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Non-Tech : Online Trading
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To: raymond marcotte who wrote (3)4/29/1998 10:02:00 AM
From: Dave Block  Read Replies (3) of 49
 
You are getting screwed by ameritrade. They sell their orderflow that is why it is so cheap. Meaning they charge you $8 and they pass your order to a market maker who will NEVER give you better than the offer or the bid. They pocket the spread. For example if you buy a 1000shrs of a stock, the spread is 1/2 point you get filled at the offer the MM who picked it up 1/8 below that makes $125 for YOUR ORDER. So wouldn't it be better to spend $40 on the trade to get the better price. Your the customer you deserve the BEST possible fill. By the way this is not against the law. Also ask your brokerage house what happens to your order they can't lie to you.
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