I was charged a ridiculous overnight short fee

Turns out that formula is right. And the fee wasn't $564 that came from other fees. It was like $385.

I am asking tradezero to see if they can waive some of this fee for someone ignorant but I doubt it. They probably just made this fee to cheat unexpected customers.

 

1. 7x sounds like a locate fee.
2. are you informed of the market rate before entering the order?

 

Which day of the week did you short? You got to remember there is the T+2 settlement

 

Read my above post.

200 sharesx0.275x7x market rate
that turns out to be $385

 

It's an offshore broker no PDT rule.

 

It is a separate division. They are also in the US.

 

asln short rate on IB is 549%. so if the broker charged you 7 times of market rate, it would be 549%/250*7*200*5.5=169. but the short rate at your broker may be over thousands%. who knows what is the exact calculation formula given the above number here?

 

If the rate is not shown when entering the order it can deceive many customers..

 

Shouldn't you divide by 365 instead of 250?

 

Who does TradeZero clear though? 700% sounds right for ASLN.