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The Vestibule

Why do they make trading in stocks/shares so expensive?

Why do they make trading in stocks/shares so expensive?

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Discussion in 'The Vestibule' started by Troll_ov_Grimness, Sep 28, 2013.

Date Posted: Sep 28, 2013

#1

If I wanted to invest $200 or whatever in a company, and can barely afford it, why should I have to pay so many fees? Wouldn't the economy be way better around the world if people could invest through some kind of micro-transactions?

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I don't trust penny stocks. Is there a good website that explains this shit?

Troll_ov_Grimness Mysterium Tremendum Fascinosum!

I see no reason why I shouldn't be wealthy and happy. Troll_ov_Grimness, Sep 28, 2013

Joined:

Mar 25, 2006

Messages: Location:

66,432 Montreal, Quebec

Date Posted: Sep 28, 2013

#2

Can't you just use Scottrade for $7 a trade?

schizogony...

A Division of Sabre schizogony..., Sep 28, 2013

Joined:

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Messages:

67,262

Date Posted: Sep 28, 2013

#3

schizogony... said: ­

Can't you just use Scottrade for $7 a trade?

MightyChicken64 U.S. Navy Sailor

Yea, that's what I use. Not sure where you're getting this "pay so many fees" thing OP...unless you're talking about capital gains tax and stuff? MightyChicken64, Sep 28, 2013

Joined:

Oct 14, 2000

Messages:

12,041

Date Posted: Sep 28, 2013

#4

schizogony... said: ­

Can't you just use Scottrade for $7 a trade?

That's so fucking expensive. Troll_ov_Grimness, Sep 28, 2013

Troll_ov_Grimness Mysterium Tremendum Fascinosum!

Joined:

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Messages: Location:

66,432 Montreal, Quebec

Date Posted: Sep 28, 2013

#5

Be real though...200 bucks is chump change, you're not gonna make significant money on that anyway. 10 thousand is a good start

MightyChicken64 U.S. Navy Sailor

MightyChicken64, Sep 28, 2013 Joined:

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Messages:

12,041

Date Posted: Sep 28, 2013

#6

Because they want to keep the stock market available only to people who have money. It's not suppose to be for the poor. It's a joke you have to pay at all: I did the research, I picked the stocks, I am using MY money. WTF am I paying you for? Shibity, Sep 28, 2013

Shibity

Master Debater

Troll_ov_Grimness and Sir_Chester like this.

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Location: Pickin' up sluts at planned parenthood

Date Posted: Sep 28, 2013

#7

$200 is too small to properly invest, and any profit you make will be eaten up by modest trading fees. When you are working with about $5k or so, then the $7-$10 fee for buying or selling shares is not bad.

EnglandPrevails1, Sep 28, 2013

EnglandPrevails1 Positivity Crew

Joined:

Feb 22, 2013

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70,789

Date Posted: Sep 28, 2013

#8

Well, I mean, you can turn $200 into, like, $240 overnight if you play your cards right.

schizogony...

A Division of Sabre schizogony..., Sep 28, 2013

Joined:

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Messages:

67,262

Date Posted: Sep 28, 2013

#9

EnglandPrevails1 said: ­

$200 is too small to properly invest, and any profit you make will be eaten up by modest trading fees. When you are working with about $5k or so, then the $7-$10 fee for buying or selling shares is not bad.

I think that's the point OP is making. Why can't trading be more available to everyone? Most people don't have $5000 to play with.

Steev84

The Great White Ape

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Steev84, Sep 28, 2013

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Springfield

Date Posted: Sep 28, 2013

#10

$200 lol

Sir_Chester, Sep 28, 2013

Sir_Chester Sir faps a lot

Joined:

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101,867

Location:

Fucking Georgia

Date Posted: Sep 28, 2013

#11

schizogony... said: ­

Can't you just use Scottrade for $7 a trade?

