To: Cali who wrote (698 ) 3/11/1998 10:35:00 PM From: IngotWeTrust Respond to of 915
Hi, Cali. On other online svcs, Prodigy in particular, eTrade has received some well thought out, seemingly well deserved BLASTS from very VERY unhappy customers and now former customers. I usta do biz with J.B. Oxford...that is until I read the Business Wk expose' on their company and questionable "principal" and his lousy track record with previous brokerage firms he was a principal w/. Closed that account properly. Trading's hard enough, without a scuzzy self-service principal in the mgmt mix. I considered Datek, until I heard they basically could be summed up as a bunch of generation X'ers who are SOES bandits and liked doing the online trading thing w/the public so that they could use the order flow to bet against you, the customer. This was from someone who went to visit their set-up in person and came away with his 50K and a very bad taste in his mouth. I decided I didn't need to do biz w/someone who had set up online trading just to bet against me. I never heard anything nice about PCFN, online arm of Donaldson Lufkin Jenerette, and also associated w/Prodigy. That left me Waterhouse and Trading Direct. I picked Trading Direct because it is the online arm of a very large and major reputable brokerage firm, York Securities. Started with a small amount, to get out the wrinkles. It's been 10 weeks now. $9.95 per up to 5K shares. Trading Direct and Waterhouse may bet against me, but I don't think that is the sole reason they offer online trading through their trading room. Am also thinking of adding Waterhouse as well, since I understand they can clear Canadian stocks. Waterhouse also lets us US citizens short Canadian stocks, as a registered clearing broker dealer, a rarity in the US frankly. These are my understandings of the scuttlebutt and you're welcome to chose whatever works for you.