Wit Capital may go well go above more than $10 per share, as this article states. However, I stated my problems in trying to trade non-IPO shares last week. I would be extremely curious to know how many trades they are processing. Yes, they have grown exponentially in number of accounts. But, I would assume an overwhelming majority use Wit only for IPO's. If they do trade non-IPO shares, God help them.
To add to my incorrectly executed order, I have had a heck of a time trying to cancel my account. I started the process last Wednesday, May 26. As of today they still had not canceled it. They said they wouldn't accept an email cancellation, which was my original transmission. However, I didn't receive an email stating this until this past Tuesday. Fortunately, I sent a fax last Friday. Unfortunately, the email gave a different fax, although the original fax was sent to the member services # given on their web site. I tried to fax to the new number on Tuesday, but couldn't get through. I got through on Wednesday, but forgot to sign that message. They sent me an email today (Thursday, June 3), saying I didn't sign it, and gave me the number I originally faxed it to last Friday. That fax was signed!!! So, why didn't they close my account??? Hmmm, seems they are stalling. It better be closed tomorrow. I can't believe the incompetence exhibited by this company.
If anyone else has any horror tales from Wit, please let me know. Post to the thread, so everyone considering using Wit knows what they're getting into. I'm usually a nice person, but they have ticked me off enough that I would like to make sure everyone knows how they run this operation.
Crusader |
