Online Brokerage “Flat Per Trade Fee” warning

Brokerage/Bank advertising is usually annoying. This is because you absolutely HAVE to read the fine print: “Flat fee $9.95 trading!” actually means flat fee per transaction, for each transaction which happens on a different date, which could happen multiple times per trade!

One trade I made took 3 days to complete, and thus charged $9.95×3 for the same trade. It used to be $29 – Thus this would have cost $87 dollars a few months ago. It is so convoluted the staff is 50/50 as to whether they know the answer. In their defense, I countered with a logical argument as to why this was ridiculous (Being polite and calm of course, because – Put yourself in their shoes) and he reversed it “This one time”.

All transactions for one account in one security on one side of the market during one trading session are included in determining the principal value of the trade (“daily bundling process”). Full commission charges apply for each partial fill except when transacted on the same business day. Prices on multiple fills transacted on the same business day are averaged for commission purposes.

On the topic of Bonds, which have a different fee schedule, if you ever plan on buying bonds on an online brokerage, search for the fine print, as it is usually worked into the price of the bond. The average I’ve seen is upward of $40 dollars + X dollars per $1000 par value.

Individual bonds will rarely ever be worth it at that price of commission.

Happy trading.

-Devin

 

 

Canada Post – Door to Door Solution

I’m sick of all the “Keep door to door delivery” petitions. They are losing insane amounts of money each year and have an insolvency in pretty much all of their obligations. The argument is “What about disabled people? Elderly?”. As a side note, the CEO is pretty stupid to tell people they will “Get more exercise” this way.

Well, a solution; Have rock solid rules based on reality that define whether you can apply to have it still delivered to your door, but keep the norm being the mail area boxes. If you don’t qualify, add a subscription fee that allows it to be delivered to your door. 10 dollars a month or whatever a study deems appropriate.

Win-Win.

Random Thoughts I woke up With Today

If life were a parent, I’d say thank you for raising me.
I’d apologize for not always being obedient, but appreciate you never giving up.

If life were but a friend, I would call him a dear friend.
One who has stuck by me, even as I had often contemplated casting him aside.

If it is a lover, I’d tell her I’m glad she is with me.
Though times can be tough, I always revel in new experiences to share.

I woke up with those three stanza’s in my head. Falling asleep to Brian Crain does strange things to the mind. I’m not sure if they are original, I may have just remembered them, but I wrote them down anyways.

A life lead in the pursuit of small attainable dreams/goals has lead me to be the man I am today. One who wants to remove all hardship from those he cares about, to protect them. I love amazing people by creating new things they didn’t think were possible. I dream of seeing the world. Over my life I have become a person who, though not required, prefers to write down his thoughts. Memory is triggered by seeing items from your past, and I like to be able to remember who I was. Not as a vague notion, but with a clarity of exactitude. It is similar to taking a picture of yourself every day to see how you age day by day, though mentally. Thus this website is, other than the odd technical tutorial, more for me than anyone consuming it. (Thank you random two people who always read my posts)

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INFORMATION

I do not adhere to a schedule. I post when I have something to say. I'm a programmer who in my spare time enjoy contemplating the meaning of life, the universe and, everything. So there will be code as well as random little stories and essays.