Hi,
I signed up here to alert others...hope this helps someone!
$35 Fee
I would like to alert everyone that if you stop trading with TransAct Futures for a year, they will begin charging you a $35 fee every month. Although this is of course mentioned in the contract you sign, I, like many others I’m guessing, based on the phone call I had, forget about this. I ended up losing about $200, but that loss was nothing compared to how I was treated.
My Bad Experience
When asking the customer service rep about this charge, I immediately accepted that I had signed the contract. I realize he didn’t make this rule, and I always believe in being kind. When I suggested TransAct give a courtesy email or phone call to remind its clients this fee will go in to affect soon, I felt like the customer service rep suddenly went into defense/attack mode on me. I was shocked. Out of respect for other clients, I knew I needed to report his attitude to his supervisor. I briefly explained his behavior and was told the call would be reviewed, but I wasn’t left with the impression that the supervisor cared that any of this had happened to me.
I then realized I had forgotten to leave the courtesy reminder suggestion with the supervisor, so I called back in hopes this won't continue happening to others (the more people who speak up, the better, right?). The original rep answered, and before asking to be transferred, my heart went out to him, and I asked if he hadn’t meant to treat me that way and was perhaps just having a bad day. He explained that his wife was in the hospital and that he is used to calls about the $35 fee not ending well.
I wished he and his wife well. However, sadly, it sounds like he’s used to getting quite a few angry callers over this issue, so much so that he immediately goes into defense mode, which means this same happens to many people.
When I spoke to his supervisor to suggest giving clients a courtesy reminder that they’ll soon be charged $35 every month, I was left with the impression that he didn’t care, which was disturbing. I figured since my reason for calling in the first place was to protect others, the best way to do that is to alert others online. Sorry to have to write an unsatisfactory review. :/
Closing Remarks
Perhaps other brokers do the same thing? Most traders are used to losing money, so I guess what’s $35 a month? Still, it’s the principal here that matters.
I will say that while I traded with TransAct, the couple times I called, Bill Zimmerman, who no longer works there, was always professional, respectful, and helpful. The customer service was good, and I never had any issues. However, based on how I was treated by upper management, I didn’t get the feeling they put their customers first, and that’s scary when money is involved. Sadly, for that reason, I don’t think I would ever choose to trade with TransAct again unless management changes. :/ Although to be fair, they probably constantly deal with very angry customers losing a lot of money, so they’ve probably had to develop a hard shell due to this. Again, I had no problems with them until this—just make sure you don’t forget about this fee if you ever trade with them! We all trade to make money, not lose it.
Happy trading everyone!
I signed up here to alert others...hope this helps someone!
$35 Fee
I would like to alert everyone that if you stop trading with TransAct Futures for a year, they will begin charging you a $35 fee every month. Although this is of course mentioned in the contract you sign, I, like many others I’m guessing, based on the phone call I had, forget about this. I ended up losing about $200, but that loss was nothing compared to how I was treated.
My Bad Experience
When asking the customer service rep about this charge, I immediately accepted that I had signed the contract. I realize he didn’t make this rule, and I always believe in being kind. When I suggested TransAct give a courtesy email or phone call to remind its clients this fee will go in to affect soon, I felt like the customer service rep suddenly went into defense/attack mode on me. I was shocked. Out of respect for other clients, I knew I needed to report his attitude to his supervisor. I briefly explained his behavior and was told the call would be reviewed, but I wasn’t left with the impression that the supervisor cared that any of this had happened to me.
I then realized I had forgotten to leave the courtesy reminder suggestion with the supervisor, so I called back in hopes this won't continue happening to others (the more people who speak up, the better, right?). The original rep answered, and before asking to be transferred, my heart went out to him, and I asked if he hadn’t meant to treat me that way and was perhaps just having a bad day. He explained that his wife was in the hospital and that he is used to calls about the $35 fee not ending well.
I wished he and his wife well. However, sadly, it sounds like he’s used to getting quite a few angry callers over this issue, so much so that he immediately goes into defense mode, which means this same happens to many people.When I spoke to his supervisor to suggest giving clients a courtesy reminder that they’ll soon be charged $35 every month, I was left with the impression that he didn’t care, which was disturbing. I figured since my reason for calling in the first place was to protect others, the best way to do that is to alert others online. Sorry to have to write an unsatisfactory review. :/
Closing Remarks
Perhaps other brokers do the same thing? Most traders are used to losing money, so I guess what’s $35 a month? Still, it’s the principal here that matters.
I will say that while I traded with TransAct, the couple times I called, Bill Zimmerman, who no longer works there, was always professional, respectful, and helpful. The customer service was good, and I never had any issues. However, based on how I was treated by upper management, I didn’t get the feeling they put their customers first, and that’s scary when money is involved. Sadly, for that reason, I don’t think I would ever choose to trade with TransAct again unless management changes. :/ Although to be fair, they probably constantly deal with very angry customers losing a lot of money, so they’ve probably had to develop a hard shell due to this. Again, I had no problems with them until this—just make sure you don’t forget about this fee if you ever trade with them! We all trade to make money, not lose it.
Happy trading everyone!
