To: Susan G who wrote (367) | 3/26/2000 11:20:00 PM | From: Renate Niermans | | |
That's for sure. Once, when AOL split, I tried to get out fast and couldn't. Had to call DLJ, and you know how long I had to wait on the phone before I could talk to someone. Didn't make as much money as I could have. But, I guess that's how that cookie crumbles. <g> Renate |
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To: Pices who wrote (364) | 3/28/2000 1:29:00 AM | From: Z268 | | |
This deficiency from DLJ sucks big time!
In fact, if the electronic data is legally binding (they will tell you the paper copy is the legal document), then DLJ is posting incorrect information. If the split shares are not delivered until the 29th, then the balance should reflect the pre-split shares at the pre-split price. Showing the pre-split shares at the post-split price is incorrect and misleading.
When I called up to query, the Customer Service rep was obviously annoyed, and yelled at me for being one of hundreds of annoying meaningless calls!
When my account is corrected, I am voting with my feet - I am through with DLJ - they have the worst system of any of the online brokers! And their Customer Service reps are probably trained at the famous DLJ Gestapo, er I mean customer abuse, training school! |
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To: Z268 who wrote (369) | 4/4/2000 9:04:00 PM | From: WalleyB | | |
Glad to hear that butting in is not scorned.
I've been with DLJ for about 5 years (something like that). I don't trade frequently and I have another account at E trade, (boy there's a sorry story). But, E trade allows a "buy/sell all or none' option when trading. I was sure that DLJ did also but didn't see it the other day. Wouldn't bother me but the other day before that I guided my wife over the phone to buy 4K shares of a stock and she said that option was not on the screen. Given the high volume the stock was trading I figured, no biggy.
Whoa! I got the confirmation in the mail and my trade was filled in five different amounts. Cost me $86 or so. I'm not a happy camper. Calling them to find out why is an investment in time I am loath to make, I grow old waiting to speak to someone and Email is not much better in terms of substance.
BTW , E trade was listed in the Barrons article two weeks ago. They quoted burn rates for dot coms. Wonder how long they will be around? Well to be fair they appeared to be at the safe end of the list, maybe 2+ years before the cash runs out (if I remember correctly).
thanks for the indulgence, I just had to whine. |
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To: Tai Jin who wrote (372) | 4/22/2000 2:32:00 PM | From: WalleyB | | |
Tai Jin,
After posting my question a while back I looked into what happened with my account. I apparently did not read the commission policy very well as it explains away my confusion. If your account is valued under $100K any trades that exceed 1000 shares are subject to a two cent a share charge plus the flat rate of $20. Thus my 4,400 share purchase cost me $20 for the flat fee plus $.02 for the 3,400 share balance. I don't like it mind you, I think it cheap of them and am considering transferring my account to Datek. But there are economic realities (read, it cost you money to do that, they have more fees) that need to be assessed before that can be carried out.
E trade was really on my bad list a long while ago before they upgraded their system. For the longest time my account was in limbo and I couldn't access my cash to make trades, nor could I get anyone to return my Emails, and phone calls were out of the question. My ear doctor told me I could suffer damage if I allowed the receiver to be pressed against my head for extended periods of time <g>.
Wb |
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To: WalleyB who wrote (374) | 4/22/2000 2:45:00 PM | From: Tai Jin | | |
I also think it cheap of DLJ to charge per share above 1000 or 2000 shares, but I rarely trade more than 1000 anyway. I also have a Datek account, and although they have their problems they are better than Etrade or DLJ for trade executions and commissions.
One thing I have noticed on several limit order trades with DLJ is that I don't get filled until the bid has moved to my limit for sells and the ask has moved to my limit for buys. That is, my orders don't appear to be represented in the market, so I'm always paying the spread. I know this because I'm watching a level II display of the market. In this respect, DLJ appears to be worse than Etrade.
...tai |
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To: Tai Jin who wrote (375) | 4/22/2000 2:57:00 PM | From: WalleyB | | |
"...DLJ appears to be worse than Etrade",
Hmmm, DLJ's commission structure, then, is a high price to pay for rotten service.
Even more reason for me to move to Datek.
Now that you mention it, what are the problems you have found with Datek? their commercials certainly paint a rosy picture, what with free commissions if they don't execute within 60 seconds? I can't help but wonder what sort of caveats are tied to that promise. Is it tough getting on line with them? WB |
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To: WalleyB who wrote (376) | 4/22/2000 3:29:00 PM | From: Tai Jin | | |
Datek does not allow you to trade OTCBB stocks, nor do they have options trading (although they've talked about offering it for a long time now). Just like the other brokers, sometimes you can't get a response from Datek's servers. I rarely use phone support, so I can't tell you how quickly they respond. But their interface is easy to use and quick for order entry, and there are several third party interfaces that make order entry even faster.
Don't count on the free commissions if the trade doesn't execute after 60 seconds. You really end up losing money because your order is likely to have executed at a bad price relative to the market. The caveat is that the order must have been marketable for those 60 seconds. I've only gotten the free commission on several trades out of many hundreds of trades.
Overall, I like Datek because the order entry and executions are typically very fast, and the commissions are low.
...tai |
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