Datek's Servers

Discussion in 'Retail Brokers' started by the_dude, Jan 16, 2002.

  1. Does anyone else have an extremely difficult time logging in to Datek? I've tried their "backup" servers - and - and they won't let me in either.

    As Datek is my backup broker and I basically never have to use them (knock on wood), I think I might close the account, since there is no point having a "backup" that is this unreliable. I do like their real-time screener, though (you can't beat the price!)

    Does anyone have a better suggestion for a backup- this is what I need - a low account minimum (Datek's is only 5k for no fees), no trading requirement, and MOST importantly good options fees (i.e. $10 base/no minimum/$2 per contract).

  2. Jaba122


    I don't know who your main broker is but you might want to check Interactive Brokers. I gave up on Datek sometime ago, after I couldn't get a confirmation on a trade (lost $3k, grrrr....), to myTrack. Then to IB like 7 months ago. Love it. I hope this helps.

  3. Thanks for your reply. IB is my main broker right now, actually. It is fantastic.

    I just need a reliable backup for options. Any other ideas?
  4. I trade with IB but usually use Datek for quotes as I prefer their format. If I log onto Datek before the market opens I don't have much trouble. From 0930 to 1130 ET it can be difficult, then later in the day it gets easier again. Probably has to do with traffic.
  5. Funster


    I was going to transfer my stock account with Datek to IB. But because it is in an LLC I would have had to pay something like $200/mo in exchange fees.

    Sorry, I know there is a whole thread on this, but can anyone recommend another fully online broker that offers all the feature that IB does?
  6. faction



    I opened an account with Datek a couple of months ago, like you, to use as a backup broker. However, I constantly had problems accessing anything on their servers, with the exception of their homepage (which came up every time). It was very frustrating. I emailed their customer service about not being able to access their system and they told me (I think I still have the email):

    I apologize for the inconvenience. Unfortunately, Datek had experienced some technical problems with the website this morning. Our technical department has since corrected the problem.

    That sounds nice and all, however, I soon learned that this was a total lie. I continued to have problems accessing their system and emailed them again... and surprise of surprises, I got the exact same reply!!!! Now there's customer support for you.

    Alas, I do not know of another broker to recommend. My primary broker, like so many others on this board, is IB. If I do ever complete my quest of finding a good backup broker, I will be sure to post my findings here.


  7. I sent them an e mail as well. They wrote me back saying that they were in the middle of a move and it would be a couple weeks more before things were back to normal, but this is business. If they can't cut it, I'll find someone who can.

    I mean, have you ever heard anything more pathetic than a broker reaching out for sympathy from its customers??? That's just imbecilic.
  8. You guys looking for a backup might consider Tradescape. 1.5 cents a share, 7.95 max. Some ecn fees so its more expensive than IB but not too much. 5K to open an account. Their software is pretty sophomoric but execution was reasonable and you get free level two. For a backup it should be ok.
  9. aldrums


    Check your browser settings. If you have any special security enabled or ActiveX controls disabled you will not be able to access the trading pages.

  10. Sometimes I can log in, sometimes I can't so it's definitely not my browser settings.

    As for logging in early, I'm not going to spend the effort every day, since IB hardly ever goes down across the board for naz.

    If I am in a position and IB goes down, I'd rather just hedge with options. This way I don't have to worry about not getting a short in, SEC noticing that two different accounts with the same name have offsetting positions (in an attempt to short a downtick), etc.
    #10     Jan 18, 2002