it's not that AmEx will not allow free trades if you buy and sell the same stock during the same day, they WILL NOT ALLOW SUCH ROUND-TRIP TRADES, period.
the free trades are for accounts with $ 100,000+.
they don't want daytraders, it's PROHIBITED, like in the old days of communist Russia.
so if you buy YHOO and later that day Tim Koogle has a heart attack and dies and the stock drops 40 points, you will not be able to sell it.
AmEx has had an online brokerage for some time, 2 years i think, but it was a failure until now, that's why they are "re-launching" it.
they don't accept international customers, either, and neither does DLJ nor Fidelity.
so, i stay with my beloved E*TRADE, thanks. |
