Good morning!
I think I'll need to find a new broker soon. I am very disappointed with my current broker, they charged me over $2K on EXTRA commission in the past month. I informed them since the very beginning, they never corrected it, now he sent me an email and telling me going forward will be corrected, give me a break!
From: Keith
Sent: Friday, May 25, 2007 8:27 AM
To: TIM
Subject: Re: FW: New Account
This will be adjusted for monday morning it will be $5 for UBSS going forward
Im sorry for the hassle Tim my programmers suck sometimes
On 5/25/07, TIM wrote
Keith, you were probable too busy, sorry I am bringing up this again, the issue with UBSS has not been corrected. I've made several hundreds trades with UBSS for the past month, each was charged $7 extra, I am paying $500 to $1k a day on commissions and fees, at this rate, my account could go to $0 very soon
Here are some trades I made yesterday with UBSS:
General Margin 05/24/2007 05/30/2007 124238 NA4AN HMIT HIDALGO MINING S -2,400.000 .80000 1,920.00 4.50 7.21 1,908.29 USD 05/24/2007
General Margin 05/24/2007 05/30/2007 125533 NA6JL HMIT HIDALGO MINING B 2,000.000 .84000 -1,680.00 4.50 7.00 -1,691.50 USD 05/24/2007
General Margin 05/24/2007 05/30/2007 130647 NA5ZF HMIT HIDALGO MINING S -2,000.000 .81000 1,620.00 4.50 7.18 1,608.32 USD 05/24/2007
General Margin 05/24/2007 05/30/2007 134018 NA6ZG JAGH US4700804093 JAG MEDIA HLDGS S -2,000.000 .77000 1,540.00 4.50 7.18 1,528.32 USD 05/24/2007
General Margin 05/24/2007 05/30/2007 134018 NA6ZG JAGH US4700804093 JAG MEDIA HLDGS S -2,000.000 .77000 1,540.00 4.50 7.18 1,528.32 USD 05/24/2007
General Margin 05/24/2007 05/30/2007 154150 NA7F0 JAGH US4700804093 JAG MEDIA HLDGS S -3,000.000 .75000 2,250.00 4.50 7.26 2,238.24 USD 05/24/2007
5 comments:
I've just sent an email back to my broker:
From: TIM
Sent: Friday, May 25, 2007 8:46 AM
To: 'Keith Sorrentino'
Subject: RE: FW: New Account
Keith, your programmer sucks costed me thousands of dollars, shall I take the responsibility for them?. Shall I pay for their mistake? I want you to rebate me the extra $7 I paid on each trade, otherwise, I have to look for other alternatives.
LEt me know if you switch,... who you go to. I might jump ship with you. Most vital... I get 15 Kbps tops. so When a stock is heavily traded it bogs down and my quotes are very very delayed. Not to mention I have had trades hang up for 30 min. to 90 min!!! I've been told it was the Market makers fault. ya right. I've lost $1000's of dollars because of these laggings.
If you find a online broker that has lightning fast connections let me know to check them out too.
Oh, and i found out i cant trade pink sheet stocks and I'm only allowed to place limit orders for options in nickel .o5 increments :(
Bught CSCT - like it so far, bought MGRM , trapped in, no choice but hold, bought CSUN 13.76, I like it today.
My broker and I had a mis-understanding from the very beginning. He said I will get a discount when I use UBSS route. I thought I would get a discount out of the current commission($4.50). So for the 1st several days with my new broker, I used UBSS a lot. After I found the error, I used less and less, I only used it when have to on OTC/pink stocks.
Called him, he said, the regular price to use UBSS is $7 extra plus the regular commissions. He gives me $2 discount and will give me back the ones he charged, that's not a lot, so I still pay $9.50/trade if I use MM UBSS. If I know this all long, I wouldn't bother to use UBSS.
I am running out of time to switch to another broker. I'll just don't use UBSS from now on. In a week, I will go to China.
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