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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: thecupwinner who wrote (6732)	2/9/1998 6:53:00 PM
From: Spots	Read Replies (1) \| Respond to of 16892

Thread, fresh meat.

To: thecupwinner who wrote (6732)	2/10/1998 11:00:00 AM
From: David Kuspa	Respond to of 16892

Mr. Richter, welcome to our Silicon Investor thread. Your enthusiasm and desire to solicit our feedback are much appreciated. You can review the posts since debuting your new pages, but it is clear that one desire stands out from all the details, and that is to keep Datek as fast and simple as possible for those that daytrade or who use other resources for news, charts, etc. I would like to continue to choose between a lean and mean interface or one with the pretty graphics and bells & whistles. In fact, I would go one step further and make the "classic" interface even more lean (eliminate some of the buttons and definitely the large memory hungry Datek graphic). The traffic on the classic servers vs that on the new servers will be a clear indication of how you should allocate your capacity. D. Kuspa

To: thecupwinner who wrote (6732)	2/10/1998 12:46:00 PM
From: Michael Coley	Read Replies (2) \| Respond to of 16892

RE: Kudos to Datek. I don't follow this thread any more, but I wanted to drop in and give some Kudos to Datek. I placed a MARKET order about 5 minutes ago (something that I NEVER did when I used Datek's competition). I normally get confirmation in 5-10 seconds and an executed trade in 30-40 seconds, well under the one minute guarantee. This time was an exception. It took 2 minutes, 14 seconds to get my execution. I was changed no commission on the trade. And get this... (This is the best part!) My buy order went through AT THE BID! Once again, that's something that NEVER happened when I used Datek's competition. Kudos to Datek! - Michael Coley - wwol.com

To: thecupwinner who wrote (6732)	2/10/1998 4:03:00 PM
From: smith	Read Replies (2) \| Respond to of 16892

To Datek, I ordered to buy 30,000 shares of some stock (very cheap stock). I had to enter 6 times, 5000 shares each time. I think Datek could add one or two sentences to the order interface program to do this for the consumers. Many thanks!

To: thecupwinner who wrote (6732)	2/10/1998 11:34:00 PM
From: Snowy	Respond to of 16892

Welcome to Datek. I would to like to comment that Datek 's cash disbursement has improved from last fall. I was pleasantly surprised to see a check in my mailbox three days after I requested it. Last fall, it took Datek over two weeks before I received a check . Datek's backoffice is getting better. Thanks.

To: thecupwinner who wrote (6732)	2/11/1998 4:38:00 PM
From: Jim Gan	Read Replies (2) \| Respond to of 16892

I have used both Datek and E*trade for some time now. Generally, they both execute orders fine. However, regarding customer service, there is not much good thing one can say Datek. I have had a problem regarding one of my short sales, I called them 6 times, sent them 3 emails. There was one response after I sent them a written letter threatening to take them to small claim house. People in the customer service department I spoke with includes William, Lee, Gina, and Brian(Gina and Brian are supervisors). Each time they promised to look at the issue and give me a response. Both Gina and Brian promised deadline, they never bother to keep their word! One strange thing (at least it seems to me) is when you short sale a stock, the proceeds from the short sale does NOT earn interest! Yet you are still liable for any dividend during the period you hold the short position. Datek's support guy keeps bragging about I do not have to pay 7% interest for short sale. I almost couldn't keep laughing. When I place a short order, I generate cash, not spend cash! I am not sure if it is legal for a broker not to pay interest on short sale proceeds. Anyone has idea? You can see, when Datek adopts this policy, they gain full 7% interest from marginers when there are both marginers and short sellers to offset each other. I am sure there are many marginers and short sellers for Datek to offset each other. To be fair, their margin interest rate of 7% is pretty good.