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I have accounts with two brokers, Brown & Co. and Datek. I have used Brown
for more than 6 years, and am extremely satisfied with them. The online executions
and confirmations are lightning fast and accurate, comissions dirt cheap, and at the rare occasions
of any problematic executions, they have always resolved the matter in my favor very promptly.
Market orders are executed in about 2 seconds, and limit orders are reflected in about 2 seconds to
30 seconds at worst depending on the particular market maker they are routing that order to.
They typically work with 4 different market makers depending on the stock you are trading.
I have read and heard a lot of horror stories about the "browser based" online brokers, fortunately,
none of that applies to Brown.
Datek is a second best in my opinion, despite the facts that the speed is slightly
inferior to Brown, and customer service is close to being horrible. As you probably know, they predominantly
execute their trades through the Island ECN, and that has its advantages and disadvantages in certain
situations. When it comes to shorting stocks, Datek is better though, as they apparently are able to borrow
almost everything that trades :-) (except for the crazy internet stocks, as they have brought severe restrictions
for certain "hot" stocks recently).
Hope this helps.
Regards,
Levent
-----Original Message-----
From: Ketayun [SMTP:ketayun@xxxxxxxxxxx]
Sent: Thursday, May 20, 1999 6:55 AM
To: erbora@xxxxxxxxxxxxx; Realtraders
Subject: Re: Looking for L2 Daytraders
Hi,
I am also looking for a good online execution broker. May I ask who you
are using and if you are satisfied? Any thoughts on MYTRADE?
Thanks.
Ketayun Rustom
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