E*Trade Responds Message Board

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Non-Tech : E*Trade Responds

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To: Richard L. who wrote (9)	8/15/1997 3:12:00 PM
From: Bikergirl	of 42

RE: (Has anyone had problems with ETrade's accounting? How about the way they treat margin accounts? I am not a bean counter so sometimes I cannot make sense out of their account balances screen. I have also lost money on a trade when I could have gotten out with a small profit by waiting to get into the system I am NOT pleased at all with their service.I am looking into Datek at this time.BTW I have even had trades put on margin when according to the account balances screen I clearly had the cash to make the trade! ) The ETrade margin acct. is divided into a cash "Type 1" sub-account and a margin "Type 2" sub acct. All marginable stocks(a rule of thumb for marginable stocks is any non Bulletin Board stock that closed the day before above $5 per share is usually marginable) will get bought and sold from the margin sub-acct. Therefore, if you had enough cash in the acct. to pay for it, it will still show as "M", meaning it is a marginable stock, not that you are paying interest on it.

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