The growth of online discount brokerages has been a great win for us as consumers. Prior to their invention, investing in the stock market was expensive, to say the least. You would have to pay someone else to do your trading for you, which added exorbitant costs.

Over the past few decades, discount brokerages have lowered the costs for many investors. Yes, there are still those out there who charge high fees, but there are many frugal options, too. Still, there are many ways to save on your online investing costs that many people don’t know about. That’s extra money you can save and have work for you. As you take a look at these tips, keep in mind that they’re general and might vary somewhat depending on the specific brokerage house.

Negotiate Your Commission

One of the main ways online brokers try to differentiate themselves is with commission price. What many people don’t know is that most brokerages will often negotiate your commission price with you. Most of the bigger online brokers are only paying $2 or $3 per trade, if that, so the extra added cost is pure profit for them. Take a look at what you’re paying to see what your brokerage firm might be making off you and consider asking for a lower commission price.

If you’re a more active trader or have a higher balance you might find more success, but many brokers will lower your commission to either match what can be found elsewhere or to keep you as a client. At the very least, it’s worth asking to lower your price.

Watch Your Paper Trail

Online brokers hate sending out paper anything. It adds to their cost and eats into their profit, so it makes sense that they’d prefer digital communications. As a way to incentivize customers to switch over, many discount brokers charge at least $2 per paper statement or trade confirmation.

Instead of choosing the paper option, go the electronic route and download the statements you need. If you do choose the paper route, make sure you’re not being charged, as the last thing you want is to overlook an ongoing monthly fee. (As a bonus, when you go digital, you can feel better about the environment, too.)

Don’t Have Too Many Holdings

Proper diversification is important, though not to the extent that it’s actually costing you money to do so. This is really an issue faced by those just starting out or with small portfolios.

Think of it this way. You’re starting out with $200 to invest and pay a $10 commission. That is 5 percent you’re paying to make that trade. Do that a number of times throughout the year and it adds up quickly. Instead, lower the number of trades you’re making. If you’d rather trade more often, then consider finding a brokerage that offers commission-free exchange-traded funds.

Buy Directly From the Company

The proliferation of online brokers has led many consumers to believe that they’re the only option when it comes to investing. What many people don’t realize is that many, though not all, companies sell their stock directly through someone called a transfer agent. Some companies will act as their own transfer agent, but in most cases they use a company like Computershare to sell the stock.

The nice thing about purchasing stock through a transfer agent is that it’s often free or at least relatively cheap. The one downside to investing through a transfer agent is that it can lead you to being too spread out among different securities, but can be a good option for long term investors.

Make Them Do the Work for You

While online brokers offer the best price for online trades, most charge upwards of $50 to place a trade for you. This cost can be a problem if you prefer someone else do it for you or if you’re not very computer literate. There is a solution to this problem, though. The service isn’t advertised, but if you call in to your broker and explain to them your challenge, most will walk you through placing the trade online for no charge.

This strategy also works great if you have other challenges with the web page as the representative can walk you through the site for free — don’t be afraid to ask.

Investing online can be overwhelming for many people. It is already relatively cheap, but with a little creativity you can save even more money.

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5 Ways to Save When You Invest Online originally appeared on usnews.com