Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : The Discount Broker's Hall of Shame -- Ignore unavailable to you. Want to Upgrade?

To: Mr.Manners who wrote (555)	12/8/1999 2:51:00 PM
From: Sam Citron	Read Replies (1) \| Respond to of 594

Numerous problems with American Express brokerage: (1) Untimely reporting of executions online. I waited over two hours before the fill was confirmed. You can get the execution over the phone if you are patient enough to hold the phone for a very long time. (2) Each time you initiate a telephone conversation you are asked for your social security number, instead of some other password. It is not a comfortable feeling giving out a social security number on the phone to a complete stranger. Numerous consumer and privacy advocacy groups have warned of the dangers of doing so. (3) When you open an account you are automatically giving Am Express permission to use the detailed financial info they collect from you for marketing purposes unless you: (a) happen to notice the opt out instructions located in tiny type in the middle of a long paragraph of legalese; and (b) bother to take the time to place a telephone call to exercise your right to opt out (which then leaves you without recourse if there is a glitch since there is no written record of your communication) This kind of opt out policy is a flagrant abuse of most norms on the net today concerning privacy. Today's norms, endorsed by TrustE and others (1) strongly favor opt in rather than opt out before your information can be used for marketing purposes; (2) require that any notification regarding such policies are posted CONSPICUOUSLY. American Express' privacy policies are a contradiction of these norms of civilized online behavior. Any comments?

To: Mr.Manners who wrote (555)	12/8/1999 6:31:00 PM
From: Alan Smithee	Read Replies (1) \| Respond to of 594

I think I figured out your problem. Your broker at Scotia died while you were on hold. They had to send away to Newfoundland to locate a replacement.

To: Mr.Manners who wrote (555)	12/8/1999 6:36:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 594

I hear what you are saying there. SOunds like when I had a DLJ account that I used. (Still have one but only for emergency back-up) That is one thing I will give my local Waterhaouse. They are usually quick onthe phone. As an update though from my last post, their options quotes have gotten worse if that is possible rather than better. I tried to use them again yesterday and the quote was at LEAST 2 days old. UNbelievable. Hope you find a better broker. I hear Yamner is excellent but you pay for the good service. I am still too small time to pay the extra since I trade a lot but someday, I will move to more expensive yet better service. Good Luck, Lee