Depends on how much you trade... you say you made about 1.2 mln in 2 months with Credit Suisse... you either got very very very lucky on one trade... or very very very very lucky trading large size very frequently, therefore racking up significant fees. You trade lots, you have high fees... anyone here knows that... that doesn't have anything to do with whether you have a loan or not.
Hello, as promised I am posting here the extract from our demand letter to the Credit Suisse, sent by one attorney, in 2014 which may bring light to the questions about fees. Be well!
Meantime, the standard banking customs and usage prevailing in The Bahamas consist in applying to accounts trading in securities a fees schedule called "FLAT FEE" or "ALL IN FEE". As an example, our clients in their trading activity with UBS (Bahamas) Ltd. from July 2013 to September 2013 with the opening balance of USD $669,405.98 paid the total sum of USD $3,375.74 of "ALL IN FEE" fees during the relevant period.
Worth to note, that CS Nassau has published the "ALL IN FEE" fees too in its Fees and Commissions Schedule which is a part of the Agreement.
Considering that our clients traded in securities with CS Nassau from February 2009 to June 2009 with the opening balance of USD $360,312.27 the sum of USD $3,000.00 of "ALL IN FEE" fees would be reasonable. And that was what they expected from the bank and that was promised by bank's personnel. Instead, the sum of USD $574,959.75 was collected by CS Nassau as brokerage and transaction fees during the relevant period.
It makes evident that CS Nassau pursued a single aim in the relationship which is to generate brokerage and transaction fees.
Notwithstanding that CS Nassau relies on "that all fees levied in respect of trading activity were all times consistent with the rates that had previously been agreed", the collection of USD $574,959.75 as brokerage and transaction fees was invalid because it was actuated by bad faith.
Hello, as promised I am posting here the extract from our demand letter to the Credit Suisse, sent by one attorney, in 2014 which may bring light to the questions about fees. Be well!
Meantime, the standard banking customs and usage prevailing in The Bahamas consist in applying to accounts trading in securities a fees schedule called "FLAT FEE" or "ALL IN FEE". As an example, our clients in their trading activity with UBS (Bahamas) Ltd. from July 2013 to September 2013 with the opening balance of USD $669,405.98 paid the total sum of USD $3,375.74 of "ALL IN FEE" fees during the relevant period.
Worth to note, that CS Nassau has published the "ALL IN FEE" fees too in its Fees and Commissions Schedule which is a part of the Agreement.
Considering that our clients traded in securities with CS Nassau from February 2009 to June 2009 with the opening balance of USD $360,312.27 the sum of USD $3,000.00 of "ALL IN FEE" fees would be reasonable. And that was what they expected from the bank and that was promised by bank's personnel. Instead, the sum of USD $574,959.75 was collected by CS Nassau as brokerage and transaction fees during the relevant period.
It makes evident that CS Nassau pursued a single aim in the relationship which is to generate brokerage and transaction fees.
Notwithstanding that CS Nassau relies on "that all fees levied in respect of trading activity were all times consistent with the rates that had previously been agreed", the collection of USD $574,959.75 as brokerage and transaction fees was invalid because it was actuated by bad faith.
