Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: The Vet who wrote (7457)	3/22/1998 9:31:00 PM
From: RealMuLan	Read Replies (2) of 16892

The Vet: <<4. Mysterious margin calculations that are hard to verify. Mine are now right but it took several months complaints of incorrect calculations last year before they were fixed. I quite agree with you on this. I have some margin problems now with them. I already spent hours on the phone over the last two+ months, and still haven't got solved. The stupid mistakes they have made on my account last year (already corrected) included: forgot to pay me the interest on my cash balance; charged me twice interest on the same day because they overlapped the ending date and the beginning date between the two months. I think I was just lucky to find out the problems and got them corrected because Datek made it almost impossible for customers to figure out how they charged the margin interest. They don't even have the guts to tell the customers they charge 7% interest on short position if you use the margin part. However, I have to say their execution usually is very satisfying. So now I just try not to use the margin for overnight at all to save me the frustration. Good luck.

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