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


To: Mama Bear who wrote (9762)9/23/1998 3:19:00 PM
From: Rubber Man  Read Replies (1) | Respond to of 16892
 
I've been in your position several times and so far have never been charged two commissions. I thought way back when this question was posed and the answer was that only one commission would be charged.

If you want to try to beat Datek at their own game, try entering an order (for a relatively slow moving stock) of a 1000+1 shares, then after confirmation of the order quickly go to the open order screen (where you should see your 1001 shares open order). As soon as you know you got executed (check Island), try checking the box for cancelling your 1001 order- it'll return with the message that cancellation cannot go through. Right after you should see the 1000 shares in your portfolio and a cancellation notice for the 1 share. The 1 share would be considered the main order, and since it wasn't executed no commission would be charged on the "partial" order of 1000 shares.

This happened to me once (never tried duplicating the glitch), but I felt like confessing after watching Evil Deeds week on A&E. :)



To: Mama Bear who wrote (9762)9/23/1998 5:16:00 PM
From: Len  Read Replies (1) | Respond to of 16892
 
Sorry, Barb, I should have read back from your post. No, I always get charged twice. I read your post and thought the problem was an old one that I had to duke it out with them about.

This was where they wouldn't accept the combined trade unless the buying power was sufficient to cover the whole trade, BEFORE the proceeds from the first part, came into the account. In those cases, you had to do one order, let the account update, then enter the second. Needless to say, you blew any chance for a quick turnaround.

They accept my combined ones as they do yours, with one tracking number, and two commissions.

Sorry for the confusion. My bad...

Len