Pretty much a total new person to stocks, but from the RobinHood commission and fees document and other internet sources, this is what I can gather.
For US-listed stocks: $0
plus SEC fees: 0.00221% of principal ($22.10 per $1,000,000 of principal)
plus Trading Activity Fee: $0.000119/share rounded to nearest penny
plus short/long term capital gains taxes
So if I bought one share worth $100 and sold it for $110 under a year my taxes/fees would be:
$0 commission + SEC fees of $0.24 + TAF fees of $0.01 + short term gains tax of 25% (assuming single and 50k/year) = $2.75
So I'd pay $2.75 of the $10 profit, equaling a net profit of $7.25. Correct? Am I missing any other hidden fees?
Thanks for any replies!
Submitted January 05, 2015 at 02:06PM by bainj http://ift.tt/17dKmsP
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