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Too high broker commission.

Posted in: Investment by Jaromír Adámek on September 29, 2008. Post tags: ,

I asked my FIO broker , if they may lower his own stock commission (I’m trading daily now) on Czech Republic RMS market from the 0,29% (RoundTrip 2*0,29%) to something lower as is 0.1% (RT 2*0.1%). Commission of the 0.1%, Is for example on the EU XETRA market via InterractiveBroker .

FIO is owner of this RMS market! So sure they may do it :) and lower my commission, but they rejected this my request and wrote me, that this commission is one of the lowest on the Czech market. It’s right, but try trade daily :) with the RoundTrip commission of 0.58% :) . If you will trade only once per day it’s something like 200 day * 0.58% commission = 116 % of the your whole property per year payed to your broker :) . So If you trading with 2k € you will pay each year 2.32k € to your broker :) LOL. Try be in profit in this situation…

For example I bought 26. 9. 2008 250* BAAUNIPE at 189,4 and sell it same day for 189,9 and I was in LOSS, yes loss! of 150 CZK :( .

Problem of the high broker commission is too , that if you are in the situation, that you must sell right now, you don’t sell only because your broker commission will kill you, and yourself, that the price must go little up :)

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