IMO , Penson Services is rather , well..... um conservative , to put it mildly.
Message 14321382
Message 14321947
And earlier last month heard that TRAC sent out some bulk e-mail calls from the margin dept , and the Margin email was sent improperly - the addresses should have been in
BCC.
Barry appologized and gave the victims 5 free trades.
BCC stands for "blind carbon copy"...but everyone who recieved those emails , also saw everyone else's adresseses LOL
at the same time, listed there. Just a little boo-boo.
ooops!
This is the most disconcerting thing about TRAC ....it's a tough job, but the margin dept and trade should become much more proactive in working with their clients....
A case could very well be made that this switch to Penson is going to cause more and more difficulties if they do not stay on top of it , and state more clearly and exactly what their requirements are. IMO .
But ultimately it is up to the trader to check his own margin status....with Penson it is kind of crap-shoot to understand their guidelines, which should be made clearer.
TRAC doesn't help ,either, for they are not known to ever pick up a phone and ever make an attempt to make direct contact ....Barry loves the "Software does it all approach"...which works OK ,if they themselves have some answers.
though , for now a case could still be made for a little one-on-one approach , and working as closely with their clients as possible, till they get away from
this treading water, "confused"
state.
;-)
mars
PS: CyberCorp & Tradecast also uses Penson, as does AB Watley I think...TerraNova and MBTrading use Southwest Securities, and they are sharp !
for clearing ....and Speer,Leeds, and Kellog are some of the finest IMO ....see here at REDIBook: redibook.com |
