Why Your Broker Charges You For Doing Nothing
The Broker Fee Most Traders Forget to Check
Most traders compare spreads, commissions and withdrawal fees before choosing a broker—but many forget to check the inactivity policy.
An inactivity fee is an account maintenance charge that may apply when a live trading account has had no activity for a specified period. Depending on the broker, “activity” may include:
• Opening or closing a trade• Making a deposit• Requesting a withdrawal• Logging into the trading platform
The trigger period and monthly fee vary between brokers and jurisdictions. Some brokers may begin charging after only a few months, while others allow a much longer period.
For example, TMGM’s Australian account information currently states that a USD 10 monthly maintenance fee may apply only after an account has remained inactive for more than 12 months. Inactivity is defined by the absence of deposits, withdrawals, opened positions and closed positions during that period.
Before opening any trading account, check:
How the broker defines inactivityWhen the fee beginsHow much is charged each monthWhether the policy varies by account type or regulated entityHow to reactivate or close the accountA transparent broker should make these conditions available before you deposit—not after the fee appears on your statement.
Always check the terms applying to the specific entity under which your account is registered.
marcoggee posted:the broker i use Amillex doesnt charge account fee
thank you for the support!
