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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Robert Graham who wrote (5843)12/4/1999 2:11:00 AM
From: Dan Duchardt  Read Replies (1) of 18137
 
Robert,

I guess that depends on what "normal commissions" are, and the frequency with which one had to rely on the telephone. I recently opened and account with a broker (sounds a lot like the one you speak of) that charges very little for online trading. One of the concerns I had was that they had no back-up in place to deal with the inevitable technical failures. I told them I would be happy to pay $30 for a telephone trade if I ever needed to place one. They don't have an 800 number either, and I have placed several calls in my first several days because of problems I have had getting the system running properly, but phone calls these days are relatively cheap if you get a decent long distance service. Most importantly, there has always been someone to answer the phone, and they have been very responsive to my concerns. The system seems to be starting to behave as it should. I'd rather live with a system that is normally reliable and have to pay more for the extraordinary cases than to have one that has no extra charges but is less reliable and has an 800 number that might or might not be answered at all, or answered by someone who cannot help you. I remember the days when I tried to use Datek with its frequent system failures (that seem to be ongoing) and the inability to get anyone to answer when I called their 800 number. No thank you.

Dan
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