Comments on: Trading Global Stocks Becomes Easy with E-Trade Global Trading http://www.thesunsfinancialdiary.com/investing/trading-global-stocks-becomes-easy-with-e-trade-global-trading/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Frankiehttp://www.thesunsfinancialdiary.com/investing/trading-global-stocks-becomes-easy-with-e-trade-global-trading/#comment-42238 Frankie Wed, 30 Apr 2008 21:47:57 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/trading-global-stocks-becomes-easy-with-e-trade-global-trading/#comment-42238 Be careful, not only does e*trade charge very high commisions on both ends of the global trade, but they also charge an "exchange rate" that basically skims 1% off the top of your buy/sale. On top of this i've had a few global stocks with etrade over the past few months where I haven't recieved the dividends.Say you have $3,000 to spend on global stock XYZ They charge you an exchange rate that is about 1% lower for buy and 1% higher for sells. than the real exchange rate so thats $2,970 right there. Once you place the trade it is 19.99EUR = about $30. Now you are at $2940. Say the stock stays flat and a year later you decide to sell and the currency is still the same. Once again they will charge you 19.99EUR = $30. $2,910. Problem is your money is still in foreign currency, if you want to switch it to dollars you'd have to submit to their bad exchange rate, so 1% of $2,910 is about $29.1, your left with about $2880. It costed you nearly 4% of the stocks value just to buy the stock and then sell it!!!!Total amount stolen from e*trade $29.1 $30 $30 $30 = $119.1 out of a $3000 sale to buy and sell a stock!!Did I also mention they "forget" to give you your dividends!Stay away from e*trade, i'm trying to get out myself. Be careful, not only does e*trade charge very high commisions on both ends of the global trade, but they also charge an “exchange rate” that basically skims 1% off the top of your buy/sale. On top of this i’ve had a few global stocks with etrade over the past few months where I haven’t recieved the dividends.

Say you have $3,000 to spend on global stock XYZ
They charge you an exchange rate that is about 1% lower for buy and 1% higher for sells. than the real exchange rate so thats $2,970 right there. Once you place the trade it is 19.99EUR = about $30. Now you are at $2940. Say the stock stays flat and a year later you decide to sell and the currency is still the same. Once again they will charge you 19.99EUR = $30. $2,910. Problem is your money is still in foreign currency, if you want to switch it to dollars you’d have to submit to their bad exchange rate, so 1% of $2,910 is about $29.1, your left with about $2880. It costed you nearly 4% of the stocks value just to buy the stock and then sell it!!!!

Total amount stolen from e*trade
$29.1
$30
$30
$30
= $119.1 out of a $3000 sale to buy and sell a stock!!

Did I also mention they “forget” to give you your dividends!

Stay away from e*trade, i’m trying to get out myself.

]]> By: MoneyNinghttp://www.thesunsfinancialdiary.com/investing/trading-global-stocks-becomes-easy-with-e-trade-global-trading/#comment-18837 MoneyNing Fri, 17 Aug 2007 15:02:42 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/trading-global-stocks-becomes-easy-with-e-trade-global-trading/#comment-18837 Being an ETrade customer, I was pretty excited when I heard about this too. However, I've just been too busy to check it out when it came out a few days/weeks ago. I'm glad that you gave this summary since I now know that I'd rather open an overseas account if I want to trade in the Hang Sang :) Being an ETrade customer, I was pretty excited when I heard about this too. However, I’ve just been too busy to check it out when it came out a few days/weeks ago. I’m glad that you gave this summary since I now know that I’d rather open an overseas account if I want to trade in the Hang Sang :)

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