Fuck that. 7 bucks for something I could do myself. Fucking middleman raping the little guy. Bllasae0, Sep 28, 2013

Bllasae0

Space Cowboy

Joined:

Feb 3, 2006

Messages:

37,448

Date Posted: Sep 28, 2013

#12

Sir_Chester said: ­

$200 lol

I made $1600 dollars off $200, obviously not insane money, but why is this funny? You should be able to invest whatever you want, and not be screwed by pointless fees for a service that, in the modern world, really doesn't need to exist.

Shibity

Master Debater

Shibity, Sep 28, 2013 Joined:

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Location: Pickin' up sluts at planned parenthood

Date Posted: Sep 28, 2013

#13

Sir_Chester said: ­

$200 lol

I made $1600 dollars off $200, obviously not insane money, but why is this funny? You should be able to invest whatever you want, and not be screwed by pointless fees for a service that, in the modern world, really doesn't need to exist.

Shibity

Master Debater

Shibity, Sep 28, 2013 Joined:

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Location: Pickin' up sluts at planned parenthood

Date Posted: Sep 28, 2013

#14

One thing that I do agree with : and what I will probably do myself someday. Taking out a loan to invest in a stock. Troll_ov_Grimness

I've heard of people doing this. It's not as risky as it sounds.

Mysterium Tremendum Fascinosum!

Joined:

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Messages: Location:

66,432 Montreal, Quebec

You invest in a company that you know is growing, and you trust that short of a natural disaster or serious scandal that that stock will be worth more down the line, you put a stop option or whatever it is called on that stock, so you set yourself to make a certain amount of money, when it reaches that point the machines sell your stock automatically. You invest in a company that has lots of buyers. You get your profit, then you pay your loan. A lot of people do this. Its not as crazy as it initially sounds. Troll_ov_Grimness, Sep 28, 2013

Date Posted: Sep 28, 2013

#15

blarg. I bought Transmute Artifact when they were $15 or so. They're worth $50 now Troll_ov_Grimness

I paid maybe a $5 fee, lets say, the cost of shipping.

Mysterium Tremendum Fascinosum!

This is why fees on stocks is retarded. Joined:

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Messages: Location:

66,432 Montreal, Quebec

I could buy magic cards. And make more money. Troll_ov_Grimness, Sep 28, 2013

Date Posted: Sep 28, 2013

#16

Shibity said: ­

Because they want to keep the stock market available only to people who have money. It's not suppose to be for the poor. It's a joke you have to pay at all: I did the research, I picked the stocks, I am using MY money. WTF am I paying you for?

BlackKid200 Super Star

Joined:

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Messages:

71,046

Well, without a broker it could take a day or so to trade your stocks. Brokers buy and trade stocks by owning them. All stocks you own are in your broker's name. If they were in your name you'd have to fill out paper work and sign off for every trade. It's understood that even though they are in the broker's name they are your assets. Last edited: Sep 28, 2013 BlackKid200, Sep 28, 2013 Last edited by BlackKid200, Sep 28, 2013

Date Posted: Sep 28, 2013

#17

Shibity said: ­

Because they want to keep the stock market available only to people who have money. It's not suppose to be for the poor. It's a joke you have to pay at all: I did the research, I picked the stocks, I am using MY money. WTF am I paying you for?

BlackKid200 Super Star

Joined:

Oct 29, 2009

Messages:

71,046

Well, without a broker it could take a day or so to trade your stocks. Brokers buy and trade stocks by owning them. All stocks you own are in your brokers name. If they were in your name you'd have to fill out paper work and sign off for every trade. It's understood that even though they are in the brokers name they are your assets. BlackKid200, Sep 28, 2013 Shibity likes this.

Date Posted: Sep 28, 2013

#18

And you all trust the banks that own your stuff? I have the cards, in my binder. They're mine. They're not assets beloning to my broker or bank. They're mine. I bought them. I paid for them. I profit from them. Nobody can screw me. Last edited: Sep 28, 2013

Troll_ov_Grimness Mysterium Tremendum Fascinosum!

Joined:

Mar 25, 2006

Messages: Location:

Troll_ov_Grimness, Sep 28, 2013 Last edited by Troll_ov_Grimness, Sep 28, 2013

66,432 Montreal, Quebec

Date Posted: Sep 28, 2013

#19

Troll_ov_Grimness said: ­

And you all trust the banks that own your stuff? I have the cards, in my binder. They're mine. They're not assets beloning to my broker or bank. They're mine. I bought them. I paid for them. I profit from them. Nobody can screw me.

