Is $50 Too Much?
May 30, 2011 by Bob Livingston
Bob, good morning.
I am a recent stock-purchaser. I, by myself, set up an online Fidelity account. It charges $7.95 per stock transaction. There might be other websites that are better; but for now, I am enrolled into this one.
I went to purchase a Canadian stock, mentioned by others, but similar to your logic of silver investment. The company is Fortuna Silver Mining, with symbol FVI. It is a Toronto Exchange traded stock.
A pop-up alert within the Fidelity website said that on top of the $7.95 transaction fee, I could expect an additional $50 fee because the stock is a foreign-traded equity.
Are there websites like Fidelity that do not charge additional fees to handle stock trades through other stock exchanges that are not American-based?
Most, if not all, U.S. brokers charge a fee for out-of-country stock purchases. Actually, $50 is a reasonable charge to expect.