When a person decides to begin trading stock, they will find there are countless ways to go about this. While they can do it on their own, for those new to the process it is generally not the best idea. A better option is to hire a brokerage firm to help along the way. However, before diving in and hiring the professionals, it is a good idea to get to know about the cost of these services. While there are trade-related fees that are expected, there are also non-trading fees that have to be considered. More about non-trading fees can be found here.
What is a Non-Trading Fee?
A non-trading fee can include any and everything that is not directly related to buying or selling stock. The non-trading fees that are charged can vary from one brokerage to another, so it is a good idea to compare these before choosing a professionals help. Here, those who are interested in hiring a trading broker can learn more about non-trading fees.
Common Types of Non-Trading Fees
Some of the most common non-trading feels that a brokerage is going to charge are listed here.
- Maintenance fees for the account: In most cases, this will only be charged one time per quarter or per year.
- Account inactivity fee: This fee will be charged if a person’s account is dormant for a certain amount of time.
- Charting platform fee or data feed: If a client opts for pricing data feed from their broker or for a charting platform, they are going to be charged a fee for the services.
- Additional/miscellaneous fees: Some of the other types of miscellaneous feeds that a person may be charged include account statement requests, phone brokerage services, and more.
Keep in mind, these fees will vary from brokerage to brokerage. As a result, it is a good idea to compare offers ahead of time, as this is the best way to ensure that the best price and fee schedule is found. Additional help and information is available by taking the time to connect with Markus Heitkoetter, who is a successful day trader and who fully understands the process and fees.