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 : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (229)	2/8/1999 6:00:00 PM
From: mod	Read Replies (2) \| Respond to of 16809

Mohan, <<1.How reliable are these folks?>> Probably as reliable as most on-line brokers. They clear thru US Clearing, a division of Fleet Bank. <<2.What are the chances of getting in on an IPO?>> If they are a co-manager, you have a reasonable chance if you are one of the first 500 or so orders, IMHO. To be one of the first 500, you need to enter your order within a few hours of the time it is posted. If they are not co-manager, sometimes they get some shares, sometimes they get zero. As they get bigger, they should land more co-manager roles, which will mean more IPO shares for their customers. <<3.How is there service?>> Web service, except for one glitch a month ago, has been ok. Phones were overloaded, but seem a little better now, though on the day of an IPO, expect longer waits. Executions are quick but reports are sometimes delayed. If I'm not sure about an execution, I've called and they've checked for me over the phone. <<4.How reliable is their online trading system and website?>> Lately I've had no problems during market hours. Sometimes the site has been down on weekends, but since the market is not open, it has not been a big problem for me. <<5.Can one expect to get a reasonably good service from the firm without much hassle ?>> I don't think they are going to win any service awards yet, it's really the IPO access that makes Wit worthwhile. But they don't hand you IPOs on a silver platter, you have to be willing to work to get them. But they really do give them to anyone, even brand new accounts. <<6.Do they update one's accounts daily and on a timely fashion?>> Yes, they show changes in your portfolio in real-time, though account balances are only updated overnight.