I trade through Datek as well as Cyber.
To be honest, I love Datek. I love the executions, the instant portfolio updates, their margin policy. But I also hate some things about Datek. Their freakin' busy servers. The fact that I've lost money on many occasions because I can't get a confirmation page to pop up for 3 minutes.
I use Cyber's LII and trade through Datek - good combo. On the occassions when Datek just shuts down due to overloaded servers - you must have an alternative broker. I do not believe you can successfully daytrade with Datek as your only broker - though for position trades, they are second to none (IMHO).
I often hear people speculate that Datek trades their own account, and even front runs orders. I HAVE had some weird things happen to my orders on occassion, (and I have LII and ISLD book to look at), but in the end, I don't believe there is anything nefarious going on - there are many inexplicable things that happen in the market, and I see no reason to blame Datek without absolute proof. On balance, I am a happy customer, though I sure do understand their limitations. |
