The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: Heckler on December 13, 2014, 10:41:25 AM
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Re my BMO investorline fees.
https://www.bmoinvestorline.com/selfDirected/pdfs/FeeSchedule_EN_May.pdf
I've been paying $9.95 per trade as per the flat fee commission rate for web based orders, as expected.
I can understand them charging $35+ for a trade placed through a human.
What I don't understand is why they also have a $29 regular commission schedule for web or phone trading - isn't the web fee $9.95???
I just don't want to get fleeced a year or ten from now. What am I missing?
And yes, I know there are cheaper options available but I prefer to keep my long term funds in a long term company, not an internet startup.
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That fee schedule is obscene. Switch to Vanguard, Schwab, TDAmeritrade, Fidelity... All these are fine choices and none are "internet startups".
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Questrade allows commission-free buying of ETFs. Questrade is insured (http://help.questrade.com/how-to/frequently-asked-questions-%28faqs%29/opening-an-account/is-questrade-insured-#.VI4ZCSvF-68), if that helps.
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Cheers Cathy. I was expecting the comments from my friends south if the 49th. That's ok.
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The $29 is still the regular commission. $9.95 is a new, low price program for online traders only. Basically this means they do not have to honor the lower fees for people who call in trade orders and stuff.