I just saw there ad on CNBC today and checked out their web site. Apparently, they don't charge commission on trades which meet their criteria. From their web site (http://www.lowfees.com/):
"No minimum account balance required. Commission free schedule applies to 1000 shares or more of NASDAQ stock valued at $5.00 or more per share and 1000-5000 shares of an exchange listed stock valued at $5.00 or more per share on market orders only. All orders are subject to a $3.00 postage / handling fee. Although there is no commission to you, we may receive payments for these trades from our clearing broker. Your confirmation will indicate if such a payment has been made."
Does anyone have experience with this brokerage firm? How reliable are they w/r to execution speed and quality of executions? Is their customer service reps responsive to customer concerns? Any comments would be appreciated.
David |
