Disclaimer: I am going to mention the investment company that I am using, but I am not related in any way with this company, is just to exemplify my question.
I am currently using foliofn.com. They charge $290 per year, for unlimited window trading. You can trade ETF, Mutual Funds, Stocks and others. I am trying to find what is my effect percentage fee for my investment. If I pay 290 per year, and I have 10K in investments (example), the normal calculation will be
290/10,000 = 0.029 = 2.9%
Now, the problem is that I have heard that mutual funds have their own fees, so if I have a mutual fund on my portfolio, then how I will make this calculation?
I guess there are two questions in this essay:
(1) Is my assumption of $290/10K = 2.9% correct?
(2) How do I calculate additional fees within my portfolio to know my effective fee rate?