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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: THOMAS GOODRICH who wrote (4927)	2/5/1999 5:44:00 PM
From: Bruce Kuhn	Respond to of 13953

I am so tired of hearing that ALL on-line brokers are having these problems. I will agree that they all have had glitches throughout the years, but not like what Etrade is going through. I have heard several people on this thread reference the fact that Schwab has had problems with their servers. I have been trading with Schwab heavily for over 3 years. I tried to trade on a day that their server was down a while back. When the Schwab web server went down, the telebroker system was still working. I have not experienced a time when the server AND telebroker were down with Schwab. The phone response to get a broker on-line has always been fast when ever they had a server problem (which has not been often in the time I have been with Schwab). And, they even have another back-up of calling a local branch office. On any given day that Schwab has had problems, I have always been able to make my trade in less than 5 minutes, not hours or never like with Etrade. And, they make sure that they still give me the web rate even though the order was placed on the phone. That should just about cover the access to trade with Schwab. The other issue that I and many others have talked about on this thread is execution. I do not expect every on-line broker to execute a market order in seconds on busy days. I have had it take minutes with Schwab. But, it has NEVER taken 20 minutes as it has with Etrade. I have also NEVER had a time when a sell has executed for several dollars below the bid and ask like I have with ETrade. In the past month I have had 2 trades sell at several dollars BELOW what the stock trading range was for the entire day. One of these trades was a market order to sell when the stock was trading at $9.60. The order executed at $6.50, and the trading range for the stock that day was between $9.25 and $9.87. These kinds of problems are not common with all on-line brokers. I agree that all have had problems in the past, but not like this!! The problems that have recently occurred with E*trade are much more severe, and their customer support has handled them very poorly. Bruce

To: THOMAS GOODRICH who wrote (4927)	2/5/1999 7:28:00 PM
From: Marty Rubin	Respond to of 13953

made only one trade today but saw order pass through with a splash. (one second probably. saw it on the ticker. didn't even bother to check messages since i can prove i put the market order and will have a claim) the system is the problem. as long as you put your market order and know where it should be (price) you have a claim. you have to access the system for that. why didn't they have a backup??? WHY? are we some kind of an experiment group?