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: Michael Turner who wrote (9123)	7/17/1998 12:03:00 AM
From: INFO_DART	Read Replies (3) of 16892

Is Datek $9.95 Trade a Scam? Let's get to the bottom of this. You can trade for "Free" (e.g., no commission at Webstreet) if you trade 1000 share blocks. They make their money on the payment for order flow. No mystery there. Does Datek get paid for order flow. Does Island make money on my trade even if Datek "refunds" my $9.95. Since both Datek and Island are owned by the same people, are they still making money on my trade, even when they don't charge me a commission? What is Datek's business model? That is, how do they make money? Has anyone ever received a CASH refund of the $9.95 commission, after complaining that a marketable trade took more than a minute? I only receive credits for "free" future trades. Clearly false advertising. Thanks to anyone who can shed some light in this dark place.

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