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Commissions for Positions (Broker Fees)

Commissions and broker fees come in all different shapes and sizes. Depending on the amount of work the actual broker does for you will really depend on your commissions.

Discount brokers (read more about what Discount brokers offer)

Commissions can vary between $5 – $15.

Honestly, there is no reason to work with a discount broker for more than $10 a trade. You are literally doing all the work so why pay more.

Full Service brokers (read more about what Full service brokers offer)

These guys can get you anywhere between $25 – $50 a trade. But also you can pay fees on top of that for different services that they offer.

Before signing up with one of them, find out all you can for the best full service package. If you think about it. The people who work for one full service broker can be the exact same person working for a more reasonable priced one already. It’s all about the person you will be working with and sometimes you’ll be surprised how knowledgeable they are without paying high end rates.

And if you’re wondering about the research that is offered. With all the free info on the web, do you really need to be paying a premium rate for it?

NOTE: if you decide to go into futures, that is a whole other market. While most discount brokers work with future contracts, there are special brokers that only work with Futures. Read more about Future and Brokers for Futures here.

If you want to learn more about my journey and how I started day trading you can read it here or you can watch on my YouTube channel.

Commissions for Positions (Broker Fees)