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Non-Tech : Web Street Securities (WEBS) -- Ignore unavailable to you. Want to Upgrade?

To: Jon who wrote (401)	6/2/1998 7:14:00 PM
From: Noor	Respond to of 1339

Sounds good I hope you deliver it on June 15.

To: Jon who wrote (401)	6/2/1998 8:16:00 PM
From: Jetta	Respond to of 1339

this is all fine It still doesn't change the great number of problems I experienced having to correct commissions and having to call two or three times to get some of those corrected. I am not a habitual complainer and found your site interesting but I can tell you I had enough problems to pull ALL my money out of my account with no intention of returning. It generally takes a terrible product or service to cause me to do that.

To: Jon who wrote (401)	6/2/1998 8:26:00 PM
From: B.D.Bauden	Respond to of 1339

"On June 15 our new single-click trading page will be launched. This page will allow you to trade directly off of your watchlists, without having to enter symbols or be beholdent to any browser. This system will without a doubt provide the simplest entry and best execution of fills in the industry. It will include time and sales, level two information that opens up in a seperate window and no need for re-entering passwords for trading verifications." Mr Rosenberg, The most serious problem being faced by your customers at this time is the continuous lock-ups caused by your dynamic quote system and the the frequent shut down of your web site. Are these problems addressed by your new trading page? Will we be able to trade stocks not on the watch lists? Will we be able to add and delete symbols from existing lists quickly without having to create new lists? Bruce

To: Jon who wrote (401)	6/2/1998 8:58:00 PM
From: wlcnyc	Respond to of 1339

Jon, In your last post, which was on April 27 (see below) you stated that you would get back in a couple of days with more answers. I assume this is what you meant by a couple of days. Message 4226665 Of course, back then you also mentioned/promised that there would be improvements. I have not noticed improvements in the last month. I will admit that you did "discourage" penny stock traders at that time too. But in a response to your prior message, I noted that the problem with slow executions exists with listed stocks stocks as well. More than anything what really bugs the hell out of me are the good reviews that Web Street gets for what they "offer." Unfortunately, it is not what they deliver! Case in point - the recent article in Forbes concerning the "everything on one screen" - the Trading Pit - which is a nice "concept" but the reality is that it is difficult to see the whole of anything. That aside, the "balance" screen in the Trading Pit doesn't match the "other" balance screen and frequently neither one is correct. The system only takes fractions, but there are screens that only display decimals, then only to two places i.e., the positions screen! There are many other bugs and inconsistency in the system that I have reported that never seem to get fixed. Have you or the Fox brothers ever actually USED the Web Street system ..or do you also just assume and believe that what is offered is what is delivered? As an example, go to an open order and click on it to review it and you will see at the bottom of the screen two "buttons" one to replace the order and the other to cancel it. Neither one of them work from this screen...clicking on them takes you to a screen of "code" options that take you to never never land. It's almost like the system was "designed" by several different tech people who each did their own thing and then put it all together so that going from one screen to another is like crossing the border between two countries with that don't speak the same language! I reported the problem with the cancel/replace buttons in February and was told that it had been reported by other customers too, and would be fixed. It's still there. I frequently get "Invalid Brokerage Account" when I go to the Trading Pit. This seems to be because another account number associcated with mine. This was reported, but never fixed. I could go on, but won't bore you and I am sure the others on this thread already know most of the problems that are NOT being addressed. Here's hoping that your new system is USER tested BEFORE you bring it up and offer even more new, improved and wonderful features that do not work. Good Luck Bill p.s. I never got a response to my question to both you and Mike Graf concerning whether or not you sell your order flow to a single MM.

To: Jon who wrote (401)	6/2/1998 11:07:00 PM
From: SC Anderson	Respond to of 1339

A post to Jon/Web Street Securities <These penny trading situations do not allow us to provide our 6-10 second executions on most marketable orders and pop-up confirmations that we can on NASDAQ, listed and options exchanges.> No problem with market orders. The problem is limit orders. I'll say it again, limit orders. Your MM doesn't represent the BB limit orders. Lately, the only way to buy or sell a BB with you is at market, and I've finally figured out how much that is costing me. I'd rather pay twice your commissions to make a decent trade. Also, with Level II I don't care about 6-10 sec confirmations, I can see what's happening (or not happening actually). <If you want to trade penny stocks, then it is highly recommended that you call our live brokers at 1-800-web-trade. Doing so will limit any of the above situations that you may have experienced.> Not true - that doesn't do it. Been there, done that. Where do your brokers send my orders? The problem is that NASH, WEIS does not represent the orders. And you can pass this on to them, I'm waiting to document them misrepresenting one of my orders again. Then it's off to NASD. The bottom line is you guys haven't been good for BBs. So be it. I've been hanging on in hopes the new system would offer a more favorable situation in that regard. Sounds like that will not be the case. Your people are great, your Level II is unique and worth every penny - even worth keeping a portion of my portfolio with you - but all the BB's will be transferred out. I'll say this, you were better than SureTrade. Steve

To: Jon who wrote (401)	6/3/1998 10:35:00 AM
From: WallStBum	Read Replies (1) \| Respond to of 1339

Jon- The suits and ties thing was a bit of a jab, I'll admit that, but my point was the Forbes article if you read it again, as someone else pointed out, made more of what you OFFER than any real experiences. Their only support was a Barron's recommendation. I don't really care if you guys just expanded your suburban Chicago offices and got nice oak furniture as that means absolutely nothing to all of us out here. I do however care about execution and representation of my order to the MM's. Joe Fox's comment about the confirmation printers printing being the sound of the "cash register ringing" struck me as rather flippant and misdirected. Anyway, I appreciated your candor regarding penny stocks and BB stocks. I am certainly sympathetic to the difficulties you must experience. You probably know that Datek does NOT trade BB stocks and repeatedly states publically that they never will. If you do wish to improve in this area, I would look to ETrade. They do a marvelous job with BB execution and in pinches, they have repeatedly called down to the MM's on my behalf to put the heat on and force the MM's to make good. Dax Stoner (account holder with Web St, ETrade, Datek, Suretrade and RJ Steichen)