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Brokerage fee when selling individual stocks

Posted on 5/4/22 at 9:01 pm
Posted by Zachary
Member since Jan 2007
1953 posts
Posted on 5/4/22 at 9:01 pm
I'm sure this is a naive question for the board, but here goes nonetheless -- Is it common in this day and age for a brokerage entity to charge a fee/commission for selling individual stocks within a brokerage account? Even if so, are there no-fee alternatives? Thank you.
Posted by supadave3
Houston, TX
Member since Dec 2005
32147 posts
Posted on 5/4/22 at 9:06 pm to
It depends on the stock and the brokerage. Generally, if the stock isn't listed on the NYSE, then the brokerage will charge a commission on the transaction. Trust me, you don't want any other stock information from me.
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 5/4/22 at 9:28 pm to
You’re not really wrong. It does depend on the stock and the brokerage, although many, if not most have gone to $0 commissions on U.S. exchange listed stocks (not just the NYSE) and ADRs (though ADRs often have other fees associated with them).

If/when you get into certain OTC or pink sheet stocks, it’s a different ball game. And with options, I don’t pay commissions, but I pay a per contract “fee”- it was cheaper for me when I paid a 20 cent commission and no fees!
Posted by slackster
Houston
Member since Mar 2009
91836 posts
Posted on 5/4/22 at 10:28 pm to
What brokerage firm?
Posted by FLObserver
Jacksonville
Member since Nov 2005
16068 posts
Posted on 5/5/22 at 7:14 am to
The one i use is free. If it wasnt i would be paying a lot of fees
Posted by Abstract Queso Dip
Member since Mar 2021
5878 posts
Posted on 5/5/22 at 8:20 am to
Companies that focus on managing assets charge anywhere from 50 yo 100 dollars a trade and then sometimes a small percentage. For example LPL, National Financial, and Raymond James all have divisions with Advisors working at a bank like say truist. They don't want to be in the business of self directed brokerage accounts so they charge a frickton to discourage that type of business. It eats up resources and isn't beneficial to the advisor.

If you want to buy and sell stocks go to a discount firm and place your trades online. Like TD Ameritrade or Schwab. It is typically free sometimes they have a really high dollar threshold where they may charge you something.

Even those companies where it is expensive to call in a trade it is much cheaper online. I think trades were 29.95 through National financial at the last bank I worked at. Pretty sure Truist's wealth management team cleared through them.
This post was edited on 5/5/22 at 8:23 am
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