My broker charges me 0.25% per trade.
YTD I have spent more than $800 on per trade comissions, I didn’t mind it because I am still profitable, but looking online it seems I am being somewhat scammed by my Broker? My account balance is around $25,000 and most of it is being traded in the market on various stocks that I usually hold for a month. I usually trade stocks with a share price less than $10.
I don’t really have a good reference, is this too much? The only reason I feel hesitant to change to other brokers because I will be screwed by the exchange rates when converting to USD so I am using a local broker. So I am not really sure what to do.
I guess my question would be – is 0.25% too high? Is it worth switching to another broker at this stage?
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