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[sharechat] A disturbing new practice by DF Mainland


From: "Rhonda Tolhurst" <rhonda@po3.nsknet.or.jp>
Date: Wed, 30 May 2001 08:28:40 +0900


I have been using DF Mainland for about 2 years with few problems but a
recent dealing with them has left a bad taste in my mouth and I wonder
....am I right or am I wrong?

I put in a sell order for 4500 shares and they sold them in 2 lots.  The
first was 1000 shares and the next the remaining 3500. when I received my
statement I noticed they had charged me 2 lots of brokerage even though I
had only placed one order.  I wrote to them twice and received no reply so
after a week and a half  I wrote again and received the following
explanation:

"As your order was filled over more than one day, we charge two lots of
brokerage. $20 minimum for the first amount sold and then 0.7% for every
part sold after.

I am afraid we must pass these costs back onto you the client even though
you were not wishing to sell over more than one day."

Personally I find this to be a totally unethical practice and it leaves the
door open for them to freely split up any orders as they see fit.

Am I being too picky?  Where should I take my complaints?

I look forward to hearing anyone else's opinion on this

Tollymolly






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