RE: Online Brokers

From: Lydia Cline <lcline@johnco.cc.ks.us>
Subject: RE: Online Brokers
Date: Wed, 06 May 1998 23:08:33 -0500

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<<I am checking to see if anybody has had experience (good or bad) with =

online trading companies such as E-Trade, Datek, Lombard, etc. Is this
as=20
reliable as going through a live broker if I already know which stocks =
I

want to purchase?=A0 Why is there a difference in the fees (ranging =
from=20
$9.95 to $19.95) aside from the variance based on the number of shares=20
purchased?=A0 Thanks! >>

I do all my trading with two houses: Schwab and Ameritrade.=20
Schwab charges $30 per trade, Ameritrade charges $8/market orders and
$13/
limit orders. I am very pleased with Schwab's service and satisfied =
with
Ameritrade's. Ameritrade currently does not have the infrastructure
needed to accommodate their large customer base, thus execution reports
are often delayed, phone calls are met with 20 minute holds, and their=20
website is sometimes down. Plus, they took almost three months to
transfer=20
money from other brokerages when I opened my accounts! However, so far=20
they have executed all my orders correctly and in a timely fashion.

Schwab's website is almost always up and running, their execution
reports
are instantaneous, and customer support is received within two-three
minutes.=20


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