BlackKid200 Super Star

Calm your asshole. The S.P.I.C. insures up to $500,000 net equity balance and up to $250,000 cash balance. Your $200 is safe. Joined:

Oct 29, 2009

Messages:

71,046

Last edited: Sep 28, 2013 BlackKid200, Sep 28, 2013 Last edited by BlackKid200, Sep 28, 2013 LeadTaco and hipcrime like this.

Date Posted: Sep 28, 2013

#20

Double Post

BlackKid200 Super Star

Last edited: Sep 28, 2013 BlackKid200, Sep 28, 2013 Last edited by BlackKid200, Sep 28, 2013

Joined:

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Messages:

71,046

Date Posted: Sep 28, 2013

#21

Tradeking only charges $5 commission, as opposed to the $7 that ScottTrade charges.

As_Samad, Sep 28, 2013

As_Samad

Eternal Optimist

Joined:

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Messages:

3,106

Location:

Los Angeles, CA

Date Posted: Sep 28, 2013

#22

There is no rule that you need a minimum amount of cash to invest in anything, although given the stock price of many great companies you should expect to allocate at least a few thousand dollars if you wish to obtain enough shares in the company to make the trading fees worthwhile. For myself, I do not and will not ever invest in penny stocks, speculative gold, mineral or resource companies or anything of that sort. I like to be able to invest at least 4-5K for any stock position (stocks usually priced between $20-50 per share). As well, I only purchase stocks that pay out dividends and with good future growth potential for capital gains. The combination of a stable and steady dividend payment, and growth is as good as it gets. There is only one stock that I own which does not pay a dividend but as it is achieving an astronomic rate of return so far and into the next several months, I am confident that I can hold out for it a little longer.

wsim

Dividend Investor

Joined:

Aug 9, 2000

Messages:

44,064

My biggest regret was not being able to afford more shares of Visa back when I bought it for $75/share, and it would have been nicer if I could have doubled on my investment back then. Even still, that stock will continue to be a monster moving forward and is a gravy train. wsim, Sep 28, 2013 schizogony... likes this.

Date Posted: Sep 28, 2013

#23

B wsim said: ­

There is no rule that you need a minimum amount of cash to invest in anything, although given the stock price of many great companies you should expect to allocate at least a few thousand dollars if you wish to obtain enough shares in the company to make the trading fees worthwhile. For myself, I do not and will not ever invest in penny stocks, speculative gold, mineral or resource companies or anything of that sort.

ikast

I gamble to win

Joined:

I like to be able to invest at least 4-5K for any stock position (stocks usually priced between $20-50 per share). As well, I only purchase stocks that pay out dividends and with good future growth potential for capital gains. The combination of a stable and steady dividend payment, and growth is as good as it gets. There is only one stock that I own which does not pay a dividend but as it is achieving an astronomic rate of return so far and into the next several months, I am confident that I can hold out for it a little longer.

Oct 11, 2011

Messages:

23,391

My biggest regret was not being able to afford more shares of Visa back when I bought it for $75/share, and it would have been nicer if I could have doubled on my investment back then. Even still, that stock will continue to be a monster moving forward and is a gravy train.

Priceline bro 10 bagging

! Last edited: Sep 28, 2013 ikast, Sep 28, 2013 Last edited by ikast, Sep 28, 2013

Date Posted: Sep 28, 2013

#24

BlackKid200 said: ­

Shibity said: ­

Because they want to keep the stock market available only to people who have money. It's not suppose to be for the poor. It's a joke you have to pay at all: I did the research, I picked the stocks, I am using MY money. WTF am I paying you for?

Shibity

Master Debater

Joined:

Oct 3, 2005

Messages:

Well, without a broker it could take a day or so to trade your stocks. Brokers buy and trade stocks by owning them. All stocks you own are in your broker's name. If they were in your name you'd have to fill out paper work and sign off for every trade. It's understood that even though they are in the broker's name they are your assets.

