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Strategies & Market Trends : Online Trading - An Oxymoron? (EGRP, AMTD, NBD, DLJ, SCH)
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To: Louis Cornell who wrote (3)1/20/1999 11:54:00 PM
From: Mark[ox5]   of 50
 
17.J.B. Oxford (1-800-782-1876):
Limit orders (online): $18 ($15 + $3 fee) for up to 3000 shares, then .01/share for entire order; $50 for 5000 shares.
Market orders (online): $13 ($10 + $3 fee) for up to 3000 shares, then .01/share for entire order; $100 for 10,000
shares.
Limit & market orders (touch-tone): $2 extra per order.
Limit & market orders (broker-assisted): $8 extra per order.
Limit & market orders (for $250,000+ accounts) (1000-5000 shares only) ($5+ stocks only) (broker-assisted):
$2 extra per order.
Penny stock: .03 per share or 5% of principal, whichever is less ($25 minimum); $500 for 20000 shares @.50.
Options: $28 ($25 + $3 fee) + $2.75 per contract.
Margin rate: 6 1/4% to 9 1/4%: brokers call less 1/4% to plus 2 3/4% (very high).
Account minimum: $5000.
Real time quotes: 100 free for each order (phone); available on ordering only (online).
Perks: Free newsletters, reports, and charts. Personal brokers for phone customers. Foreign accounts OK.
Overall service rating: for online, good, not much feedback; for phone service, very good.
Comments: Some foreign traders recommend J.B. Oxford Switzerland (in Basel), where commission is $35 and free
phone is available anywhere in Europe. "They have personable, friendly brokers who exclusively handle your account."
Others say that these personal brokers try to influence you to buy or sell stocks. "The brokers are courteous [but they
leave quick]. .I had one broker who would call me if a stock made a major move [or major news], however, like the rest
he moved on.(7/24)" One complainer says: "It took them weeks to send me info, the program they sent was outdated,
...and they lost my check." "Beware of J.B. Oxford. . .[After] asking them to wire funds. . .I believe they are stonewalling
me on [the] transfer of my money.(2/26)" "I found the brokers rude. [They] don't like GTC orders [which] have to be
replaced every month. They resented this. . .and urged me to change brokers, which I did.(8/11)" "I had an account at
JB Oxford [which] I just closed because they have lousy service.(10/22)"
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