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Non-Tech : Web Street Securities (WEBS) -- Ignore unavailable to you. Want to Upgrade?

To: Fred Puppet who wrote (189)1/9/1998 3:10:00 PM
From: Mama Bear  Read Replies (1) | Respond to of 1339
 
Fred, if the initial maintence requirments are 50%, and I use it all to short a stock, there won't be anything left in my money market account anyway, so where does the 5/share come from? The rep I spoke with on the phone said they don't do this. Perhaps your impression is because it was a low dollar stock and the margin requirements are higher? I'll be mostly using all the buying power in the account and closing my positions by the end of the day anyway.

I will keep an eye on my balances. I'll report anything amiss here.

Barb



To: Fred Puppet who wrote (189)1/9/1998 5:44:00 PM
From: Esteban  Respond to of 1339
 
Fred,

Sorry to read about the experience you posted on the Datek thread about your marketable order not filling, and Datek taking no responsibility for it. As you know, I've been there with them. This happened to me at Web Street when I first began trading. Within 30 minutes after I called them they had adjusted my account to reflect the price of my order at the time it was marketable. Somebody ate it on that one, but thanks to Web Street, it wasn't me.

Esteban


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