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Individual Investor Fees

The small investor is at a significant disadvantage of his fellow larger investor when it comes to fees.   The fact that the small individual investor pays the same transaction fee for a $500 trade that another investor pays for a $10,000 trade, results in a much higher percentage of capital being consumed by fees.   In general, for other businesses transactions the transaction fee amount relates directly to the size of the dollar value of the transaction being performed.    Why are transaction fees for buying/selling stocks not a percentage or sliding scale?    I've always been curious to the history of this de facto standard.  

Interested to  hear your thoughts on this.