SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Datek Brokerage $9.95 a trade
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: RickZ who wrote (10701)1/5/1999 8:58:00 PM
From: Esteban  Read Replies (2) of 16892
 
Here's my question: Have the majority of the problems been with execution speed and mainly in regard to daytrading?

Depends on when and what you trade. The first 30 minutes of the day have been a crap shoot at Datek for a long time, with no discrimination for the type of trader you are. I've read few complaints lately, but most traders have a wait and see attitude about whether Datek has actually done anything, or whether the server load is just less due to holidays and daytraders leaving out of frustration. If the servers aren't completely down, which is rare, you can trade listed stocks without a problem during this early crunch time. Many of the problems are on Nasdaq stocks making dramatic moves that day, with volume far exceeding their normal range. Others are with market orders on Nasdaq. The order goes into limbo and can't be cancelled and isn't executed until you wish you had never placed it. So if you don't use a market order and don't need to trade high flying Nasdaq stocks during the first 30 minutes, Datek may work out just fine for you.

BTW, Datek does work for you on listed orders that should have filled, but didn't. Since NYSE honors time priority, Datek can get an execution on your order after the fact if you were clearly due one. With Nasdaq Datek bites the bullet, and they pass that bullet on to you, as do many brokers.

Esteban
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News