I currently have 30 free trades per month with a brokerage firm due to my account balances at their banking arm. I will typically trade a few shares of various companies in very small dollar amounts. For example, 5 or 10 shares of Ford or General Mills. If I were at a firm like Fidelity, I would pay $8.00 for each of these, making a big dent into the actual securities purchased.
I earned a completely paltry $3.33 YTD over the last 9 months on my savings at my bank presumably in exchange for these "free" trades. In considering the move to a commissioned broker, is the tipping point as simple as 'when the interest I could have earned outweighs my commissions I would have paid' - it's time to switch?
It's a bit of a mind game. I'm not "paying" to make the trade, but I acknowledge that I'm not making anything in interest.