Investment fees can impact your investment earnings. This is why it is important to understand how to manage those fees.
The first step to managing those fees are to learn what fees are associated with your investments and when the fees are assessed. The most common costs of investing include:
Account Fee
Account fees can come in the form of opening fees (one-time charge) or maintenance fees (recurring charges, usually charged annually).
Account fees are flat fees. They are not based on how much money you have invested or the number of trades you do throughout the year.
Look for promotions that waive account opening fees.
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Transaction Fees
Transaction fees are charged by your broker each time you carry out a transaction (i.e. buy or sell stocks).
The broker typically decides on the amount of these fees...
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