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How am I getting charged for trading on scottrade? |
I've heard that stocks sell in multiples of 100, but I only buy them in much smaller numbers. The price supposedly costs more to buy shares in odd or small numbers, but I'm still just getting charged 7 $ a trade. Also, what investment vehicles can i purchase using scottrade in addition to ETF's, C/D's, and stocks? There is a spread on "the floor" between buyer and seller. It's easier to unload and buy shares in lots of 100. Breaking up a lot bugs the seller on the floor and those shares will cost a little more. Since NASDAQ is electronic, there is nobody to upset. What you see on the chart is an estimated price. At the exact moment one guy buys a lot of 100 shares of XYZ and one guy gets 75 shares of XYZ. The guy buying 100 shares might get those shares at $35 a share. The guy buying the 75 shares might be buying the exact same shares for $35.25 a share. I use Scottrade as well, and yes, it is still just 7 bucks, with no minimum shares per trade. As far as I know I only pay $7 no matter how many stocks I buy. I have been with Scottrade for a year now. Most stock trades are 7 bucks no matter odd or even # |
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