E.Schwab problems Message Board

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Non-Tech : E.Schwab problems

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To: HG who wrote (474)	3/28/1999 3:20:00 PM
From: caly	Read Replies (1) of 1401

I'm a satisfied Schwab customer. The only trade executions/confirmations that are slow for me are OTC ones. I've never had any problems with ones on the big boards. I did correspond with one poster though, that had a very slow execution on a market order he had put in on a fast-moving stock. By the time they executed the order, the stock had moved something like 8 points already. He called them and raised a stink, and they adjusted the purchase price to be more in keeping with the price at the time the order was put in. No litigation necessary. The biggest OTC problem I had with them was when I put limit sells in on a stock that I knew was going to gap-up and run the next day. The orders (two of them in different accounts) never executed even though the bid actually went well beyond the limit sell. I called and they immediately researched and executed the orders at my limit sell price later in the afternoon even after the stock had settled back down. That's really my only concern with them...limit sells on OTC stocks aren't reliable, but they will apparently correct the situation if a problem results.

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