Lightspeed platform fees.. hit by surprise, anyone else?

Discussion in 'Retail Brokers' started by akeserla, Apr 4, 2016.

  1. akeserla

    akeserla

    All,

    Just got off the phone with lightspeed support. I have had an account with lightspeed since early 2009 (when platform was free), I had been fairly inactive the last couple of years as I had not been doing well with my trading (LS and elsewhere).

    I was trying to get my tax documents in order and i realized that I was billed for platform since it transitioned from Apex to wedbush.

    I was shocked to see charges for almost a year & half (though they had been random applied some months and not the others). I had random futures fees applied in the past that I had not subscribed, however that was resolved amicably.

    I have been charged $863.92 and I never received any notification electronic nor snail mail. I never delete emails and dont have email that was apparently sent out around 9/26/14. Lightspeed emails are in my safe senders list and I even searched spam (nothing landed there - know its just 30 days of mail but something would have been there if it did end up there).

    I would like to know if anyone had the same issues with platform fees and whether long time customer received any emails (maybe some got it and some didnot). I am asking for proof about delivery of email blast.

    They indicated that platform fees is something that they dont reverse, however I was never notified and was not even aware that I was billed. I was expecting a $20 a month for data fees and nothing more. Lesson learned, to keep a watch on the charges from ur brokerage