Re: E*trade buys Brownco
- From: bakmens@xxxxxxxxx
- Date: 29 Sep 2005 17:11:51 -0700
Not only will the $5 trade disappear, you'll pay minimally 10 bucks if
you trade an insane amount of times, $12 if you trade at least 15 times
a quarter - and even more if you trade less.
But the most insidious thing about this greedy acquisition - I'm sure
the Brownco prez makes out like a bandit - is the e-trade margin rate
which for me with a margin balance between 100k-250k is 1.75% HIGHER -
which translates to more than $2000 more interest a year!
No way I will pay that - so bye, bye e-trade/brownco! You'll also find
out that e-trade has much lousier customer service (so my friend have
told me) - and inactivity fees (if you're a buy-and-hold type and don't
trade often) of a staggering $40 a quarter - or $160 a year just so
they can hold your money! This really, really sucks! Time to find a
new broker. Who knows of another broker with the comparable margin
rates/commission rates of Brownco?
mb0...@xxxxxxx wrote:
> Does anyone know if this will be the death of the 5$ trade? If so, i
> will probably move my account.
>
>
>
> The Michael wrote:
> > They are buying up more customers yet, but they didn't buy me ...yet.
> >
> > http://news.yahoo.com/s/nm/20050929/bs_nm/financial_brownco_etrade_dc
> >
> >
> >
> >
> > --
> > Mike
.
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