TD Ameritrade user? Question regarding selling Free ETFs

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billy269
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Re: TD Ameritrade user? Question regarding selling Free ETFs

Post by billy269 » Sat May 12, 2018 12:23 pm

livesoft wrote:
Sat May 12, 2018 12:14 pm
It certainly would be nice if TDAmeritrade WARNED clients just before they clicked on "Confirm" if the order they were submitting would result in a fee along with the exact amount of the fee. And that means no mushy words like "There may be a fee."

As it stands, if one doesn't investigate on their own (look at Buy transactions in the past 31 days), then one can be surprised.
Completely agree. Their vagueness is obviously intentional. Merrill Edge seems more clear and upfront about commissions and fees since I switched to them.

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Earl Lemongrab
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Re: TD Ameritrade user? Question regarding selling Free ETFs

Post by Earl Lemongrab » Sat May 12, 2018 12:27 pm

billy269 wrote:
Sat May 12, 2018 12:20 pm
Earl Lemongrab wrote:
Sat May 12, 2018 10:14 am
billy269 wrote:
Fri May 11, 2018 11:36 pm
TDA ripped me off quite a bit a few years ago when I bought a bunch of no fee etfs but got charged because I wasn't"in the program." Fortunately they dropped having to be in a program to get the etfs with no commission now. I thought that was shady.
How is that a rip-off? Like Livesoft said, the terms were at the time spelled out. And when I had a problem like that, they waived the fees once I signed up.
Because the way they marketed the free trades was very deceptive (purposefully). They refused to credit me for the trades I place before enrolling in the "program."
I don't agree that they were deceptively (maybe less than optimally) marketed or that it was intentional. The terms were spelled out. The fact that you or I didn't read terms is our problem. I do agree that a warning would have been appreciated. Apparently the situation is better now. I really haven't bought anything there recently because of the changes to the free list.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

danaht
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Re: TD Ameritrade user? Question regarding selling Free ETFs

Post by danaht » Sat May 12, 2018 1:04 pm

livesoft wrote:
Sat May 12, 2018 12:14 pm
It certainly would be nice if TDAmeritrade WARNED clients just before they clicked on "Confirm" if the order they were submitting would result in a fee along with the exact amount of the fee. And that means no mushy words like "There may be a fee."

As it stands, if one doesn't investigate on their own (look at Buy transactions in the past 31 days), then one can be surprised.
Agreed. They should list the "estimated" commission fee as part of the sale - and if there isn't one put $0.00. Most brokerages that offer free trades on some ETFs will do that now.

SlowMovingInvestor
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Re: TD Ameritrade user? Question regarding selling Free ETFs

Post by SlowMovingInvestor » Sat May 12, 2018 2:29 pm

I know this is an old thread, but I just wanted to share my experience with selling some Mutual Funds (which have a 180 day holding period) at TDAM.

The short term redemption fee for No Transaction Fee MFs is applied FIFO. I think you do need to specify FIFO as your preferred method in that case. I think it would also work if you specified a lot > 180 days.

Of course, TDAM's polcies for MFs may be different from those for ETFs. With a 180 day holding period, MFs would be hard to sell without a fee otherwise.

Sparky24
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Re: TD Ameritrade user? Question regarding selling Free ETFs

Post by Sparky24 » Mon May 14, 2018 11:27 am

livesoft wrote:
Fri May 11, 2018 7:37 pm
Click on the menu Research & Ideas, then Commission-Free ETFs and the following appears:

Image

Don't forget to scroll to the bottom.
Got it.. Thanks. That is clear. I would not exactly say that having to dig down and read the fine print qualifies as blinking lights, but it is clearly stated.

I still wonder how many times people are bitten by this fee and do not even realize it. The only way that I saw the charges was to look at past transactions. I agree with some of the other subsequent posters on this thread, that TDA should show you the relevant transaction fee in the same screen that comes up with a prompt to confirm your trade rather than a generic statement that 'fees may apply'. It is not difficult to code a look up for last transaction date for a specific fund for a specific account, so that leaves it as a matter of choice. Another matter of choice is not showing the days remaining for any free trades. They only show the number of trades remaining.

Any way, I don't mean to rant and do appreciate the feedback. You are correct and it is clear to me now.. Thanks!

gilgamesh
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Re: TD Ameritrade user? Question regarding selling Free ETF

Post by gilgamesh » Tue May 15, 2018 7:12 am

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