Day Tradexchange Inc. (SYNJ)

[conela77]

It's something that brokers get away with doing on any stock that does a reverse split, not just SYNJ. I have been hit with them many, many times and probably hate them more than anyone else on the planet, and I totally agree with everything you said. They should NOT be able to charge more than the stock is worth. One time when I called my broker, I even said to the guy, this is a way someone came up with so that we can lose MORE THAN 100% of our investment, which I DID NOT agree to!!! I only agreed to lose 100%. Sometimes they leave one share in my account after they do it, which is worth less than a penny, which lets them charge another $20 the next time that stock reverse splits!!! This has also happened to me several times. You can't get rid of it without paying another commission fee to sell it! Crazy! At the very least, they should not have been allowed to charge the "reorg fee" on stocks held BEFORE they instituted the policy, as these were bought when no such fee existed if you got stuck in them during an R/S. Yet they WERE able to charge it on all of those stocks too! It's really excessive and adds insult to injury (along with more injury). At least with SYNJ, the good thing is they just recently did one, so it shouldn't happen again anytime soon, hopefully.