2009 Discount Broker Guide
by Jean Henrich
Stock market investors suffering from the recent market declines (38.7% decline in the overall market for 2008, as measured by the Dow Jones Wilshire 5000 index) won’t be receiving any breaks from their brokers this year if they want to buy or sell shares, according to AAII’s 2009 Guide to Discount Brokers.
This year’s guide showed brokerage commissions creeping up slightly over last year.
The average commission for a broker-assisted $5,000 trade (100 shares at $50/share) totaled 0.65% of the trade, compared to 0.63% for last year’s survey; the average commission for a broker-assisted $25,000 trade (500 shares at $50/share) totaled 0.21% of the trade, up slightly from last year’s 0.19%.
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