Beware of high broker fees at TD Ameritrade when a stock-split happens...

Discussion in 'Retail Brokers' started by thecoder, May 6, 2019.

  1. thecoder

    thecoder

    TD Ameritrade has recently charged me a whoppy $38 for a stock-split !
    I was holding the stock in my portfolio for a long time now, it's just an ordinary listed Nasdaq or NYSE stock below $1, qty was about 3000 shares.

    When I complained about that high fee (and that there is such a fee at all), the support said this:
    "Reorganization fees are charged to cover the cost for TD Ameritrade to re-register the stock and to facilitate the reorganization in your account. This fee is listed on the website at Client Services > Pricing> Brokerage Fees > Reorganization. Reorganization fees are charged for reverse splits and not forward stock splits. "

    I think TDA should have informed their clients holding that stock in advance about the upcoming split date and the fees, which they did not in my case... :-(
     
    murray t turtle likes this.