A Datek's Deception??

Datek offered “50” free trades to clients opening a new account or increasing there current account to over $25K by September 28,2001. The trades were supposed to be available by October 4, 2001. They are now telling people that the free trade are to be spread over 5 months starting the “middle” of November (if they keep their account above $25K). This was a shabby sales tactic to say the least.

 

Good luck with Datek. I closed my account with them after many other deceptions. I think their marketing department are "ex-infommercial" producers. Try trading with IB and forget that madison ave. bs.

 

I stopped trading in my datek account a while back after switching to IB and i left a small amount of cash there. Datek has actually called me asking if I wanted to increase my equity to 25k. They used the 50 free trades as the hook. Too bad for anybody who was looking forward to the trades, which amounts to $500, a sizable promotion.

 

I still have a lil bit of cash there as well. They have ruined my relationship by promising to allow options writing for over a year and a half. By the time they allowed it, I had moved on. They also had a nasty habit of partial fills. I understand partials happen, but they gave me so many from the island it was funny. I keep the account for the Streamer as a backup quote provider. That will end soon when I find a QCharts replacement.

 

If you fine a QChart replacement let me know... What do you think about AFI?

 

Haven't tried AFI. Do they have a free trial?

 

Yes - two weeks

 

What's their web address?

Do you use them? Whaddaya think?

 

I left some cash at Datek as well. I'm really mad at them for charging me a $15 inactivity fee! I have to pay for not making use of their services! I wasn't even allowed to use their Streamer as I didn't have $500 there. And now they say the inactivity fee is to provide all their customers with free quotes or that kind of bs.
I consider their inactivity fee stealing, and told them so. But all you get is their pre-formulated word-processed answers, everytime from another guy. There's no way you can really discuss this with them and tell them they're only being stupid, chasing away potential customers.
Yes, I'll definitely close my account there.

 

Brokerages have to make money too. A dormant sub $500 account costs more for them to keep open than to lose.