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Non-Tech : Always Looking for Cheap Internet Brokers -- Ignore unavailable to you. Want to Upgrade?

To: Purpleman who wrote (37)	11/16/1997 11:14:00 AM
From: johnny weissman	Respond to of 602

Thanks for the web address. The info was thoro. I have used Etrade, NDB, Regal, and Datek. Datek is best for cheap, fast trading. Regal (by phone) is best for customer service. The posts here (what I've read) don't mention the probably most important aspect of cheap webtrading, which is their appeal to short-term and daytraders. For this purpose, the most important feature(s) may be, besides trade-price, the "tools" necessary to do short-term trading: News, news, and, lastly, news. Jacking up the price for limit orders, as Ameritrade does, and which are absolutely necessary for most short-term trades, is absurd. Their tv ad ("buy CocaCola,etc for 8$") is also absurd. By "news" I also mean realtime quotes (the most basic form of "news", plus any auxilliary info that comes with a quote. I noticed that Suretrade offers the share size of the latest Bid/Ask, an addition to Datek's quote info. But daytraders may need more than 100 quotes per trade, as Suretrade offers--and Datek gives unlimited quotes. Suretrade, however, offeres Reuters news, and I assume it is realtime. If it isn't, then it's no better than what Datek or Etrade or Yahoo, for that matter, offer : delayed news. The twenty minute delay often means the only points gained, especially on cheap stocks--a favorite of customers of cheap brokers ... Other services, IRA, etc, should be considered irrelevant when selecting a cheap broker. Go elsewhere. No one broker will cover all bases, and almost all will raise prices once they have your account. They will move as in a herd to raise prices once the online trading frenzy is flatter. The next step for me is to find (wait for) a broker who offers Nasdaq level ll info, for free. This may be unlikely, as Nasd has a "monopoly" on their quote info (as does NYSE, AMEX). Since quotes are all anyone really buys, any quote info offered by a cheap borker would be the most advantageous place to trade--since you would be taking money from neophytes who seem to think it really matters if they save ten dollars on a buy and hold trade. Again, despite its problems (they all have them), Datek has my vote. They were the first fast, cheap broker. They have a flat rate for any type of order. For penny stocks (advice: don't buy them!!!) go elsewhere....

To: Purpleman who wrote (37)	11/16/1997 4:23:00 PM
From: Bill Hampton	Respond to of 602

After doing a quick review of the site on Glen's message (reply 37) looks like Trade-Well is about as good as any. Their commission schedule shows $22.00 per trade electronically and $27.00 for broker assisted trades. They also show unlimited day trades for same stock at $44.00 & $54.00. Does anyone have any experience with them? You can review their site at www.trade-well.com. Any info or recommendations on Trade-Well welcome. Just wish FarSight would wake up since so many of us on the SI threads have recently moved our accounts to them. Thanks, Bill

To: Purpleman who wrote (37)	11/16/1997 6:34:00 PM
From: Diana	Read Replies (1) \| Respond to of 602

Thanks for the site, Glen. Has anyone had any experience with ForbesNet? I like their $9.95 unlimited trades (Glen's site was not updated to the new pricing on ForbesNet web site) and free IRA accounts for +$10,000. I don't trade BB stocks but want prompt confirmations and portfolio updates. I like the FarSight customer service and don't want to settle for less. I really liked some of ForbesNet's comments: We have a team of professionals committed to serving your investment needs. We will provide you with the level of service that you should demand of your broker, but all too often don't find when you work with deep discount brokers. We will execute your transactions both quickly and accurately. And we are set up so that no matter how busy the market gets, you get to talk with your broker or access your account electronically. You won't have to go though some touch-tone maze, or be put on hold listening to elevator music. . . . . . . . . At R.J. Forbes, we carefully control the growth of our firm. Providing expedient, quality service is paramount. Our staff, telephone and data processing needs are monitored constantly. This insures superior and consistent service. Your business is important to us and you are entitled to the best possible services available. Saving you money is only part of our commitment and although our rates may attract you to R.J. Forbes, we believe our execution and service will keep you as a client. What a great concept! I'm going to call them tomorrow.