Stock Trading Fees

ING Sharebuilder (and other banks and trading companies) need to stop charging surcharge fees on stock purchases based on the price of the stock. This is unfair, and has no correlation to cost or value of service being performed.

I like ING Direct. Two main reasons I like ING Direct: (1) Simple website navigation, they don't try to crowd the world of financial services and product offerings in one little site, and (2) Fair rates and fees.

ING acquired Sharebuilder a few years ago, so I gave it a try. The rates (fees) are in the ballpark, but not the leaders (not like their interest rates on Savings were). The website is a little bulky, but it improved after integration. My main beef is that they charge extra for the purchase of stocks priced below $1 per share.

https://www.sharebuilder.com/sharebuilder/Help/Topic.aspx?CategoryCode=&FaqCode=FRTTLPSS#FRTTLPSS

The low-priced security surcharge is an additional commission on real-time trades when the average execution price per share in the trade is less than $1.00.

Large Order surcharge (defined by quantity of shares purchased) made sense to me. Perhaps large orders cost them more to process. But basing it on price is senseless! They are just taking advantage of the fact that people buy these low-priced stocks because "penny stocks", as they are known, have this magical perception that they have a greater upside potential. New flash, stock price means NOTHING!!! A share of stock is just a percentage of the company. Stock exchanges should allow people to buy fractions of a stock. In fact, get rid of stock altogether. Just sell percentage stakes in the company. Stock is so 1800's. And do away with fees based on meaningless characteristics, it makes you look money hungry, ING.