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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: JJMM who wrote (13663)11/19/1998 4:44:00 PM
From: Mr Grey  Read Replies (2) of 119973
 
NDB - National Discount Brokers does offer stop and stop limit on Nasdaq stocks. But I would stay away from them if you day trade a lot. They use Sherwood Securities as their main market maker and Sherwood likes to cheat their own customers. I speak only from my own personal experience.

I placed limit orders on MALL today and they executed it in under 1 minute. I placed a Market order on MALL and Sherwood took over 5 minutes to confirm. I disputed the order and got a better price, but I end up disputing orders because of Sherwood almost every week.

Sherwood response to NDB was. We are allowed a 3 minute window on Markets orders. In other words Sherwood Securities uses their customers.

Also NDB claims that they have something called price appreciation on Nasdaq stocks. This means that you may get lucky and get a better price then what you wanted. I have made over 300 Nasdaq trades and I have been with NDB for 4 yrs and never have I gotten any price improvement in fact I have many times gotten less then what I should have because of Sherwood.

NDB is a great company and their customer service is fantastic but because they use Sherwood I would stay away from them.

I'm going to try Datek, unless someone knows if Etrade has faster executions then Datek?
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