J.I.,
OT: Can't P.M. since JI turned it off.
OT: Fidelity vs JackWhite
I have accounts with both Fidelity and Waterhouse. In my opinion, Fidelity is 1st rate, and I would rate Waterhouse a distant second. I only have one problem with Fidelity: on the day the stock split, I cannot trade the stock, called rep which said I cannot trade a stock that day - totally B.S. - I complained, and was refunded the difference.
Customer service at Fido is first rate too. I was never on hold more than a couple of minutes. It is a definite plus if you trade from oversea. I believe they have #'s to call from abroad, and 800 numbers for domestic customers.
That said, Fidelity cost you twice or more compared to Waterhouse, especially they recently hiked their fees. Fidelity's margin requirement is not as good as Waterhouse, and their on-line trading is very restrictive - You must call a broker if you want to enter a spread, for example. Fidelity online trading only allows you to trade stocks, and sell covered calls. Everything else requires talking to a live broker.
Since the fee hike, I have moved my accounts to Waterhouse, since I am not a trader and can tolerate the many problems that Waterhouse has.
Hope this helps,
//V |
