Avoiding commission on tiny positions
A stock I had gave me some kind of dividend into 2 other stocks from a venture capital. Basically I never purchased those venture stocks and but I now have a tiny position on them (now worth about 2$ each).
Just to make it mentally worst, their value dropped 80% shortly after they appeared in my portfolio so it's now a red line in my list of positions.
My broker's commission is 9.99$. Meaning it would cost me about 16$ to get rid of 2 stocks I never wanted.
Are there any options available to me or is paying to sell my only option here?
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There are no options available to you unless your broker negotiates commission rate on a trade by trade basis (see the 1980's). At .99 per trade, fahgettaboudit. No option available.
If the total value of each 'tiny position' is , again, fahgettaboudit. Buy & Hope is your only friend now.
.99 per trade is on the high side for discount brokers. I'd suggest that unless you trade very infrequently, you consider using one of the many that charge much less. These days, the competitive price in the US is about .95 per. I am aware of some that charge nothing, 50 cents per 100 shares and .95. Some also provide X number of free trades. .99 can really add up if you're a frequent flier.
I see two options (no pun intended): 1. Do nothing. Let them set in your portfolio indefinitely. I suppose this clutters up any listings a bit but so what? 2. Buy more of the stock. Then make one sales, and thus presumably pay only one commission to sell the old plus the new. But frankly, I wouldn't buy a stock just to do this.
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