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Non-Tech : Web Street Securities (WEBS)
WEBS 22.16+5.5%Jan 30 4:00 PM EST
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To: Craig Bartels who wrote (914)1/20/1999 3:15:00 PM
From: B.D.Bauden  Read Replies (2) of 1339
 
Here's another Web Street horror story.

I placed a market order to sell 1000 shares of a stock when the bid was 6 3/16. There was a lot of activity with several thousand shares being traded at the ask which moved up from 7/32 to 1/4. The price then started to move down.

I kept waiting for notification of my fill, and waiting, and waiting.

Finally after 7 minutes I was informed the my order filled at 5 13/16!

I called and complained about the slow response. The broker said that he would wire US Clearing and have them check, but he felt that 7 minutes was not too long to wait for a market order to fill on an active stock.

Continued complaints have gone unheeded.

Thought people, especially potential new clients, should be aware of how much time it can take to fill a market order with Web Street.

Bruce
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