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Unfortunately, they have not gotten any better. I'm about to close my
accounts with them for the same reasons.
Since the Schwab takeover, Cyber has never been as good as before. The
support people try to be helpful, but nothing seems to get fixed. I was on
a commission rebate program that brought the commissions down to $12 or so,
but even that is too high. Since then, I've used two different realtick
based brokers (www.equitytrading.com and www.terranova.com). Both have
programs that will bring the effective commission range down into the $8 or
so range. Realtick is better than Cybertrader in many ways -- the most
compelling being the ability to set up predefined chart layouts (pages)
which are completely independent of each other. Cyber always seems to have
one thing or another carrying over from one layout to the next.
At 07:55 AM 4/9/2001 -0700, Allan Havemose wrote:
>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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