New commission schedule
We have just released a new commission schedule to further improve our real world trading simulation.
From now on, the commission for a trade will be calculated the following way: For trades below 1,000 shares, the commission will be $10 flat. For trades above 1,000 shares, the commission will be $10 + $0.01 for each share in excess of 1,000 shares. For example, a 1,500 share trade will incur a $15 commission (1,500 - 1,000) * $0.01 + $10 = $15.
This commission schedule is more realistic, as it makes high volume trades more expensive. In the real market, a large order would influence the stock price - this is now simulated on UpDown with a higher commission.
Tags: Trading
June 22nd, 2009 at 12:55 pm
This new system is not very realistic. i can get as many shares as I want for 10.99 from tdameritrade. I do not know any brokers that charge this way it is stupid.
June 22nd, 2009 at 4:27 pm
I doubt anyone in their right mind would trade anything less than 1000 shares so you might as well say $.01 per share.
June 30th, 2009 at 9:00 pm
The new commission schedule is NOT realistic. Anyone in the real world with $1,000,000 to invest is NOT going to pay these commission rates.
July 3rd, 2009 at 3:54 pm
I think this is fine. I’m not really sure how the change in commission matters. Is this an attempt to discourage over-trading one’s account?
July 7th, 2009 at 2:13 pm
i feel this is not very realistic and since this game is advertised as being realistic i think that this is not really real any more
July 19th, 2009 at 6:22 pm
To all those complaining about the new system: You realize that each transaction on Updwon was a full $100 before the new system was implemented ?
The new system with cheaper transaction costs is a lot more realistic now.
August 5th, 2009 at 12:36 am
My account is still getting charged $100 on stock trades below 1000 shares. I have trades for 100 shares, and 500 shares and they’re getting charged $100 commission fee.
So, if this was supposedly put into place on June 21, then why in July & August am I still being charged $100 for trades less than 1000 shares? The system is broken. I have sent emails about it too, and they’ve been ignored. This site is whacked.
September 17th, 2009 at 7:39 am
This seems fine to me. There are some people who still pay a full or discounted brokerage commission and yes there are people who use Ameritrade. In the big picture of it all, these rates are better than they were before and I don’t think commissions will be the final determinant of how well your portfolio does.
Colin
September 25th, 2009 at 9:39 pm
I have noted that in the transaction history I am being charged the correct commission but in the rollover popup on the portfolio screen on the total gain field it is still calculating the gain based on the flat $100 commission thus distorting the current value of my holdings.