Online Stock Trading Questions - No hidden fees?

[edro]

If I submit a Buy/Sell for stock, after hours, does the order go through for the current frozen price, or does it wait a certain amount of time after the market reopens?

The market will often times raise or drop instantly at the beginning of the day, so how does the market and these companies process these orders instantly at the start of the day?

New Question,

I bought and sold stock in the past with a local brick and mortar place, and their fees were "hidden" from me. There were upkeep fees, higher than I knew of selling fees, etc.

These online places seem to be very cheap.

Sharebuilder charges $9.95 to buy + $5 to pull the funds from your bank.
Then, I am assuming it is another $9.95 to sell, and probably another $5 to go back into your home bank account.

Am I missing something?

This is for the basic account, no monthly fee that I can see.

 

[Foxery]

Check with your investment company to make sure they don't cancel "Day" orders at midnight. After that, the Stock Exchange basically keeps a queue of all orders placed, in the order they were received. Once the clock ticks 9:30:00, yours goes through whenever it's your turn in line, i.e. when all previous orders have been filled.

 

[edro]

So after each sale in the queue, the stock price adjusts (a tiny bit)?

 

[Foxery]

Yes. There's a machine (it used to be a person) that tracks Bid and Ask prices (limit orders) and tries to match up buyers and sellers in a "fair and orderly" fashion. It tries to move a penny at a time and not allow sudden, large deviations from the most recent price -- unless a huge number of orders come in telling it otherwise.

I'm sure there's a lot of math involved in making this an automated computer system, but that's the gist of it.

 

[edro]

New Question,

I bought and sold stock in the past with a local brick and mortar place, and their fees were "hidden" from me. There were upkeep fees, higher than I knew of selling fees, etc.

These online places seem to be very cheap.

Sharebuilder charges $9.95 to buy + $5 to pull the funds from your bank.
Then, I am assuming it is another $9.95 to sell, and probably another $5 to go back into your home bank account.

Am I missing something?

This is for the basic account, no monthly fee that I can see.

 

[bonkers325]

with sharebuilder, it is $9.95 per trade and $5 if you want express funding (only applicable if u dont have enough $ to cover your trade)

 

[edro]

Originally posted by: bonkers325
with sharebuilder, it is $9.95 per trade and $5 if you want express funding (only applicable if u dont have enough $ to cover your trade)

Is it another $9.95 + $5 to sell and then transfer money back to your bank account?

 

[Miramonti]

Iirc, Ameritrade is $9.95 per trade, no maintenance or other fees. If you want an order to be maintained after hours, you want to create a 'GTC' limit order (good til cancel, at the price you specifiy), as opposed to a 'day' limit order that would automatically expire at the end of each normal trading session.

There's no 'express funding' with ameritrade (or most others) tho. An account needs to be opened with a certain minimum amount and the money has to be there to make the trade.

 

[LuckyTaxi]

Originally posted by: edro

Originally posted by: bonkers325
with sharebuilder, it is $9.95 per trade and $5 if you want express funding (only applicable if u dont have enough $ to cover your trade)

Is it another $9.95 + $5 to sell and then transfer money back to your bank account?

I use sharebuilder. It's $9.95 to sell but no fess whatsoever to move money back and forth to your bank account. The $5 is only for express funding as someone stated earlier. I dont trade that often and sharebuilder has been superb for me. Ameritrade wanted a minimum balance and scottrade takes 3-5 days to transfer your money back and forth. Sharebuilder does it the next business day!