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Technology Stocks : Identix (IDNX)
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To: RMP who wrote (3676)10/5/1997 12:57:00 PM
From: Hockeyfan   of 26039
 
My broker is ...

I use Fidelity for complete access to stocks, bonds, mutual funds, etc. This is my "investment" account. Exceptional service and order execution. Rather expensive until the recent introduction of discount on-line commissions. The discount currently only applies to stocks, but they are considering adding options.

I use Lombard for my "trading" account and all IRAs. They charge $14.95 for market orders and $19.95 for limit orders over the phone or PC. I place most of my orders over the phone because the security firewall at work will not let me handshake with Fidelity or Lombard on-line order services. Also, I have access to a phone 24 hours a day. Lombard was a little slow setting up my account but they have been great ever since.

Once the commission reaches $15 (one-way) I believe that order execution and other features become important. Some of the small discount brokerages do not offer options trading. I am indifferent between $5 and $15 from a transaction cost point-of-view. I don't ever want a $5,000 to $10,000 trade to get screwed up because I am trading with amateurs. I believe Lombard is probably the class of the discount on-line brokers and feel even more comfortable since they were acquired by Dean Witter Discover. I believe that DWD's purchase of Lombrard is why Fidelity initiated their on-line discount pricing.
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