Westgold Resources Ord Shs WGXRF

Foreign Transaction Fee

[goldenrob]

I was bottom fishing WGXRF, as it seems to be a great buy at this price, when my usual Schwab account said there was this FTF of $50.00 to initiate this trade.  I thought this was a normal U S OTC trade and not necessarily a foreign market.  This seemed rather unfair so I cancelled my order.  I wonder how many times this happened to others with the same result.  This is not going to help the share price.  Is this going to reconcile on the 23rd of this month with a somewhat new listing on the ASX 200?  Has anyone else run into this situation?

[MaterialsMan]

I do recall something about a new fee being added for foreign transactions. If memory serves me, it also said it applied only to purchases facilitated on a foreign exchange. Not foreign stocks with a U.S. listing. At the time, since I don't trade on foreign exchanges, I didn't delve into it. Not sure if this fee applies to buying stock on the Canadian exchange if it's a U.S. account

[amishelvis]

You are correct,, I just saw the $50 schwab charge yesterday. I'm currently away from good phone reception but will call them about in a month about that question and a few other questions.

[goldenrob]

I talked to a broker today and found out a foreign company on a foreign exchange is subject to the $50 fee if you want to trade. A  Canadian company on the TSX is a special arrangement for U S buyers and is only $6.99.  He thought it was interesting that WGX will be a new tier two producer which in and of itself will qualify it for purchase by more stock funds and ETF's. I told him

[prem124]

Personally I think weakness is related to forced selling due to takeover as the tsx listing was not ready in time. My brokers have to go through barclays and it is quite complex. Still most of my shares are not in my account.

[Odinson]

Hate to be the one to point out that you might be dealing with the wrong broker. I deal with RBC and my shares were home the nect morning after the takeover.

[prem124]

I deal with many brokers. I had shares next day in some of my accounts. Nonetheless I was posting that not to show my issue but broader issue affecting share registry and weakness caused by forced selling.

[Odinson]

My apologies if I came across as rude, that was not my intention.