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To: Clarence Dodge who wrote (3211)	7/31/1999 1:44:00 PM
From: jebj	Read Replies (3) of 17977

>when using either of the integrated brokers, Preferred Cap Mngmt or Cyber X I believe. - Clarence As one that has in the past used Preferred Capital and now use CyberX, please allow me to state that not only are your talking apples and oranges but they are not even in the same Universe! And whatever the good or bad others may have had with Preferred Capital, my experience was so bad that I filed a complaint with the SEC on them. When I finally decided to close my account I called to see what timeline I was looking at to receive funds, either mailed or wired. I DID NOT tell "Sam", the agent I dealt with, that I wanted close the account at that time. After having waited the required 3 days for everything to clear I called back intending to have the funds wired to Cyberbroker to my Cyber account. I was informed my account had already been closed and a check SENT REGULAR MAIL to me! Over the next 15 days I was flat out lied to 5 times by 4 different people as to the status of my funds and even after a stop payment on the supposed mailed check and a request to wire the funds it took another 3 days to get to Cyberbroker. (When the check finally arrived the check was indeed dated the date on which they had told me it was mailed BUT it was POSTMARKED 8 FULL DAYS AFTER THAT DATE! They must be a very long way from the post office!) I first requested to talk with accounting and was told it was company policy that I could not do so. I then reqeusted to talk with a manager and was told that "THEY CAN'T HELP YOU." I was also REFUSED the information as to a name of an owner or senior company officer! IMOH, thesse people should not only not be in business but they should be in jail. OTOH, my experiences with Cyber have been outstanding. They are not perfect - seems no one in the trading world is - but they seem to really try to handle the few problems I have had. I have found their trades to be very fast and when using the "Cyber Limit" entry I get an improved fill a high percentage of times. jb

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