Darren, the problem with a per share transaction fee is that it just can't be equitable for the small trader, the large trader, and the broker.
I am not opposed to a graduated schedule like most day-trading/data feed brokers provide. In fact, $20 down to $15 seems fair.
I do not like the nickel and diming that some seem to do. Cyber-Corp. would fall into this category, while MB seems to do less than most.
But, if a broker if truly wishing to grow its client base, they have to realize where these clients are coming from. They are coming from the Dateks, WebStreets, and Waterhouses of the world where $15 is considered high.
Right now, there is no broker out there willing (or smart enough?) to "ease" new clients into this higher cost structure arena.
The first company willing to let new traders experience this for a limited time, at or near break even, will jump to the forefront IMO.
Gary |
