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Non-Tech : Anthony@Pacific on getting ripped off and what to do..
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To: J.S. who wrote (35)4/16/1999 11:42:00 AM
From: Jonny White  Read Replies (1) of 42
 
Joe, your frustrations are felt by many. The problem is that when you send an order you're basically sending them an e-mail, hence slow confirmations, cancels, and executions. You might want to look into a broker that offers a direct access execution platform. Direct access in effect cuts out the "middle man" and plugs you directly into the market so you're dealing with market makers, specialists, and ECNs directly. It's super fast.

For future reference if this ever happens to you again you might ask your broker if they receive payment for order flow. If your broker is sending your orders outside of their firm to other market makers it could result in slippage and difficulty with cancellations and executions. Also, if two people at the same firm are telling you two different stories about an order or execution, get a manager involved. You have rights as an investor.

Hope this is helpful,

Jonny White
Product Manager
CyBerCorp
cybercorp.com

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