48,485

Location: Pickin' up sluts at planned parenthood

I get that and understand its historical role in the stock market. In modern times though, it's completely unnecessary. A brokers role could be completely replaced with an electronic system and an automatic "auto-sign" that automatically fills in the information (the paperwork) required to make the trade.All that paperwork gets filled out one way or the other, so really all you are doing is adding a middleman. It's unnecessary and you know it. Shibity, Sep 28, 2013

Date Posted: Sep 28, 2013

#25

Shibity said: ­

BlackKid200 said: ­

BlackKid200

Shibity said: ­

Super Star

Because they want to keep the stock market available only to people who have money. Joined:

Oct 29, 2009

Messages:

71,046

It's not suppose to be for the poor. It's a joke you have to pay at all: I did the research, I picked the stocks, I am using MY money. WTF am I paying you for? Well, without a broker it could take a day or so to trade your stocks. Brokers buy and trade stocks by owning them. All stocks you own are in your broker's name. If they were in your name you'd have to fill out paper work and sign off for every trade. It's understood that even though they are in the broker's name they are your assets. I get that and understand its historical role in the stock market. In modern times though, it's completely unnecessary. A brokers role could be completely replaced with an electronic system and an automatic "auto-sign" that automatically fills in the information (the paperwork) required to make the trade.All that paperwork gets filled out one way or the other, so really all you are doing is adding a middleman. It's unnecessary and you know it.

I'll give you this. Discount brokers could probably be done away with. They don't offer you anything besides the ability to trade. However, full service brokers like the ones most major brokerage houses have offer expertise and many services that are beneficial to the investor. BlackKid200, Sep 28, 2013 Shibity likes this.

Date Posted: Sep 28, 2013

#26

BlackKid200 said: ­

Shibity said: ­

BlackKid200 said: ­

Shibity

Well, without a broker it could take a day or so to trade your stocks. Brokers buy and trade stocks by owning them. All stocks you own are in your broker's name. If they were in your name you'd have to fill out paper work and sign off for every trade. It's understood that even though they are in the broker's name they are your assets.

Master Debater

Joined:

Oct 3, 2005

Messages:

48,485

Location: Pickin' up sluts at planned parenthood

I get that and understand its historical role in the stock market. In modern times though, it's completely unnecessary. A brokers role could be completely replaced with an electronic system and an automatic "auto-sign" that automatically fills in the information (the paperwork) required to make the trade.All that paperwork gets filled out one way or the other, so really all you are doing is adding a middleman. It's unnecessary and you know it. I'll give you this. Discount brokers could probably be done away with. They don't offer you anything besides the ability to trade. However, full service brokers like the ones most major brokerage houses have offer expertise and many services that are beneficial to the investor.

Agreed. Obviously the financial tools and expertise is a service worth the money. Shibity, Sep 28, 2013

Date Posted: Sep 28, 2013

#27

I realize you can't make profit through small trades because of fees. I get it. and thats kind of my point, you shouldn't have to potentially wreck your life to invest in companies.

Troll_ov_Grimness, Sep 28, 2013

Troll_ov_Grimness Mysterium Tremendum Fascinosum!

Joined:

Mar 25, 2006

Messages: Location:

66,432 Montreal, Quebec

Date Posted: Sep 28, 2013

#28

BlackKid200 said: ­

Shibity said: ­

BlackKid200 said: ­

Shibity

Well, without a broker it could take a day or so to trade your stocks. Brokers buy and trade stocks by owning them. All stocks you own are in your broker's name. If they were in your name you'd have to fill out paper work and sign off for every trade. It's understood that even though they are in the broker's name they are your assets.

Master Debater

Joined:

Oct 3, 2005

Messages:

48,485

Location: Pickin' up sluts at planned parenthood

I get that and understand its historical role in the stock market. In modern times though, it's completely unnecessary. A brokers role could be completely replaced with an electronic system and an automatic "auto-sign" that automatically fills in the information (the paperwork) required to make the trade.All that paperwork gets filled out one way or the other, so really all you are doing is adding a middleman. It's unnecessary and you know it. I'll give you this. Discount brokers could probably be done away with. They don't offer you anything besides the ability to trade. However, full service brokers like the ones most major brokerage houses have offer expertise and many services that are beneficial to the investor.

