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.
Why not? Most brokers have an easier time taking a share size and multiplying it by a number x number of times per day than they do manually going through and fixing for split fills...it's actually easier for the broker. The fact that the brokers have become accustomed to saying, "Darn you got a split fill, too bad, your loss." and taking the full commission does nothing to make the customer feel better. And for the trader, small or large, it's much more fair than paying $20 for 45 shares of the lastest and greatest internet stock moving at the speed of light. As a trader, small or large, you are paying for what you get, nothing more, nothing less. |
