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

To: B.K. Ohneis who wrote (7274)	3/8/1998 6:29:00 PM
From: George McMeen	Read Replies (1) \| Respond to of 16892

DATEK on Margin Interest (I also wondered - not on website) > but i found no explanation in the statements i have received. the > margin interest is billed as "Margin, $***", no explanation > whatsoever. Friday I spent 30 min searching* for the amount Datek charges for interest on margin. Came up empty - except for the "broker comparison" chart where 7.00% is listed opposed to the other brokers in the 9% neighborhood. Someone posted 2 weeks ago or so. . . that Datek charged 7.00% but that it was compounded _daily_ which if reported as monthly rate would be X.XX% (need my calculator). Brown & Co is charging 7.25% compounded monthly (with lower rates for persons who borrow $$$.) Another issue I found somewhat confusing was the cost (or no cost) of sending/receiving wires to/from Datek. Cheers. George