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  • Sven December 2022
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Exchange Fees on ADRs

I can’t figure out from my Schwab records how exchange fees are determined on some trades I made recently. I’m getting nicked for both buys and sells of a small-cap Spanish firm, and a separate fee for each fractional lot to boot. I pay just a few cents for a US stock or ETF, but it’s several dollars for an ADR trade that is under $5000. I fear the explanation may be arcane.

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