Quick question about Datek... what is a "sellout fee"?

[gopunk]

fees

i think their "maintenance" fee is just bs but what can i do...

also what is a "full transfer" out of a datek account? is that just closing the account?

also, if i buy some stock, i should get something in the mail that says i own that stock, right? is that what they're referring to for "postange and handling fee for paper trade confirmations"?


thanks

 

[Peetoeng]

Originally posted by: gopunk
fees

i think their "maintenance" fee is just bs but what can i do...

also what is a "full transfer" out of a datek account? is that just closing the account?

also, if i buy some stock, i should get something in the mail that says i own that stock, right? is that what they're referring to for "postange and handling fee for paper trade confirmations"?


thanks

If your equity in your margin account is less than a sellout minimum, they will sell all your holding and charge you a sellout fee.
Sellout minimum is usually lower than margin call minimum; so you should receive a margin call first before a sellout occurs unless of course your holdings are tanking precipitously.