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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: RFH who wrote (4097)	2/8/1998 9:59:00 AM
From: Linda Kaplan	Read Replies (1) of 18928

Rob, This is why I'm leaving Ameritrade. Ameritrade never offered me anything worth the trouble of being there. Their low priced commission only works for market orders placed on the web. Some of the things I transferred to them were stocks that can't be traded on the web: only through their broker. And when I placed a market order I got screwed. The MM spiked the price to take my order higher than the market. The web service is poor. The updates are often days late and you can't see what is going on in your account in a timely fashion. (In contrast to Waterhouse, where information is more current.) So you have to phone and to be on hold for 15 minutes to speak to a customer service rep who never knows very much. Also in contrast to Waterhouse where you don't have to wait as long to get a live rep, who usually knows a bit more than they know at Ameritrade. Ameritrade is still growing faster than they can handle. They will probably get things working better but it has cost me money to try to trade there, when I have had to wait so long to place an order and haven't been able to see if it went through. They do phone with reports, eventually. They're not horrible, but just growing and inefficient. I went there to take advantage of their better commission on shares of more than 5000, but found I was splitting my orders anyway, so didn't have any commission advantage on that. The place I'm trying next has FREE commissions on shares on the NASDAQ over 1000 in quantity. Now, that's a deal. And they have the most reasonably priced real time quotes that automatically update, and also offer Level 2 very reasonably. I'll report on how good they are. I'm keeping Waterhouse and Brown & Co, which I feel are very good. This is going to be a third active account. Linda

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