WANTED Charles Schwab customers. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : WANTED Charles Schwab customers.

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Sidney Reilly who wrote (65)	11/13/1997 9:57:00 PM
From: Everett Bandman	Read Replies (1) of 69

ALL RE: e.schwab and penny (and low priced) stocks: I just found out that it is much much cheaper to use telebroker rather than the internet to trade low priced stocks through schwab. For tax purposes I had to buy 5K shares of a stock selling @ 1/16. The commission on this trade was $150 ($30 for the first 1K and 30 for each subsequent 1000). Thus the commission was 50%!! I knew this going in but thought I would write an email to complain about the pricing structure for low priced stocks. Low and behold I was informed that in some cases (such as this one) it is less expensive to use telebroker to enter the trade (39 + 4% of the total cost - 10% for using telebroker = $46.35. Not only did I learn something new but the service rep actually adjusted the commission to the telebroker rate saving me >$100 (that I was willing to spend). Perhaps this is just one anecdotal experience, but I informed customer relations that this is the kind of service that generates customer loyalty. By the way Bob, I too find that e.Schwab prefers fractions over decimals. I have entered 11/32 and had it converted automatically to .34375!

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next