eToro is going to start charging flat $2 for stocks

virajsen on 11/07/2024 - 21:26
Last edited 11/07/2024 - 21:27

Got an email from etoro stating they are going to charge flat $2 commission on all stock trades. This is going to screw up my doller cost average investment. Any thoughts? Or alternatives?

Is this hoing to be applied wheb i close my existing positions?

Please note that all commission fees are calculated in USD, regardless of the base currency of the stock being traded.
Our global stocks offerings enables you to trade stocks from 19 exchanges around the world with no markup on spreads. We are also in the process of adding thousands more stocks to ensure that you can easily gain exposure to companies from around the globe.
As part of this expanded product offerings, on August 11, 2024, we will be introducing commission fees on stocks. Commissions on stock investing will now incur a flat fee of US$2 per trade i.e., when you open and when you close the position. Please note that all commission fees are calculated in USD, regardless of the base currency of the stock being traded.

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Comments

  • EightImmortals on 12/07/2024 - 06:58
    -1

    Wow a whole $2? How small is your portfolio and/or how often do you trade to make a whole $2 a major inconvenience?

    • virajsen on 12/07/2024 - 10:04

      I do weekly multiple trades of about $20 $40 …

      • EightImmortals on 12/07/2024 - 10:09

        How much return do you usually get on those amounts?

      • Daniel Plainview on 12/07/2024 - 11:15

        Plenty of calculators out there to show the returns you'd have to be getting for a certain sized parcel to be viable at a given brokerage cost.

        EDIT: I assume eToro were previously charging NIL on such microtrades, so you trade less or go to someone like CMC for free sub-$1k trades.

        And YES, it ($2 fee) based on that info applies when you buy or sell. Very straight forward concept.

        • virajsen on 12/07/2024 - 12:34

          Cmc gives only one free trade per day right?

          • Daniel Plainview on 12/07/2024 - 12:48

            @virajsen: Thats what they tell me.

            FWIW none of us likes to pay more on brokerage than needed BUT if it's too big a focus, perhaps one needs to be picking better stocks or upping the risk/volatility exposure.

  • Nillionaire on 12/07/2024 - 11:23

    don't care cause their interface is ugly anyway

  • ashdophy on 20/07/2024 - 10:28

    You will be charged $2 when you sell. However, they already charged 150 bps for currency conversion when you made the deposit. When you withdraw, you will need to pay FX fees again.

    Check other brokers with 0 commissions. Definitely not Etoro.

    • virajsen on 20/07/2024 - 13:59

      I normally deposit usd to it… but not sure how its going to be when I withdraw… no plan to do it in near future … what are the other brokers you suggest? Is commbank good?

      • ashdophy on 20/07/2024 - 14:35

        It depends on your investment style. I use Betashare Direct for AU and Webull for US.

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