You asked for any info/experience with Jack White.
I use Jack White, in part because they are near where I
live, although they are mainly set up to do business by
phone and the net. There is internet trading through the
pawws finance site, although, you cannot short or trade
options at:
pawws.com
White is setting up their own site at:
jackwhiteco.com
While this site gives a lot of info about White, actual
trading will not be implented until another couple
of months.
You can also use an 800 number to computer trade, but
the downside of this is that it will cost $30 for software
(Compupath) which they sell.
Executions are reasonable, but my subjective experience
tells me that e.schwab is a bit faster and better, perhaps
because Schwab clears their own trades and White
uses DLJ as a clearing house.
White's biggest virtue, aside from being a short drive
away from me, is in trading mutual funds. For a fee,
they will let you buy load mutual funds without a
load by crossing your trade directly with other investors.
(The seller of the load fund gets part of the fee.)
They also allow you to short mutual funds. A similar
crossing system for NASDAQ stocks also exists,
so you can trade between the bid/ask, although at
present only about a 100 of the most heavily traded
stocks are in their system.
Overall, I would rate them as good but not great
with the hope that things should improve.
Bob |
