With all the recent bank turmoil and bank runs, it's a good reminder to be cautious with our money. It's important to remember that the modern banking system is based on fractional banking, which means banks are heavily leveraged.
For example, let's say you deposit $100 into your bank account. The bank only needs to keep a fraction of that deposit (let's say 10%) in reserve, and can lend out the remaining $90 to other customers.
This is how banks make money, by charging interest on loans. But ...

"Feeling frustrated that Commsec is discontinuing their international trading service for Hong Kong stocks. As an investor, it's important to be able to access the HK markets since they give you access to such a variety of companies. I managed to make a very decent profit doing short term in and out during the whole political tension game. I'm already researching other brokers that offer Hong Kong market trading and right now it seems like moomoo might be the best one. Here's to finding a new br...

So I just received an email from Stake, my current broker. Its saying they are going to increase the fee to $3 per trade up to 30k?? I got suckered in before by the slick marketing but I found out that I'm paying0.5% each time I convert my currency to buy US stocks.
Got to say it's really a bad news for users like me. High fees charged by brokers not only reduced returns, but also like limitations on trading. That makes it difficult for us to execute trades freq...