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


To: Alexander Pavlov who wrote (10449)11/26/1998 8:54:00 AM
From: Howard Glynn  Read Replies (2) | Respond to of 16892
 
Datek Experience and a question on notary publics...

First time poster on SI today :-) Some comments and a question...

Contrary to most of the responses on this board, I have had good dealings with Datek. I'm in an unusual position in that I trade shares
from the UK, and online trading generally is a revelation compared to
the archaic system in UK. Even though I'm trading 5000 miles away,
over a 56K modem, usally with streamer and other stuff open, I get
confirmations/page reloads in 4-5 seconds. I only ever trade between
about 12:30pm and the Close, when I get home from work, so maybe that
makes a difference. I'm making 10-12 trades in that time, and making
money out of what is effectively a hobby, so I'm happy :-) Maybe
move up to Level II middle of next year, but daytrading using a
discount broker I have found is a great way to 'learn the game'.
I'm happy to trade with limit orders all the time, I never use
market.

Here's my question... I originally opened a joint account with my
Dad (Community type) but now we have two individual accounts. We want to transfer all the stock from the community to one of the individual
a/c's. Datek are saying they want a 'notarized' account transfer
form since the names differ. Customer support, to their credit,
have replied a couple of times to my question but I am still unclear
what this is due to lack of understanding of US formalities. You need
a raised seal from an attorney? Here's the problem - we are both in
the UK, do you think a UK notarized form would be acceptable and meet
Dateks regulatory requirements? If not, how can we get a notarized
form from a notary public in the US if we are not present (I do go
on business to the US a lot so I can get to an NP, just not both
of us at the one time...) - thanks for any advice..

- Howard
- Sunny Scotland