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OK, so it's not as good as before. Maybe you feel like you were tricked into opening an account. Or, maybe American Express realized that they would go broke by giving away FREE, UNLIMITED LIMIT BUYS (and SELLS, for over $100,000).

Sure, did they realize too late? YES.

Do customers feel cheated? YES, most probably do.

Would it have been better for AMEX to keep the program going until they ran their business into the ground, just to appease customers? You answer this one.

In a year or so they would have to close the brokerage anyway. Instead, American Express NOW OFFERS...

1) 3 FREE MARKET-ORDER BUYS A MONTH for over $25,000

2) 10 FREE MARKET-ORDER TRADES A MONTH for over $100,000

3) Limit orders are now $19.95, $5.00 more but still inexpensive.

So, basically, Fools who buy-and-hold are unaffected. I didn't realize that this was only 5% of the Foolish community (sarcasm intended!)


Note: I have no position in AMEX, nor do I work for or represent anyone in American Express. If anyone in American Express wants to offer me a job, however.... just kidding.
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