Thank you for that feedback on your 5yrs with PCFN
I knew about the new commission structure going into
effect today already last month. I think they will
also re-market the site as D.L.G. the owners of PCFN
you should know that most Margin account statements
are very confusing, I think the SEC has gotten enough
complaints, and eventually the industry will reform.
The complication has to do with the fact that Most
Margin loans are drawn down automatically upon a sale.
instead of being handled as a seperate secured loan
that is evaluated seperately like it is at many
major full service brokerage houses. So your trading
cash and margin debits and credit are jumbled into
one statement, instead of being a seperate cash and
trading statement, and another margin loan activity
statement, which is what I currently enjoy, but
seriously overpay for...
I probably won't margin at this PCFN account because
I'm only interested in using it for very short term
trading, and will keep the bulk of my equities in
a full service account. Believe me, it's worth it
sometimes, to have both kinds of leverage at your
disposal. You can Margin nearly 70% with a full
service guy, if you do it a certain way, but you
can only margin 50% with a discount broker. So
I'd rather margin long term investments with as
little cash as possible, with a full service guy.
I hope with PCFN's new pricing structure, the server
does not get overloaded with new people & transactions.
One of the attractive things about PCFN for me is that
when I bring them up on my browser, I have ALWAYS been
able to connect. I can't say that is true with many
other trading sites that I have considered. Good Luck. |
