Stockpile.com $.99 stock trades at first glance looks like a good deal but look a little closer. They also implement a 3% surcharge or fee on debit card purchases regardless of amount. $buy $1000 worth of stock from them and their bank BMO which I believe is Harris Bank charges you the fee. The problem with that is that US Law states that a surcharge or fee when making purchases with a debit card not is allowed. In my opinion those 3% fees are illegal or should be because you are in fact making a purchase of stock with your debit card. Question is which is actually violating the law, is it just one or is it both of these companies ? Don't pay it! Open an account with TD Ameritrade, Fidility, or someone who charges you a set fee per trade without SCAMMING you with surcharges. A $1000 stock purchase or trade through Stockpile will cost you at least $30.00 debit card surcharge + $.99. ($30.99) TD Ameritrade for example: the same stock purchase is $5.95 with $0 debit card surcharge at least not for the first few months when you open an account. Stockpile should drop the surcharges and just charge a reasonable fee like everyone else. Anyway that's my opinion and your choice is yours to make.
Submitted February 17, 2018 at 10:41PM by herbw53 http://ift.tt/2F9IZgU
