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Non-Tech : Web Street Securities (WEBS)

WEBS 19.42

-1.7%

4:00 PM EST

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To: Esteban who wrote (166)	12/18/1997 5:07:00 PM
From: Mike	Read Replies (2) of 1339

Esteban, Sorry, I have not as yet signed up for level II quotes. I had every intention of signing up by this time. However, after my first few trades I discovered that Web street was not all it was built up to be. My first trade was on a stock over two dollars per share. The commission is 14.95 right? Wrong! Web street goofed and charged me $30.00 for this one trade. Before this trade's settlement date I made two more trades. The stock price on both these trades was between 1 and 2 dollars. As I had not read the fine print(HUGE mistake on my part) and these trades cost me more than I intended. Web Street did make good on their errors, but I just don't like having a broker that I have to watch to see if they are overcharging me. Also, the fine print on the low price stocks really gets to me because these are NASDAQ stocks and I could be trading them at Datek. Also, their web site has glaring errors on these trades. One of my buy orders stated that I had bought, then sold, then bought AGAIN the same number of shares. This should have been one buy order. This is all very suspicious. As I cannot see any of the accounting entries for my trades I can only conclude something shady is going on. Are they churning my account? Is this the reason I was overcharged? I actually get to talk to customer service when I call, but I never recieve any answers. This makes me very nervous. I don't like being nervous about my money. I'm still on the fence whether to move my account back to Datek or not. I like having the ability to trade options, but I don't like doing business with a questionable broker. Mr Fox: Your input here would be greatly appreciated. Mike. PS. If things get smoothed out with WebStreet, I post my opinion of their level II quotes.

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