If you are thinking about Rabee Securities, DONT!!!

[I AM]

I opened an account with Rabee Securities about 15 months ago. Their fees are astronomical!!! I would suggest you not invest there. The benefit I get from their analysis does not cover the costs.

For example

Warka paid up shares....To purchase my 2,000,000 additional shares Rabee charged me 600,000 IQD (30% commission...WTF).

NOW, to get my 200,000 FREE shares Rabee is charging me 100 USD.

This is BS, so I sent an email to close my account.

The service is good, but the costs are too high for me.
Im going to transfer the money to Warka and have it done there.

[cowpoke]

WOW!! They Ganked you for a fee to get your FREE Shares?
That could be illegal, all it is is a paper swap. This smells fishy, that is uncool.

[dim sum]

Are you sure there has not been some misunderstanding?

To the best of my knowledge (I've met Shwan & think highly of him, though he is not my broker), most brokers are charging a 1% commission for trades and free shares, as Cowpoke stated, are commission free.

I think you owe it to yourself to obtain a proper explanation from them before severing your relationship.

[I AM]

I'm sure they were not mistakes. When I questioned the charge as being too much. (the 100 USD charge - I had the original 600K IQD reduced to 250K). Here is the email response.

"We are sorry that you feel that way, but we do have to do much work to get these shares into your account."


I WILL be closing my account next week.