I am pretty heartened to receive email queries on why my 'calculations' on the performance table seemed to be wrong and asked if i have either received special commission rates or have calculated wrongly. Let me just clarify that:
- The commission i pay is minimum $40 or 0.4%. The reason why i pay $40 commission is because i prefer to maintain some goodwill with some brokers and route some IPO trades through them.
- For other times when i trade online, the commision may be minimum $28 or 0.275% etc.
- Rather than tracking the commission separately, my table records cost that includes commission and proceeds that excludes commission. As such, the cost price per share and sale price per share are derived figures. Cost price per share = (Investment cost plus placement commission if any)/no. of shares. Sale price per share = (Gross proceeds less commission)/no. of shares.
Hope the above clarifies.
I am pleasantly surprised how detailed readers have been. :) and thanks for the feedback.
Just for completeness sake, Saxo is charging 0.15% but they don't amalgamate trades and cannot trade pre-open and pre-close. Standard Chartered Bank has no minimum commission and charges quite a low commission.
Pick one that meets your needs. :)