Hi abogdan Does the IB charge for the cancelled orders also. I looked at their canadian site, and found that they have a fee for the cancellation orders also. I trade with e-trade, ameritrade, and datek for various family accounts. will shifting be more fruitfull.
Are you with ameritrade professional (Light Speed)? If not then IB will be better for you. If you use their SMART exchange you do not pay for cancellations. Regards,
I trade a few times a month max, and use end-of-day data to make trading decisions. I am NOT a day trader (no disrespect, just not my methodology) and get home at 6 PM, run some scans, check charts, and by 8 PM I am done with my stock market planning for the next day. I am tired of: 1. AH Market bid affecting my overall balance on my cash account in other words, stock XXX may have closed at 22.00 during normal hours, but for whatever reason, its bid AH is $12, my entire balance is now predicated on that, and my "buying power" is not "correct" until normal market the next day 2. I do indeed need web-based, due to business travel, laptops, hotel business centers, etc. Not "platform" or software based 3. Cust Service emails taking 3 days etc, etc I do short sell on a regular basis, does the BrownCo inventory have a decent supply of shortable stocks? I saw somewhere that they were not geared towards short selling (??? unknown if accurate ???) thanks by the way, DATEK was great, I never had a complaint
This month Ameritrade is moving all Datek accts over to Ameritrade. The order entry capabilities as well as the things like acct balances will change with that too, all for the better I am told. And for cryin' out loud, emailing customer service? Get on the phone pronto and get it taken care of. They are always very responsive. Good luck.
I am stationed overseas at the US Embassy and do not have "easy access" to the 800 number. I cant direct dial and be on hold at my office, and at home its not cost effective to call them due to long distance. besides, in 2004, one would think email would NOT take 3 days to respond to
Honestly I not know. This account is where I hold long term positions. Illiquid small caps, fixed income ,IRA...etc. Have never sold short with Brownco. They have a huge customer base so I assume that there is lots of stock to borrow.
fwiw: Scottrade vs. freetrade (have accounts at both) I never really had a problem with fills at Scottrade. However, they had some growing pains earlier this year with their streamer and web interface. These problems seem to be under control now. Mutual fund trading is free for rydex and profunds, and all others if you trade them less than 90 days. Their supply of shortable stocks may be lacking, i.e., you may get "no available shares" from time to time. Just moved an account from the very terrible brokerageamerica (they're selling out--no wonder) to freetrade. Up until yesterday, my experience with freetrade was problem free, and the fills are decent. There's no extra charge for limit orders; your first 20 transactions each month are free, then a sliding scale with a $3.00 max thereafter. No short sales rejected as of yet for lack of shares. Their web interface went down for about 30 minutes yesterday, and you cannot call them (no number). To their credit, they did answer e-mails within 20 minutes. So, the jury is still out--considering technology is not perfect. I would recommend, particularly if you work with limit orders.
Freetrade is a division of Ameritrade, and uses Ameritrade's servers and technology. Therefore, if the guy wants to quit Ameritrade, he didn't really achieve much by moving to Freetrade....