I happen to be very pleased Datek.While I have too admit I just dropped in here and only took time to read the last 4-5 posts,so please excuse me if I ask questions or make statements already posted.
First I no practically nothing about options,puts,calls,etc.I don't need them YET.I trade 3-4 times a day with Datek and yet I don't even know if such things are available.While I'm sure certain investors may need more things than Datek offers, they are serving me very well.
Here's a few things I really like.#1.Real time account balance updates(a little more info latter on why this is important to me).#2 Unlimited free real time quotes so easy to get.I usually have about 20 stocks I own and a few to watch each day.You simply type in symbols separated by a coma for real time quotes of all stocks with one click of mouse(It did stop me a couple of time when my list was about 25+ long)It remembers your quote list even after you shut off computer.During crazy trading hours I can get all real time quote every 15 Seconds,etc(This may not alway work well near 4 PM if busy).#3.I like the simplicity of they're "portfolio"screen.All the info I need fast is all there,postions,real cash,buying power(with Margin),and Acc.balance #4 They're new site offers many improvments(I really haven't yet used all features as I feel at home trading on they're classic site),checks now available, and a small list of mutual fund.#5 GTC orders filled on different days only one commission(Schwab charges extra).I always place GTC orders for this reason,even if I cancel it at days end.I remember at Schwab on a GTC order for 1000 of a 1.50 stock,I think they got me 100 and cost 29.95( at DAtek buy more tomorrow no extra commission).
The bad stuff now.I did read a few post back about bad customer service.I've only had to call them about one thing(they blew it),people at customer service may be stupid or untrained.I mailed then a check to clear out an account from another broker,called after 2 weeks with out credit,then 3weeks,big run around must be lost ,mailed another check with clear instuctions not to cash both , they did ,check bounced ,bankers mad ,etc.I don't like the fact that you can only place stop/limit order on Nasdaq.I tdade about 90% Nasdaq or this would be a BIG problem.They did have one day the computer screwed up an lost my GTC orders but no real damage.
I've tried e*trade for two months and hated it(14.95/trade Hum? all mine where 19.95)and they almost never ever got me my buys or sells in.I was very excited about Ameritrade lower rate(I already even owned their stock)until I read it was extra for limit orders(All my sells are limit orders).*******I would be interested in info about Suretrade***Any good reports about it out there?
One last thing.Why I think real time updates are very important!I had my IRA in Schwab even though I was paying 3 times as much commission.Not a small thing to me as I've placed about 200 trades in 10 months,but I had some Mutuals,and I guess I felt a little bit safer with the Schwab name.Not to long ago I was locked out of my account for "freeriding",and offence that stops me from trading in that account for 90 days.Hell I didn't even know what freeriding was.I found out that in the morning a buy GTC order of stock was filled,forgeting about that I saw AMES stock drop,jumped on it thinking I had money,Ames went up 11/16 latter that day on I sold it.That's "freeriding" as I now know all to well.With realtime updates this could not have happened.( maybe lots of online brokers have real time updates but Schwab does not). |
