I haven't posted here in a long time. But I find your post rediculous. You must be new to Datek. I have been with them since slightly more than 2 months after they started on line (early September 1996). Certainly they have had many problems over the past 18-20 months, but they have always had reliable service, though sometimes exceedingly lousy customer service.
I also have accounts with other online brokers, have had accounts with personal full service brokers, etc. I find some competitors impossible to trade with, for example, I recently placed a buy (limit at market) of 5000 shares of stock with a competitor at 10PM the night before, the next morning I checked it two hours into the session, it had not moved, I decided I could use 10K shares so placed an order with my account here. 10 seconds and it executed, I left the order with the other broker, it expired at the end of the day unexercised. I have never had an at market order with Datek fail to execute though some have taken several minutes.
When your open orders suddenly disappear into never never land, and Datek says you must have never placed them, you will chew your fingernails off.
Are you to ignorant to record the control number that comes with your immediate notification of acceptance?
I could go on, but won't. All here are familiar with what I speak. Consider yourself lucky if you aren't....... YET
Most of us have heard these complaints, probably most of us have gotten partial fills, as for the rest I have only heard of them. After two years and several hundred trades with Datek, I remain one of if not their most satisfied customer.
One must first know the limitation of a product, he must then decide if he can live with those limitations, finally if decides he still wants the product and buys it then if he bitches about limitations that he decided to accept he is indeed a whiner!! That does not preclude advocating changes that will improve the product or service, but when one rants and raves about something they should have expected, knowing the territory, then it is tantrum throwing and ineffective.
A positive point that maybe you are too new to know about. Last October Datek was just about the only broker online or off line that had any semblence of normal operations during the two busiest days in the history of the exchanges. When the nitty gritty counted you could count on Datek. Further what other brokerage is even considering real time streaming quotes for free? for that mater what other brokers give unlimited free real time quotes? Not many! Especially with under $10 trades!
It is pointless to go on, and I do not intend to fight Dateks battles for them here or any where else. If Datek comes through with their rumored IPO I will be one of the first in line to get in on it though.
Rod |
