Create an Account
username: password:
 
  MemeStreams Logo

MemeStreams Discussion

search


This page contains all of the posts and discussion on MemeStreams referencing the following web page: Beating the High Cost of Trading-Account Inactivity . You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

Beating the High Cost of Trading-Account Inactivity
by w1ld at 9:32 pm EDT, Aug 21, 2002

Fed up with his brokerage statements, Paul Entin got out of it -- not the market, just his broker.

Back in 1999, the president of a marketing and communications firm opened an E*Trade (ET:NYSE - news - commentary - research - analysis) account because the online broker had fewer fees and restrictions than bricks-and-mortar rivals. As the stock bubble burst, Entin sold his losers but saw nothing he wanted to buy. So he held steady. But then a $25-per-quarter inactivity fee, used to eke profits from customers who rack up little in transaction fees and have balances less than $5,000, began appearing on his statements.

"I was livid," says Entin. "I closed the account a month ago. I didn't want to buy or sell something this quarter just so I could avoid some fee. I don't like being pressured into doing something."

Greedy Bastards....


 
 
Powered By Industrial Memetics