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Generally, the quality of the major online discount brokers has done nothing but
improve over the past couple of years and most of the leading brokers provide
similar services, execution, and commissions. I've had trading accounts at a
number of them, but not all. Schwab is relatively expensive if all you need is
basic services for trading stocks and their web pages were still soggy as
recently as a week ago (still maintain investment accounts there). Brown did a
good job for me, however they did not pay money market rates on idle funds and
they were so late into web trading that I moved on. I very highly recommend
Discover Direct: middle of the pack price-wise but top notch all around quotes,
graphs, order entry, execution, and money market rates on idle funds. I trade
NYSE/Amex stocks exclusively because I don't want to put up with fun/games from
NASDAQ and have found executions to be excellent and on those few occasions
where I didn't get the right fill, DD made it good without quibbling. If you
intend to trade NASDAQ stocks, you may want to evaluate the internal order
matching operations at Datek.
Earl
-----Original Message-----
From: Stewart Taylor <staylor@xxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Thursday, September 03, 1998 9:28 PM
Subject: Short term equity trading.
>I've suddenly got an urge to trade a few equities (Ive never traded
>anything but futures) but I don't have a clue as to who would do as a
>reasonable discount broker for a fairly active trader. I think I would
>like to be able to do electronic entry with a phone backup for busy days.
>Is Charles Shwab reasonable? What about E-Trade or Ameritrade?
>
>I don't necessarily want the lowest round turn but I do want reliability
>and reasonably good executions.
>
>Do any of the firms provide Level Two as part of their service?
>
>Any input? I know that this probably rehashes a bunch of earlier
>questions, but Ive always just deleted equity stuff. Thanks in advance.
>
>Stewart.
>Stewart Taylor
>Taylor Fixed Income Outlook
>Voice: 501-219-9774
>Fax: 501-228-0963
>E-Mail: staylor@xxxxxxx
>Web Site: http://www.cei.net/~staylor/
>
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