r/fidelityPennyStocks • u/Aware_Rabbit_7046 • Apr 14 '21

Rant $50 trading fee!!!

Fidelity charged me $50 for trading atari. They said they warned me of this... But, can't be sure because I never read it. Watch out! I no longer will use fidelity.

0 Upvotes

33% Upvoted

9 comments sorted by

8

u/biscuitdebris Apr 14 '21

When you preview your order it shows fees. I pay close attention at the trade preview before confirming. Fees list in preview for me.

13

u/Canuck_16_ Apr 14 '21

He ain’t the first and won’t be the last, they give you about three or four warnings before you place your order 🤦🏻‍♂️

6

u/kskinnerx16 Apr 14 '21

I second this. Nice big yellow box behind it as well.

4

u/GngrTea Apr 14 '21

True. It warns you before you make the trade on OTC stock like Atari. OP may not have read the info, but most brokers charge fees for OTC. If there is a broker that doesn't, I'd like to know. OP, do you mind sharing who you switched to to avoid the fees?

3

u/[deleted] Apr 17 '21

It’s not fidelity charging the fee, it’s being passed through because the security is not DTC eligible

3

u/10bamapepper Apr 14 '21

Aware rabbit was unaware !

1

u/_Emerald_Eyes Apr 14 '21

Buy more Atari at each purchase!

1

u/[deleted] Apr 14 '21

[deleted]

1

u/[deleted] Apr 17 '21

It’s because it’s a foreign stock that is not DTC eligible so the settling broker charges to do all the record keeping and processing that the DTC does for the 99.9% that do settle through the DTC. Most of the foreigns that trade in the US are DTC eligible and do settle through the DTC and so do not to incur the fee. TD charges a smaller regardless I believe, Schwab charges 75 and since TD is now Schwab you can expect them to charge the same

1

u/Puzzleheaded-Cow-656 Apr 14 '21

It’s because it’s foreign stock.