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GOLDEN OCEAN GROUP Message Board

  • ltbhdollars ltbhdollars Aug 1, 2008 10:57 AM Flag

    Foreign Security Fee

    My broker has been Atrade ever since they purchased Datek. The accounts I manage are Apex accounts.

    I have purchased a number of Golden lots in the past without any additional fees however a recent small oddlot purchase in a small Roth was charged $25 3 days after its purchase.

    Luckily I was doing a quick check of all accounts I manage this morning and jumped out of my seat when I saw this account was in a call situation.

    The following is an excerpt from Atrade email followup:

    "I have submitted the request to credit back your IRA the $25.00 Foreign Security Fee. I have been told by my clearing firm that this fee is only charged to the client if TD Ameritrade is charged by the Dealer, who is the purchasing agent on the foreign exchange. More and more dealers are charging this fee, so going forward you may be charged again as we pass through this fee to the client."

    For those that have been conversing with Golden management .... they may wish to pass this along during their next converstaion as this certainly does not follow "receiving better treatment" mention earlier.

    For all those that seem to wish a continued existance on the gray market, lack of liqudity and its ensuing broad bid-ask spread dealer stealing can now also have $25 dealer fees added to the list.

    This stock needs a recognized US exchange listing to eliminate many of the unnecessary costs that can really add up at the bottom line.

    Luck
    LTBH

 
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