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Gold/Mining/Energy : Capital Alliance Group - CPT (CDNX) -- Ignore unavailable to you. Want to Upgrade?

To: gg cox who wrote (37)	3/16/2000 11:14:00 AM
From: keith massey	Respond to of 960

GG Thanks for the link. He was a little off on his share structure but had the right idea. An individual sent me this link. He thought it might be a direct competitor to SEG (IAAC on the NASDAQ). intltrader.com When I first looked at the page I was shocked because according to everything I have read and all the groups I have talked with there are no firms anywhere that currently offer the service that SEG is planning on offering. I read ever word on the webpage and it sure looked like they offered their clients the ability to trade in 30 different countries at a discount rate. I then called the company and there were a couple of catches that made my blood run cold. What this firm is offering is the ability to trade foreign stocks through US market makers during US business hours (8-5) only. So lets say you want to buy a stock in Hong Kong. You can only place the trade when the Hong Kong market is closed. At that point a US market maker will look at the closing price, trend and volume. He will then decide how much it is worth to him to sell you the stock and buy it himself the next day on the open market... keeping the spread for himself. You pay substantially more for the stock and can't even trade it until the market opens the next day. To make matters even worse (if that is possible), they don't even trade all stocks... only the ones that the market makers decide they want to trade. The double screw<g>. I would rather pay the huge commission through Merill Lynch than get dragged over the coals by the market making group. Even with this ridiculous model, IAAC hit $27 when this website was announced. Go figure???? I now understand that several other groups offer similar services to IAAC. In my opinion this is not foreign trading but instead it is a free pass for US market markets to steal from you. I will stick with SEG's approach. Best Regards KEITH