My coversation with my broker--Questrade Canade when I want to buy ICPA was declined and was asked to pay $45 .00 (desk order)+ $450 extra for oder going through to buy a total share of 100,000 ($320 or so total value...)
Alpesh: Thank you very much for contacting Questrade. How can I help you today?
you: hi, why is my order rejected?
you: for ICPA
Alpesh: Let me check that for you. Please bear with me for few moments.
you: accountxxxxxxxxx
Alpesh: The stock is no longer eligible for online trading, due to this you can only place the order via our trade desk.
Alpesh: You can call trade desk using the following information:
Alpesh: Monday to Friday, 8:30 a.m. to 4:30 p.m. ET
Alpesh: Toll free:
Alpesh: 1.866.980.9590
Alpesh: From the U.S.:
Alpesh: 1.416.227.6911
Alpesh: Outside Canada and the U.S.:
Alpesh: (001) 416.227.6911
you: why
you: for trade dest, i need pay more $45
you: '?
Alpesh: Yes, also a special settlement is required for this, the fee for this is $450. From time to time the security's eligibility may change for online trading, OTC and pink sheet stocks are more prone to becoming ineligible, you can find the guidelines for this on the following page.
Alpesh: http://www.dtcc.com/products/documentation/as...bility.pdf
binglan yu: what's mean? i need pay more for $450? includ sell?
Alpesh: The $450 fee is in addition to trade desk fee and commissions, you can verify this on the following page:
Alpesh: http://www.questrade.com/pricing/admin_fees.aspx
Alpesh: Please refer to Other fees and then Settlement of non-DTC (Depository Trust Company) eligible securities.
you: this is so unfair
Alpesh: While I do understand your situation, the eligibility of securities do change from time to time.
Alpesh: Do you have additional questions today?
Alpesh: We have not heard from you. Do you wish to continue the chat?
you: this new rule from only in your company, or for all stock brokers
Alpesh: The DTC eligibility is common for all brokers, but the commissions and fee may vary from one broker to another and is based on management's decision.
you: ok
Alpesh: Is there anything else I can assist you with today?
you: no thanks
you: bye
Alpesh: Thank you for contacting Questrade. Have a nice day ahead.
