Stock Broker Fees Worth Fighting Against

If you are employing a stock brokerage firm to invest your stocks, then you might be unhappy about the stock broker fees that you have been charged. If you consider that you might only be getting around 6 percent from your investments, and yet you are paying 2 percent in fees, that's about a third of your profits that you are handing over to the stock broker. Money which could be finding its way into your pocket instead. If you want to make your broker worth your while, and oppose those fees that you don't want to pay, then you should look at some of the changes that you can make to your life.

Oppose Sudden Changes

Sudden alterations in the stock broker fees percentages, or the annual fee, might mean that you will have to pay more for the same service as before. Oppose those changes by speaking directly to your stockbroker, and if they will not budge, consider changing broker for one with a more reasonable fee. You should also check around the issue, making sure that you are not paying over the odds on the annual fee, but being charged less than usual on exchange rates or account management.

Beware of Accepting Commissions for Higher Fees

If your stock broker intends to put up the fees, but offers you a low commission, such as $7, or even $0, then you should think again. It is rare for brokers to pay these promised commissions, and you may find that you end up paying more annual fees, but getting less. Instead, look for slightly higher commission, but with lower annual prices. This is probably the most reasonable offer you will get.

Fees on Commissions

Another annoying fee that you can be charged is for commissions. You should read the small print very closely, and try and work out if you will be accepting a fee annually, or if you will be charged on a share-by-share basis. You may sometimes find that online brokers will charge for services that ordinary brokers would not, so this can be a subtle source of income for the web-based stock broker. Refuse to accept those fees, and don't allow charges on every trade that you make. Make sure that you know exactly what you are refusing to pay for, and assess its worth in the fee-paying system.

Fees for Phone-calls

You may also find that you get charged for having to call your stock broker, even if you are calling about unfair fees. Some brokers may be deliberately unresponsive to emails and IM questions, forcing you to call them. They will then add this consultation fee to your original bill. You should always check that emails and live chat systems work before you sign an agreement. You should also remember that brokers are often willing to negotiate with you if you have a large enough account.

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