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My experience with Cybercorp is not good (I closed my account after 8
months of active use). Here are the types of problems I experienced:
Software just not stable - there is almost always something that goes
wrong:
a. level II stale or incorrect. Same for quotes/charts in general.
b. account manager (open positions) can be incorrect, ie it shows you
have 500 INTC, while you actually just sold it.
c. Their "hunt and seek" execution sometimes fails or simply "gets
stuck" at prices that will never get executed
d. CyberQuant is not reliable. Some scans give incorrect results
e. network connections were not reliable (this is not necessarily
Cybercorps fault). I several times experiences several seconds of
network backup at some switcher between abovenet (my ISP backbone) and
whatever cybercorp was using. Obviously this is not something I or they
could fix, but give that placing a order takes a few network round
trips, suddenly I had 30sec delays on order confirmation,cancellations
etc. Gets expensive quickly :)
Commissions are too high. It will basically cost you about 2x$18 to get
in and out. That's to high to get good at it. I felt I should trade
with 200 to 500 shares initially, and found it impossible to overcome a
$36 commission.
I have to say that tech support is excellent and that they seem eager
to fix whatever problems you encounter.
Finally, their simulator gives unrealistic fills (they tell you this,
btw).
I gave up in mid January, so maybe they have gotten their software
finished by now.
Allan
--- neo <neo1@xxxxxxxxx> wrote:
> Thanks Allan
>
>
> Can anyone tell me about their Cybercorp experience or other direct
> access
> brokers with Quicken download?
>
> Thanks, neo
>
=====
---
Allan Havemose, Ph.D.
havemose@xxxxxxxxxx
havemose@xxxxxxxxx
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