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Found a hidden fee in my broker's fee schedule that cost me $75
I was reviewing my monthly statements from a discount online broker and noticed a $75 charge I never expected called an 'account transfer fee' even though I wasn't moving money anywhere. Turns out it's a fee for transferring positions between accounts within the same firm, which they don't mention anywhere on their main rate page. Has anyone else caught a sneaky fee like this from their broker that wasn't obvious upfront?
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river_adams2529d ago
Wow, that's brutal. I read a piece by some finance blogger last month about how brokers bury fees in the fine print. @dylan_stone33, that inactivity thing is ridiculous too. Makes me wonder what else they're hiding. Should be illegal to not put those charges on the main page.
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dylan_stone3329d ago
Right? I got hit with a $50 'account inactivity fee' out of nowhere last year. Total garbage.
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