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Non-Tech : Datek Brokerage $9.95 a trade
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To: (no name provided) who wrote (5552)10/23/1997 1:56:00 AM
From: Jon Tara  Read Replies (2) of 16892
 
Fast orders are debatable. They go from 1-2 seconds to horrible (several minutes, or not done at all when they clearly should have been).

Margin - rate is 7% which would be very hard to beat elsewhere without a very large account. They don't charge margin interest for daytrades. Minor downside - they are very strict about margin maintainence - you cannot buy new stock on 30% margin, as you can with some other brokers. (e.g. with some other brokers you can buy on 50% margin. The next day, the requirement is maintainence. You can now buy new stock with 50% margin on the new stock you buy and borrow against the old stock on 30% maintainence margin). I have no beef with this, as it is simply prudent.

I have often gotten trades in-between the bid and the ask, and even bought at the bid and sold at the ask. Again, this is debatable and highly variable from trade to trade.
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