Broker Frustrations

Ah brokers...Gotta love em', right? (If they're good and don't nickel and dime you, you damn sure better)


I find myself in a position I'm sure many traders, investors have before. I feel as if I've been patient with my broker, but I'm about at my ticking point. When I find out brokers charge hidden fees, I'm about as surprised as I am seeing the sun rise. However when a broker can't give you an estimate on how those fees are structured, that's when I have a big problem.

See I made a mistake. Thinking I'd deal with my broker adding on "just a little bit" each time I was in a rude awakening to find out the more I made, the more they took. And whenever I lost, you better believe they were right there taking again. So after doing numbers I realized how much this stacked the odds against me. My wins are trimmed, losses are extra. Again I realize this is a common occurrence with brokers. However some "fluctuate" the fees while others are more straight forward.

Add to the fact their website is often laggy, charts delayed, and you realize you're not just fighting the market but the broker as well. For my readers out there, let this be another lesson in the long list of bad broker experiences.

I'm currently looking into new brokers, preferably one that caters more to day traders without robbing them blind. Wish me luck!