Fed up with his brokerage statements, Paul Entin got out of it -- not the market, just his broker. Back in 1999, the president of a marketing and communications firm opened an E*Trade (ET:NYSE - news - commentary - research - analysis) account because the online broker had fewer fees and restrictions than bricks-and-mortar rivals. As the stock bubble burst, Entin sold his losers but saw nothing he wanted to buy. So he held steady. But then a $25-per-quarter inactivity fee, used to eke profits from customers who rack up little in transaction fees and have balances less than $5,000, began appearing on his statements. "I was livid," says Entin. "I closed the account a month ago. I didn't want to buy or sell something this quarter just so I could avoid some fee. I don't like being pressured into doing something."
Greedy Bastards.... Beating the High Cost of Trading-Account Inactivity |