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Non-Tech : Always Looking for Cheap Internet Brokers

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To: MichaelDP who wrote (230)	11/25/1997 12:00:00 PM
From: mtnres	of 602

Too bad for Farsight, my direct deposit starts going to them starting tomarrow. It will be over $10K. I will use the cash to buy my positions at their $10 rate and, unless they change their new pricing, end up requesting a DTC transfer to my new firm and close the Farsight account sometime before Jan. 12, 1998 (the day they change their prices). FYI: When I opened my Farsight account, I sent a small check ($100-$150) to ensure the account was open and active. Then I requested a DTC transfer (that's the key) from my old broker to Farsight. My stocks were out of my old account and showing and available in the Farsight account in two business days. This will very some depending on the firm you are transferring from and the firm you are transferring to but doing it this way saves what could be weeks of waiting if you go to transfer your account to open the new one. For those of us in penny stocks we all know that is unacceptable as their volitility is often too high to tie them up that long. If you just request a transfer, it will likely take several weeks, you must especially request a DTC transfer to get it done in days.

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