Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER! -- Ignore unavailable to you. Want to Upgrade?

To: pezz who wrote (305)	4/10/1998 8:05:00 AM
From: nab	Respond to of 2045

Well folks, I decided to give A.B. Watley a chance (even after reading all of the horror stories here) and still am not impressed. The rhetoric they shovel is/was S&P Comstock in a month (2-3 months ago) and no word yet, except that it's in the works and we should see it in a 'month or so'. It took them 5 days to get my account online after the funds hit and when it came online there was no email or telephone notification. I was checking several times a day and after 3-4 phone calls we realized that they used the wrong password (mother's maiden name instead of the supplied password on my application). Also, when the account was created someone "fat fingered" their keyboard and typed-in one account number for the domain and another for the brokerage account (what a mess). They claim (in irby's email from the president) that all their problems are because of vendors and others they contract with, but that their "core systems" are rock solid and they're willing to stand behind them. Yes! They better do that, because all of my problems are with the "Orders" system. And from what I can see it "IS" the only Core system they have. It's up and down all of the time, especially on market open and market close when things are moving the most and fastest. The support folks keep saying that it is just slow to query the database, but I know better because it can't be pinged or tracert'd and that means it is not there (offline and probably being re-booted!). What a crock... I asked them about redundancy, fault tolerance and even hot spares. Not one person had a clue to what I was talking about. They did say that they have a new orders system that is being worked on and this will fix the problem. It should come online "in about a month". Sure! Anyway, the bottom line is that so-far I'm not impressed with their operation. NB (still designs "Mission Critical" systems for MCI, DEC, NASA, ...) cALL FOR A QUOTE!

To: pezz who wrote (305)	4/10/1998 11:49:00 AM
From: jocko	Read Replies (4) \| Respond to of 2045

I am sorry but I respectively disagree. This thread has promoted Watley for a long time especiall by Irby. Reading other threads such as Datek, Suretrade etc, you can see there are real problems. But Watley has been hyped as the savior. I have been using Dreyfus with stock edge and it has been excellent. Executions are in seconds, they answer the phone fairly quickly, and the real time streaming quotes for free with 5 trades a month. Level II is $50.00 per month. I am not involved with them other than as a trader.

To: pezz who wrote (305)	4/10/1998 12:38:00 PM
From: Shizzie	Read Replies (1) \| Respond to of 2045

The problems I've had with watley have been with connectivity and record keeping. These problems are not "relatively minor". I can't connect to their servers. When I can connect, my portfolio is reported improperly. When I can trade what I have in my portfolio, I gets overcharged on commissions. When I ask about these problems, their customer service reps blame PC Quote or the internet. I've been promised that the service would be seamless "very soon" and "in a couple of weeks when we upgrade or change our so and so". I've been a client for 6 months and haven't really seen any improvement in service. Every broker I've ever had has had problems. None have ever been as fundamental. It is very very difficult to trade with this firm.