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Non-Tech : Fidelity FOX Spartan Brokerage -- Ignore unavailable to you. Want to Upgrade?

To: John D. White who wrote (90)5/4/1999 1:52:00 AM
From: Mohan Marette  Respond to of 222
 
How about DLJ,Discover,Waterhouse etc,you may want to check with them and see unless you have already.May even one of those online cheapies like Datek or someone like that.



To: John D. White who wrote (90)5/4/1999 7:42:00 AM
From: Ron McKinnon  Read Replies (1) | Respond to of 222
 
John, I think that many will be dumping Fidelity

I've been with them for 7-8 years

the "roll-up" of trades combined with a 60% commission discount that I had kept me with them as my effective commission was about .0082 a share or $8.20 per 1,000 shares
based on the way I tend to trade the same stock over and over this was very competitive with other brokers

it looks like the new commission structure will increase my costs by about 250%

I make 3000-4000 trades a year

over the last few days I have worked my way up the management ladder to no avail
they attitude is basically that they are not interested in day traders as customers; seem to want "investors" who will keep large cash balances

Fidelity was considered to be the "Big Dog"; with many of us bailing they will be lucky to end up as a puppy in the trading business
what a bunch of jerks in this competitive world

so it's BYE BYE for me




To: John D. White who wrote (90)5/17/1999 12:47:00 AM
From: John D. White  Read Replies (1) | Respond to of 222
 
Just wanted to set the record straight about my complaint concerning the roll-up of commissions. As a one-time favor, FIDO DID give me credit for the ten trades or so I did not knowing the roll-up was in effect.

I told them I felt the disclosure was not clear. Hey $100 is $100.

Still bummed about this though. I really liked and used that feature a lot.


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