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Non-Tech : Online Broker Down - Sue 'em - EGRP, JBOH, AMTD, SCH, NDB
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To: Pluvia who wrote ()5/25/1999 6:14:00 PM
From: EJ   of 253
 
Ladies and gents, let me warn you about Schwab. For long time I read posts by others complaining about Schwab's tactics and figured I was lucky. Well, my luck ran out last week and am I ever steaming about Schwab's cavalier attitude. I provided RTQ run, TOS run, exchange's run to back up my contention that they hadn't executed an executable trade only to be told by their smarmy manager that my trade, according
to their records, was placed 38 seconds after their status page shows (considerably later than I placed it) and the bid at which I wanted to sell had downticked in the interim. Why the gap in reporting the time the trade was placed? The smarmy manger implied it was my fault and had I placed a market order (don't exchanges encourage limit orders)instead of limit, it would have sold (yea, at what price?)How about giving customers the REAL time Schwab sends a trade to the floor so you know where you're at? I don't care so much about the loss of funds as I do about investors getting screwed so I'm filing a complaint. Suggest anyone trading on-line with Schwab watch the timing they show on their trades, but it probably won't help because you can't protect yourself from THEIR TAPE. Have had two friends whom I referred to Schwab get screwed the same way; they were told that their trade was placed after the bid downticked. They immediately moved their accounts - I'm doing the same. Incidentally,
the smarmy manager suggested that "since you're not happy trading here,maybe you should go elsewhere". Talk about cavalier
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