As I've said, I have an account at Brown, and like them. They have the best margin rates I've ever seen. $5/trade is damn cheap, too.
But as I've also said, everyone should have multiple accounts. Let me suggest on-line broker Wit Capital <<http://www.witcapital.com/>> as a second account. They specialize in bringing IPOs to the masses, and they certainly succeeded today, allocating me 1,000 shares of EarthWeb at 14. With the stock at 50, I am pretty happy with them right now. Any customer of Wit could have asked for shares, on a first-come, first-serve basis. Democracy in IPOs, what a radical concept. :-)
They will be e-manager for the upcoming Prodigy IPO. I really think it is worth it to have an account with Wit, at least for IPO access (though I also do regular trading through them, in addition to Brown). Yes, they charge $10/trade more then Brown, but my profits on EarthWeb alone will more then pay for the higher commissions.
Dennis |
