Had a chat with a day trader about broker fees and it changed my mind

I was at a coffee shop last week and this guy next to me was complaining about his broker's commission structure. He trades like 50 times a day and said he was paying $4.95 per trade which adds up to almost $250 a week in fees. That got me thinking about how I never really add up my own costs over time. Anyone else ever calculate what they actually spend on broker fees in a month?

2 comments

2 Comments

beth_butler7520d ago

My neighbor pays $12/month in bank fees and never thinks about it, but add that to all the little subscription services and suddenly it's like handing over a month's grocery money without blinking.

grant13020d agoTop Commenter

I wonder how many people actually sit down and add all that noise up? @beth_butler75, do you think it's just that we don't see the number, or maybe we're scared to know how bad it really is?