Banks and brokerage firms typically charge online traders a fee to buy or sell securities. In most cases, these fees seem relatively small. They usually come in around the $10 mark. However, they are applied to every single transaction you make on both the buying and selling sides. If you’re just getting started with stock market trading, you’re probably limiting yourself to modest sums of money. That means these transaction fees, when viewed as a percentage of any profits you’re lucky enough to make, can add up to a lot more than you’d care to pay.
There are alternatives available. Services that offer legitimate, secure online trading with no fees. Many new mobile platforms offer transaction-free trading, while some brokerages and investment firms now feature limited-time promotions that eliminate transaction fees up to a certain limit. Some companies also allow traders to buy and sell certain classes of securities free of charge. Here’s how to get started.
