DATEK- COME LOSE YOUR MONEY Message Board

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Non-Tech : DATEK- COME LOSE YOUR MONEY

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To: GR who wrote (4)	11/7/1998 5:00:00 PM
From: Raj Ramaswamy	Read Replies (2) of 38

I agree with you all...DATEK is dead when we need it most.."market open" and "market Close"...One could loose a whole shirt just waiting to get the order executed... However I like one thing about DATEK..don't get me wrong..I am not fan of Datek..it sucks.. THEY GIVE YOU THE SELL MONEY AS SOON AS YOU SELL..THE BALANCES ARE UPDATED REAL TIME AND YOU CAN USE IT IMMEDIATELY...UNLIKE OTHER BROKERAGES, WHERE YOU ARE ALLOWED TO BUY ONLY UPTO WHAT "FUNDS AVAILABLE" SAYS EVERY DAY MORNING... THIS IMMEDIATE ACCESS TO YOUR FUNDS BY DATEK HAS MADE IT "DARLING" OF ALL DAY TRADERS....AND WHEN THE CROWD RUSHES AT MARKET (OPEN OR CLOSE), EVEN 20 SERVERS CAN'T HANDLE SUCH A HUGE SPIKE IN ACTIVITY. For its worth, I have tried Suretrade...geez..you don't get your sell money until after 3 $#@&! business days....however their market open or close is very fast...many of my market open trades have been executed at seconds after 9.30 AM..! Would love to hear which brokerage is best...fast trades especially at market open/close, low commissions etc... Raj

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