bad experience in Charles Schwab recently Message Board

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Non-Tech : bad experience in Charles Schwab recently

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To: Cisco who wrote (77)	8/24/1997 2:31:00 PM
From: Cisco	of 124

The following information is believed to be correct. However, nobody should rely on the following information without verifying it for themself. Commissions are constantly changing and I do make mistakes. I was surprised that some people do not consider Schwab to be a premium price discount broker. So I decided to run a comparsion of a block trade similiar to what I might make on any given day. If your trading habits are different, then this comparsion may not be for you. COMMISSIONS FOR BUYING ON-LINE 5,000 SHARES @ A LIMIT ORDER OF $2.00 PER SHARE: Frontier.............................$ 4.00 Wyse Securities......................$ 7.95 Scottrade............................$ 9.00 Datek................................$ 9.99 FarSight Financial...................$ 10.00 e-Broker.............................$ 12.00 Waterhouse...........................$ 12.00 Pro-Trade............................$ 12.00 First Flushing Discount..............$ 12.00 Pacific Brokerage....................$ 15.00 Stock-4-Less.........................$ 15.00 Investex.............................$ 18.00 Ceres Online.........................$ 18.00 J.B. Oxford..........................$ 18.00 Brown & Co...........................$ 19.00 Newport..............................$ 19.00 NDB Online...........................$ 19.00 Wise Choice Discount Brokerage.......$ 19.95 Savay Discount.......................$ 19.95 Discover Brokerage Direct (Lombart)..$ 19.95 E-Trade Securities...................$ 19.95 Beckman Discount.....................$ 20.00 CompuTel.............................$ 21.50 Tradewell............................$ 22.00 Wall Street Access...................$ 25.00 Professional Discount Securities.....$ 25.00 P.T. Discount........................$ 35.00 Andrew Peck..........................$ 50.00 A.B. Watley..........................$ 75.00 Regal Online.........................$ 80.00 Aufhauser............................$ 90.00 Wall Street Electronics..............$ 99.95 PCFN.................................$ 100.00 Jack White...........................$ 100.00 Freedom Investment...................$ 100.00 Net Investor.........................$ 104.00 Siebert Online.......................$ 105.00 Fidelity Web Express.................$ 108.95 Quick & Reilly.......................$ 109.95 Sunlogic.............................$ 119.00 Empire Financial.....................$ 125.00 American Express Online..............$ 131.95 e-Schwab.............................$ 149.95 Trade Fast...........................$ 150.00 Wilshire Captial Management..........$ 150.00 Active Investor......................$ 150.00 Bidwell & Co.........................$ 180.00 Charles Schwab Web Trading...........$ 200.00 T.Rowe Price Online..................$ 216.00 Fleet P.C. Trading...................$ 229.00 I believe that the best online broker for any given person is the one which provides the services they need with excellent executions, 24 hour access, and quick response to questions at the lowest price. I guess the first question is, does one of the lower price discount brokers provide a quality of service at least equal to Schwab for the services you need? If so, then the second question is why pay the higher price? If all the investing you do is buy no-load mutual funds and hold them for at least 90 days, then I recommend Charles Schwab Web trading. If you buy mostly Bulletin Board or Canadian Stock then you can do a lot better with some of the other choices. If you are like me and fall somewhere in between, then you must look at all of the factors. Please post any corrections. Thanks Cisco

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