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Non-Tech : E*Trade (NYSE:ET)
ET 16.71+1.7%Nov 28 12:59 PM EST
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To: Edward Ip who wrote (3703)11/3/1998 9:25:00 PM
From: Steve Morytko  Read Replies (1) of 13953
 
Be sure to let us know when you find a better one.

>What's new??? I think I am closing my a/c soon. I am looking for a
>new broker. I just realized that this year which I really only traded
>for about 4-5 mnths out of this year. Etrade made over $1800 from me
>on commission alone. that doesn't even include the money they get
>from Kemper for the Money Market Fund and their MM for the order
>flow.....
>
> Ed

So, worst case you made 90 trades @ 19.95 a trade (assuming stock trades - don't know about option commissions). Sounds to me like you trade a LOT more than the average account holder. MAYBE you'll do better somewhere else but commissions shouldn't be your only consideration. You're probably smart enough to know that other brokers have their share of problems - some more than their fair share.

Perhaps you'll find out that you can't calculate the commissions you paid with another broker. E*Trade's online account management is the best I've seen and is quite valuable this time of year when I'm considering taking tax losses/gains.

You really can't begrudge E*Trade for making money (your commissions) at their business can you? And no one forced you to make your trades with E*Trade at their well-known commission price(s). Perhaps E*Trade isn't the right broker for someone who trades often but I (and a number of reviewers - Gomez) happen to think they bring the best value to the "average" investor.

Good luck in all your investments,

Steve
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