Dear Francis Drake:
I agree with your comments posted today.
I have recently closed my account with cyberbroker and now receive direct data stream from my clearing house and have to tell you that cyberbroker's problems are not limited to the ones you listed. Compare your index prices from cyberbroker with other sources or call a broker who has direct connection to the floor and compare the numbers. Cyberbroker's index prices are not up-dated constantly, and hence you don't see every tick. From what I observed, I believe that cyberbroker's index prices are up-dated every 27 to 30 seconds.
I also urge you and other readers to read my comments that I posted on this thread earlier this month, dealing with technical problems with cybertrader on the days that the volume is heavy or the market is active in the early hours, like today.
Speaking of commissions, make sure you double check your commissions with your own daily trading records, in that two out of three times, they charge you full commission for those trades that dont get filled by one party on the other side, and it is broken up into two or three trades, or when you end up re-entering an order for the left overs.
Lastly, speaking of Mr. Berber's comments and the on-going campaign and advertising that cyberbroker and the program they offer is suited for daytrading, and not E-Trade or other brokers, I have some very serious comments and issues that I will be addressing very soon on a new thread. Stay Tuned |
