I think your overreacting. My thread will bring awareness about Tradezero's (or other brokers)high account related fees/exercise costs. Even if it sounds nothing other than a rant someone may benefit/save money from the post, heck you never know.
The fees are listed on their website. You didn't bother to look and go bitching about some exercise charges. If there's anything wrong, it is your laziness and stupidity. They are called TradeZero not ClearZero Go ask your mum if you want WineZero and DineZero
My client wasn't showing the new or old options chain for VXX after the reverse split. I was just completely left in the dark. I had no clue my puts expired itm and were exercised & even if I knew they were itm there was no option for me to get rid of them within the client. Also, since I didn't know they were exercised it made logical sense for me to assume it was related to the reverse split fee which also costed $35. Also, I mentioned they were at 0.01 cents. What I forgot to mention it displays the last price that was traded in my portfolio and not the current bid and did not fluctuate. At that point it was safe to assume they were gonna expire worthless.
A few times I had a question and searched here for the answer before contacting my broker. I was able to find the answer here and that saved me some time chatting with tech support. If it's something technical about the trade platform such as "How do I find my overall position delta", it's much faster to post a question here (I check Google first) and wait for a response (Tommcginnis probably knows the answer anyway) vs. call customer support.
There is also one thing I can't figure out. I bought 9.50 puts. With a 4:1 split VXX at around 40.20 close would be 10.05 for old vxx right? My puts should not be itm so why were there exercise charges in the first place or am I missing something here? The last numbers represents the strike price which was 9.50. I had nothing else besides those.
This is not an exercise charge DAN is wrong! This is related to the split. At the end it says split. 1st option chain are 9.50 puts. 2nd option chain are 25 calls. There is just no way in hell they can both be itm and I got fee related to exercise charges for that. $0.00 $35.00 Clearing VXX210423P00009500 Split $0.00 $35.00 Clearing VXX210423C00025000 Split Which means I won't be able to dispute it since it has nothing to do with the VXX options chain not working. I will just have to pay attention to upcoming stock splits or symbol changes before holding anything overnight. Wonderful! What's even more compelling if you bought a bunch of options for the same symbol at different strike prices they will charge you each time for all of them everytime there is a split or symbol change. This is pure gold!