To: Dan Clark who wrote (12629 ) 7/3/1999 7:46:00 PM From: Sir Francis Drake Respond to of 16892
Dan - basically, the charts are not great, and never have been, but I guess if you like and use QCharts, that is not much of a concern. The problems have been software stability, getting disconnected, occasional bad quotes. To be fair, the problems have diminished significantly, but still occur often enough that I would definitely not rely on them to be my sole daytrading broker. Understand, that all brokers evolve. I can say smth. that is true of a broker, and it will be true at *this* time, but the situation may change (for the better, or for the worse) at any moment - since you've been trading w/ Datek, you know that is true. Also, Cyber will soon upgrade their software. This is a mixed blessing. Sure, we all appreciate upgrades, because you must do that to keep ahead of the competition, but inevitably that is associated with a temporary (hopefully, very temporary) deterioration in service. That has been historically true for Cyber and every broker (including Datek). They inevitably work out the kinks. It is the same, really for all software - which is why I am never an early adopter (I held off on Win 98, until more of the bugs were worked out). I wait until the code has proven itself. Unfortunately, you don't have that choice w/ a broker, who implements the new version over the weekend and Monday you find yourself a guinea pig. So, I'm looking to the new CyberTrader with trepidation/hope. There are things they need to fix - better charts for sure, and somehow more reliable quotes (dream on!), but it is going to be rough - those are the times when you need another broker as an alternative. Order entry at CyberTrader is fine, ditto cancellations. Executions - Datek used to be better (particularly w/ ISLD orders), but Cyber is very competitive w/ all other DOE brokers I am aware of. Executions used to be Datek's shining point of pride - what has been happening recently is a real downer - it is my fervent hope that Datek somehow gets back on track. And Datek is still good when it comes to clearing accounting etc. No DOE broker has a clearing house that one can be happy about, (MBT's SouthWest is horrible), and Penson is certainly no great shakes, but as long as you are involved w/ a DOE broker, that's par for the course. I have no experience w/ CyberX, so I can't express myself there, but all in all, Cyber is not a bad outfit, and I would not discourage anyone who wants to sign up w/ them. Good luck! Morgan