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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (21413)	7/25/2001 9:24:06 AM
From: Steve Lee	Read Replies (1) \| Respond to of 30051

"Maybe it's time for a new broker?" I think you are right. The broker is Schwab and I think they deserve some bad publicity. I get up to 5 minute delays on being filled for market orders on large cap liquid stocks. If I place a trade but dont confirm, and then place a second but dont confirm, then confirm the second, the first trade gets executed. This is appalling and I have sent screenshots and detailed descriptions of this software error but have had no explanation and the problem has continued. I get fills above or below prices that real time quotes show - to my disadvantage. They promise to look into it but never get abck to me. I place limit orders and find the price goes past my limit but I don't even get a partial fill. They promise to look into it but never get back to me. I get ATMs declining the visa card despite oodles of cash in the account. I am always told it is a one off computer error but it happens every time and can only be sorted with a phone call to the San Francisco dept that is only open during Pacific office hours. If I place an order then change the order, sometimes the original and the changed order are both showing as open. I have never suffered a double fill from this but this has always been due to me cancelling one of them before the limit is reached. Someimes if I short a stock then cover, I end up with the stock short in the margin account and long in the cash account. This then means further orders get rejected due to lack of buying power. Any other foul ups you can think of have probably happened. I don't mind mistakes but their attitude to sorting them out is a disgrace. They have cost me money and never made amends, they never provide explanations, and they generally don't fix the underlying software probs. Frequently I am in a country with no Schwab office that can service my account so I have to make an international call, and frequently I am cut off while on hold. I have been on hold numerous times for periods longer than my mobile phone battery will last. My battery lasts about 90 mins. etc, moan, moan. I feel better now.