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

To: LPasko who wrote (6811)2/14/1998 11:21:00 PM
From: Peter H. Hodge  Read Replies (1) | Respond to of 16892
 
You are charged margin interest only if you use the margin and hold shares overnight. Trade just your principal and incur no margin interest. Re your second point...how is Datek any different from any other broker. They all charge margin interest (if used) on top of the commission charges.



To: LPasko who wrote (6811)2/16/1998 11:39:00 AM
From: Jon Tara  Read Replies (2) | Respond to of 16892
 
Huh? You aren't charged margin interest unless you use margin. If you put $100,000 in your account, and buy $100,000 in stocks, you are not charged any margin interest. If you buy $100,001 in stocks, you are charged margin interest on $1.


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