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Rter's and Fter's,
Is anyone aware of Fidelity's new STOCK commission schedule in which they
are now charging for every lot bot or sold even if you are below the 1000
share limit. Apparently, this new rule went into effect on 4/27/99. It no
longer allows for multiply trades on the same side, on the same day.
Example, if you bot 500 shares of DELL at 41.50 and then bot another 500 at
41.00 an hour later, you will now be charged 2 commission fees. This even
applies to "active" on-line traders...which I am. Normally, such a trade
would run me a total of $14.95 for the day for the 1000 shares.
Anyhow, when I spoke with Fidelity today about a trade I placed the other
day, I was informed of this new rule. I have now asked for a supervisor to
contact me regarding a wavier of this newly proposed fee, based on the fact
that I have already generated commissions of nearly $17,000 ytd and over
$26,000 last year. Am I alone in this fight or are others in the same boat?
Finally, the Fid. representative also told me that they sent a notice of
this new rule to their commission schedule several months ago. Well, I
never saw a thing, did you? Also, if you go to their website and check out
their commission schedule, it does not say anything either.
http://personal351.fidelity.com/accounts/services/content/socommissions.html
.tvsr
Any info would be greatly appreciated,
John Boggio
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