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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 :)

My Fio stock broker and what i’m trading right now.

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

Now I trade over Fio broker on Czech republic stock exchange KOBOS and RMS market.

RT stock commission is 0.802% for KOBOS. Liquidity is very good (market makers doing his job)! Spread is under 1% (0.3% right now for BAATELEC).

Fio is good broker, with the bank account in Czech Republic (Fio is big corporation, it’s broker, something like bank too, and some other companies…). I may almost instantly (in few seconds) wire transfer my money (without fee!) from the broker account to my FIO business account and use it in my business. It’s the best advantage of this broker. I’m storing almost all my free money invested in the stocks (It’s the only one chance, how to not spend it on some bullshits :) as is food or DVDs ). When it’s time to take it back, i may do it instantly and not wait for some long wire transfer… It’s good for my business.

I trade this stocks:





 

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