by 
The Curious Bag
-
Commissions to buy and sell stock vary greatly between stockbrokers. Full-service brokers that allow you to talk directly to investment advisers charge higher fees, and the discount online broker services charge much less for a stock trade. There is still variation among brokers.
History
According to the Los Angeles Times, in 1993 the typical "deep discount" broker charged $53 for a stock trade, and the average full-service broker fee was $239. Times have changed in the Internet age.
Full Service
Full-service brokers can typically charge up to $150 for a stock trade. These brokers are looking for investors with more than $250,000 in investments who want professional advice.
Discount Trading
Online discount traders charge between $5 and $20 for a stock trade placed through their websites. Online brokers offer low cost service and no advice.
Considerations
The online brokers charge their lowest rates only for trades place through the Internet. Other types of confirmation may cost more. For example, TD Ameritrade charges $9.99 for an Internet trade but $34.99 for a computer telephone trade and $44.99 for a broker-assisted trade.
Warning
Always ask for the commissions before buying or selling stock with any broker. For online brokers, find the fees page and go over every possible fee you may be charged. Compare several brokers before opening an account.
Source:
TD Ameritrade: Commission pricing
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC