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.