Agreed. Obviously the financial tools and expertise is a service worth the money. Shibity, Sep 28, 2013

Date Posted: Sep 28, 2013

#29

Shibity said: ­

BlackKid200 said: ­

Shibity said: ­

Troll_ov_Grimness

I get that and understand its historical role in the stock market. In modern times though, it's completely unnecessary. A brokers role could be completely replaced with an electronic system and an automatic "auto-sign" that automatically fills in the information (the paperwork) required to make the trade.All that paperwork gets filled out one way or the other, so really all you are doing is adding a middleman.

Mysterium Tremendum Fascinosum!

Joined:

Mar 25, 2006

Messages: Location:

It's unnecessary and you know it.

66,432 Montreal, Quebec

I'll give you this. Discount brokers could probably be done away with. They don't offer you anything besides the ability to trade. However, full service brokers like the ones most major brokerage houses have offer expertise and many services that are beneficial to the investor. Agreed. Obviously the financial tools and expertise is a service worth the money.

Only if you have bajillions dollars and make trades more or less for a living For small investors what the fuck are they supposed to do? They can't afford services like that and don't need them. Troll_ov_Grimness, Sep 28, 2013

Date Posted: Sep 28, 2013

#30

I'll give you this, considering the way the american economy is going they're going to have to do what I'm saying because of student debt loads and healthcare costs. Troll_ov_Grimness

Troll_ov_Grimness, Sep 28, 2013

Mysterium Tremendum Fascinosum!

Joined:

Mar 25, 2006

Messages: Location:

66,432 Montreal, Quebec

Date Posted: Sep 28, 2013 Troll_ov_Grimness said: ­

Shibity said: ­

BlackKid200

BlackKid200 said: ­

Super Star

Joined: Messages:

Oct 29, 2009

I'll give you this. Discount brokers could probably be done away with. They don't offer you anything besides the ability to trade. However, full service brokers like the ones most major brokerage houses have offer expertise and many services that are beneficial to the investor.

71,046

Agreed. Obviously the financial tools and expertise is a service worth the money. Only if you have bajillions dollars and make trades more or less for a living For small investors what the fuck are they supposed to do? They can't afford services like that and don't need them.

You should just invest in a mutual fund. That or save up some more money and trade on margin. BlackKid200, Sep 28, 2013

#31

Date Posted: Sep 28, 2013

#32

Bllasae0 said: ­

schizogony... said: ­

Can't you just use Scottrade for $7 a trade?

schizogony...

A Division of Sabre

Fuck that. 7 bucks for something I could do myself. Fucking middleman raping the little guy.

Joined:

Jan 13, 2012

Messages:

67,262

schizogony..., Sep 28, 2013

Date Posted: Sep 28, 2013

#33

wsim said: ­

There is no rule that you need a minimum amount of cash to invest in anything, although given the stock price of many great companies you should expect to allocate at least a few thousand dollars if you wish to obtain enough shares in the company to make the trading fees worthwhile. For myself, I do not and will not ever invest in penny stocks, speculative gold, mineral or resource companies or anything of that sort.

schizogony...

A Division of Sabre

Joined: Messages:

Jan 13, 2012 67,262

I like to be able to invest at least 4-5K for any stock position (stocks usually priced between $20-50 per share). As well, I only purchase stocks that pay out dividends and with good future growth potential for capital gains. The combination of a stable and steady dividend payment, and growth is as good as it gets. There is only one stock that I own which does not pay a dividend but as it is achieving an astronomic rate of return so far and into the next several months, I am confident that I can hold out for it a little longer. My biggest regret was not being able to afford more shares of Visa back when I bought it for $75/share, and it would have been nicer if I could have doubled on my investment back then. Even still, that stock will continue to be a monster moving forward and is a gravy train.

Did @wsim just post? DID @wsim JUST POST?!?!?! schizogony..., Sep 28, 2013

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Why do they make trading in stocks/shares so expensive?

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