Jump to content
Sign in to follow this  

HUGE commission for trading penny stock .

Recommended Posts

Hi All,

Please let me know does anyone trade US penny stock. When I started trading US stock for all the transaction there use to be currency conversion charge and this was costing a lot.

Since my account base currency was GBP for every trade  in USD I use to pay currency conversion rate which was costing a lot for me . Then I decided to convert all my GBM capital into USD (Stopped instant conversion). However now I can see all my trade per share IG is charging 13 pence from my account . It's almost equal to looting my account 

 

Example

Share Bionano Genomics Inc   Number of share : 5000   share cost :0.48507   total amount : 2425.35 UDS       commission : 100 UDS 

 

FOR A 2425.35 USD  transactions BUY COMMISSION  100  usd  Sell   Commission  : 100 USD .   

Are all getting changed like this for your US transaction ???  

I don't think I can continue trading like this .. this charges are killing my capital .

image.thumb.png.3f616e8a2dc612bbb7ea3a0ef66bd025.pngimage.thumb.png.738402421096358c3eeaad80a0d50960.png

Thanks

Arun

Share this post


Link to post

lol it's not the charges that's killing you

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      12,472
    • Total Posts
      63,393
    • Total Members
      84,237
    Newest Member
    Gac
    Joined 24/09/20 17:21
  • Posts

    • ok, makes sense, thanks.  good night...
    • Just the general weakness in the US and European Indices and the view that they were unlikely to rise much further in the short term. But I did not have a specific set-up for the Nikkei which was showing strength at the time. I was also trying to trial trading longer time frames which I am not very good at. It is 1.45 AM Sydney time and it would be nice to change the hours I trade, but I doubt that I can.  
    • thanks, understood - was just wondering what made you enter it in spite of against your playbook - there must have been a valid reason, as in the end it worked out well
×
×