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Non-Tech : E*Trade (EGRP) Suggestions (NOT FOR FLAMES!!)
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To: Gaurav Khanna who wrote ()10/8/1997 7:11:00 AM
From: pcyhuang   of 118
 
Pro and Con Experiences with Etrade

After having traded with Etrade for almost a year and having put
through over 100 trades, I would like to share with others the pro
and con experiences I have had, and some suggestions for Etrade
to improve its otherwise valued service.

Pro Experiences

1. low cost for vanila type of buy and sell orders.
2. ease of navigating the site.
3. good research support facilities.

Con Experiences

1. Etrade doesn't really understand option trading. For example, if
you try to do a put writing with full margin being set aside in case
the stock is put to the account, etrade would still consider this as
total naked option writing and would not accept such order. (Lombard
would.)

2. The stop loss type of orders at Etrade doesn't really work,
especially the good-till-cancelled variety.

3. The experience and knowledge level of its operating staff is very
low, and often can't answer more sophisticated questions.

4. Etrade has cost me several thousand dollars of profitable trade,
for having not executed my limit order with the stock traded through
my limit. Lately, Etrades takes about 3-5 days to resolve a trading
problem. In one case, the stock had more than doubled since
the occurence of the problem, and it just arbitrarily refused to
acknowledge or ratify the problem. In another case, it did compensate
me for a small error on its part.

Suggestions:

1.Etrade should build up its operating staff, so that a team leader
would adequately answer sophiticated questions.

2.Etrade should establish a channel for feedback from customers to
disscuss problems and suggested solutions.

3. Etrade should make its top management more accessible to customers.

Then etrade would be a much more valued service. Currently, my
tolerence level has been stretched to the point that I am actively
seeking an alternative broker. Any suggestion?

--
Please visit "Huang's Investment in Special Situations"
pronet.com.tw
pronet.net.tw
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