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Non-Tech : Datek Brokerage $9.95 a trade
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To: Billy Bob who wrote (9475)8/12/1998 9:28:00 PM
From: Morpher  Read Replies (2) of 16892
 
Slippage alone can very easily outweigh the commission savings. 1/16 on a 1000 shares is $62.50. And then there is having to put up with downtimes that can cost thousands, paying for separate Level 2 quotes, etc. Very soon the "cheapest" broker becomes very expensive. Read through the posts here, on the Steve Goldman's Trading Desk thread, or on MB Trading or CyberTrader thread and you'll see tens of real-life examples of those hidden costs. That's why it's a terrible advice.
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