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Bob, thanks for the information. That was just what I was looking for.
John
----- Original Message -----
From: "BobsKC" <bobskc@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, February 02, 2002 10:00 AM
Subject: Re: [RT] Stock Brokers
> I have used Datek for part of my investment funds now for about four
> years. It is true that they recently had a few days of problems where
they
> were off line for parts of two days and all of one day. In their defense,
> I must say that these outages were the first of any consequence that I
have
> experienced. The reason their systems failed was they moved their
physical
> location and hardware problems cropped up.
>
> As to the quality of their service, the fills are not lightening fast but
> they are satisfactory for most day traders and they have made few
> mistakes. When they have done or not done something I felt was unfair or
> wrong, they have made it right in every instance.
>
> For accounts of $25,000 or more and in active use, they offer free level
II
> which saves one this expense. They also offer a free streamer but I don't
> use it since I have a full service quote company and the streamer does
slow
> down your machine if you have many symbols on it. All trades are $9.99
> regardless of market or limit or stop limit, etc. You can enter your
order
> via the MM or their own system, (Island), or to all markets with the order
> execution system and you can set up your account so that there is no
> confirmation page which speeds trades into the system with one click.
>
> You can get check writing privileges and you can transfer money via wire
or
> ach transfer from your Datek account to your bank, on line. There are no
> fees for the ach transfers and they take about the same time as a wire.
>
> The research available is excellent for a free service and charts are
> adequate. Account histories are available going back three years where
> most brokers only go back a few months. This is a plus when working with
> tax issues.
>
> So, other than the one three day period of problems when they moved, (and
> no, you couldn't get into their office via phone during that time), I find
> them a reliable and attentive service which offers more than most do for
> very reasonable fees.
>
> Bob
>
>
>
> At 02:45 AM 2/2/2002 -0800, you wrote:
> >Brian,
> >
> >I'm interested in trying Datek, and I've read messages that confirm what
> >you're saying. But I've also read messages that talk about how hard it
is
> >to reach Datek when there is a problem, or when the system goes down and
> >you've just bought a stock and haven't received a fill and can't reach
> >them on the telephone, that type of situation. Can you tell me about any
> >negative experiences you've had or heard of...or if you think what I've
> >read is incorrect.
> >
> >John
> >
> >
> >----- Original Message -----
> >From: <mailto:blink64@xxxxxxxxx>Brian
> >To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
> >Sent: Friday, February 01, 2002 7:03 PM
> >Subject: RE: [RT] Stock Brokers
> >
> >Datek is better IMO. Commmision-wise Datek is better, quotewise Datek is
> >better, and fill wise Datek can't be beat. They also give great
streaming
> >quotes that I think are free to their active customers. IB for stocks I
> >think charges $20/mo or qtr active or not. Datek gives fast fills. Very
> >fast fills. Order entry is decent and record keeping is good. IB is
good
> >for electronic futures and good for stocks but I think Datek has them
beat
> >for stocks. Margin rates and rules at Datek are more favorable too.
> >
> >I advise anyone who asks me to use Datek.
> >
> >B
> >-----Original Message-----
> >From: CRLeBeau@xxxxxxx [mailto:CRLeBeau@xxxxxxx]
> >Sent: Thursday, January 31, 2002 4:40 PM
> >To: realtraders@xxxxxxxxxxxxxxx; omega-list@xxxxxxxxxx
> >Subject: Re: [RT] Stock Brokers
> >
> >In a message dated 1/31/02 3:55:28 PM Pacific Standard Time,
> >zaitech.llc@xxxxxxxxxxx writes:
> >
> >
> >
> >>Hello All,
> >> A friend asked me to recommend a decent low cost discount stock
> >>broker so he could buy some penny stocks. Would any one have any
> >>recommendations?
> >
> >
> >Take a look at Interactivebrokers.com
> >
> >Stock commissions are only a penny a share (or less) and a very
> >user-friendly Traders Work Station platform for placing orders online.
If
> >you find anything better please let me know.
> >
> >Chuck LeBeau
> >clebeau2@xxxxxxx
> >
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