I want to buy 20-30 stocks with my $10,000 and hold them for a year. But my broker is charging me $30 for each transaction. ie.. it will cost me $60 to buy and then sell one stock.. this takes away 6% of my earning in each stock.
Is there any way I can buy stocks for very little overhead cost (say 1%)? I am Canadian so I can't take advantage of the $4 fees which some brokers offers to Americans only. There're banks offering lower fees ($10/transaction) if I trade 30+ times a quarter. But I am not rich enough to be an active trader.
Any advise? (except dumping Canadian citizenship and apply for US PR:)
2006-10-09
14:36:15
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4 answers
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asked by
Astro newbie
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