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$75 fee for foreign stocks


matjone
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I tried buying some FRFHF and it is saying that there is a possible $75 fee for the order.  The customer support at tradeking said that this is because it is a foreign stock and isn't listed on the major exchanges in the u.s. (I live in the u.s.).  He also said that there was no way for them to know if this fee would be charged or not.  Does anyone know if I will have to pay this fee?  Is there any way for me to buy some fairfax stock without paying it?  I'd like to buy some but I'm not looking to buy enough to make it worthwhile with a $75 fee.  Thanks

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The reason why this comes up is that some brokers reserve the right to execute The OTC "F" foreign shares directly on the (local) exchange.  But that usually is only if you buy a lot... I think at TDA (at least for advisors) it's 50k shares... so maybe Fido has a similar deal and if you do do that, they reserve the right to charge you, but in that case the better execution would be so much better that it would be worth it anyway.

 

That's my best guess why Fido states the fee, but doesn't really charge it for investors here at least from what's been said.

 

Ben

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  • 1 month later...

Well I looked through all the brokers that were mentioned on here.  Every one of them said that I would be charged an extra fee in the range of $50-$75 for trading foreign stocks, except for TD ameritrade.  I am thinking about opening an account so that i can avoid the fee for foreign stocks.  Anyone here have anything to say about ameritrade, good or bad?  Thanks,

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