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Hi John,
I too was caught unaware of Fidelity's changes. I got a new fee schedule
back in my Feb. statement and read it very carefully. Nothing seemed to
apply to me or any Gold Circle traders, so I tossed it. On the 28th I saw
multiple commissions on several small trades that didn't add up to the usual
1000 shares. I e-mailed for a correction, but also scanned the website
looking for an explanation. I couldn't find a thing.
I ended up calling customer service and got the bad news. I complained
about no fair warning, but it fell on deaf ears. And, like you, I've paid
out a zillion dollars in commission since opening that account.
I'm also frustrated with the FoxPlus software. It's always had it's bugs.
But last week it offered me an updated download, only to say the update
wasn't compatible with Internet Explore 5.0. So now I'm supposed to send
time and energy replace a great browser with the old version?
I'm weighing my options, but my core trading account there is also set up
for all my electronic bill payments. So a transfer would require more time
and effort.
I'm open to suggestion. Please keep me posted.
Linda
Swope's Mountain Photography
http://www.swopephoto.com
linda@xxxxxxxxxxxxxx
Climb the mountains & get their glad tidings: Peace will flow into you as
sunshine into flower; the winds will blow their freshness into you & storms
their energy, & cares will drop off you like autumn leaves. John Muir 1838 -
1914
-----Original Message-----
From: G.John Boggio <boggio@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, May 03, 1999 4:16 PM
Subject: Gen: Fidelity's new stock commission schedule?
>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.htm
l
>.tvsr
>
>Any info would be greatly appreciated,
>John Boggio
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