Here is what has been said so far:
live chat
Stephanie Jones: Hi there! How can I help you?
You: Hello, I would like to chat about the low priced stock surcharge
Stephanie Jones: Sure, Daniel. Did you have questions on that surcharge?
You: I was wondering if you can drop that off, I am losing my shorts on intraday trading
Stephanie Jones: We can look into it on a completed order. Were you looking to have it reimbursed on a completed purchase or sale?
You: yes, please, and perhaps on future sales and purchases as well, I plan to be doing a lot of short term trading and it isn't really beneficial for me when placing large trade amounts.
Stephanie Jones: Ah okay. I understand that charge can cost up to $500 (click her for the calculations). Which is pretty expensive. Yet it does apply to all of our penny stock buy and sell orders.
You: Yes it is pretty expensive, and perhaps very unfair as well. Especially for a non-institutional investor.
You: could you have a look at a few trades for me please
Stephanie Jones: I see where you're coming from, Daniel. It actually cost us more to process such orders. In addition to that, penny stocks are a riskier investment (click here to learn more) than stocks at a higher dollar value.
You: That is true, penny stocks are riskier by nature of volatility. However, I feel that I should have some reimbursement for some of these trades that amount to about 10% of the total trade amount in surcharge fees.
Stephanie Jones: Okay. What dollar amount were you thinking?
You: On one buy order for PXYN I was charged $70.00 for "low priced security" surcharge. then, on a buy of TAUG I was charged approximately $64.00
You: Also, on a buy of NIHDQ I was charged approximately $69.00
You: So, $203.00 of surcharge for 3 trades is pretty ruthless I think..
and then the chat cut off, so she left me hanging, I am now 7th in line.. Oh brother..
