Linda, I too opened a small acct with Web St. for the free commissions. After using them for about 20% of my trades for a couple of months, I've let it go dormant.
First, I don't like their website. Entering orders is too cumbersome IMO. I'd like to see them copy Ameritrade's order entry system. I wouldn't recommend Ameritrade for other reasons, but their order entry is very streamlined.
The "free" commission is the part that really turned me off. Supposedly 1,000 shares over $2 is free. Unless of course your market order for 2,000 shares is executed as 800, 800, 400, or something equivalent. In that case they will charge you 3 commissions. Although they say they don't, good luck trying to get it corrected.
They will always tell you that they *will* correct it. I even had one lady tell me that is *was* corrected, and that my monthly statement was wrong. Finally I wrote them about it. Well, two months later and my monthly statements are still *wrong*. Maybe they credited somebody else's account, but it wasn't mine.
I haven't closed my account, because maybe someday they'll get organized. I just keep reviewing those statements every month looking for the correction.
Good luck,
Gary |
