I'm thinking of opening an account w/ MBT. I'll leave the account w/ Cyber open, and just put new funds into MBT - that way, I'm not stuck waiting for the money to transfer from Cyber to MBT. I can then close my Cyber account at leisure. Plus, I can have the security of knowing that in case things don't work out w/ MBT, or MBT is having problems, I can always go back to Cyber and my account is still open.
If on the other hand MBT is doing very well, and Cyber continues to screw up, I'll eventually transfer the rest of my funds from Cyber to MBT and close the Cyber account. Meanwhile I'll cut back on trading w/ Cyber.
Its amazing that Cyber would let things go so far - I used to do at least 30-40 trades a day with them. Now they are on the brink of losing me as a customer altogether. During these times of technical difficulties, it is a matter of simply self-preservation for me to cut way back on my trading w/ them.
It has been long in coming, but I'm finally ready to make my move and open an account w/ MBT. These problems have been going on way too long.
I am outraged that they'd let the rest of SCH customers have access to the Cyber quote feed, thereby overloading the servers for us, original Cyber customers. So far, I have seen no advantage and plenty disadvantages to this acquisition of Cyber by SCH.
Whoever decided to degrade the performance of Cyber to give some "perk" to the SCH customers is clearly clueless. That is a sure way to lose your active traders who need top performance from their broker's technical systems. It is stupid and short-sighted not to put the resources into making their technological infrastructure better. Instead, they decided to go the other way - overload w/ extra customers - and they end up not being able to service anyone adequately. I didn't sign up w/ Cyber to get Schwab quality trading performance.
They'll lose their high-margin providing clients (daytraders) faster than they imagine if they don't take radical measures NOW. Daytraders MUST have top performing systems - and any hint that their broker is willing to degrade that, will result in one thing: loss of a customer.
I for one have taken the first step: I'll open an account w/ MBT. The next step will be to close the Cyber account unless they get their act together - and I mean NOW.
Morgan |
