Foreign settlement fees?

By bluesharpbob, July 26, 2013

I’m a fairly new irregular & have a question. STTYF was down to $1.63 today,& I decided to jump in. When I went to purchase shares through my Fidelity account, I was surprised to see they were tacking on an estimated $50 ”foreign settlement fee”. I have bought SAND several times through them & never ran into this fee before. Do other brokers charge this fee too? Does anyone know a way to avoid it? Thanks for any info you can provide.

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Travis Johnson, Stock Gumshoe

Many do add these fees, particularly if they’re really trading on the overseas exchange for you and just reporting it with a pink sheets ticker, which some do for Canada since the market hours are the same and overlap is great. I’ve paid the same fee with Fidelity, but don’t think I was charged that fee with Ameritrade for the same stocks … so in my experience it depends on the broker.