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Non-Tech : Datek Brokerage $9.95 a trade
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To: Troy Nolan who wrote (3280)6/17/1997 4:50:00 PM
From: Quaddad   of 16892
 
Something is definetly not right. Datek is supposed to be completely automated. If we are getting bogus numbers on the confirmations, then you could say that it is possible for Datek to manipulate them to fit their needs. An automated system that takes 2 minutes to send a market order to market during market hours is a serious problem.

And for those conspiracy theorists in the crowd. Maybe datek is found a new way to get around their 1 minute gaurentee. The take 3 minutes to execute an order, then send you a confirmation stating that the execution took only 1 second but they didn't begin processing for 2:59.

I requested them to look into my problem today and have not heard anything as of yet. The last complaint I had on an order, Datek never got back to me and I was forced to file a complaint with NASD.

Datek is really becoming a joke. My last 4 purchases have been executed at premuim prices, once at 1/8 above the ask. I'm definetly moving my money back to PCFN when they lower their commission on Friday. $9.99 per trade is no bargain when you have to consistently pay 1/2 point higher for shares from when you enter your order. I have never had problems like this with ANY other brokerage I have
used. This is bordering on rediculis
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