What's the worst Brokerage out there right now, and whose the worse clearing firm?

Whats the worst brokerage and clearing firm right now. Like they charge way too much on commission, bad execution, high fees, and customer service sucks. And whats the worse clearing firm, that they can never find any stock to short. Even when its the big 100 stocks.

 

Any full service broker...

 

Are you working for the SEC or Eliot Spitzer?

 

don't discourage the lad.


these stories are likely to prove to be entertaining as well as informative.

 

I am not discouraging at all : D


There are broker ratings here on the site for guidance. But I have seen that most of the popular discount brokers are so competitive that they all provide great clearnce and execution with low fees and commissions. And for the most part customer service is good to great.

Those with the large full-service brokers are the ones I hear moaning about fees and lack of investment advice/service (which is the only thing they are paying extra for).

Jeez imagine someone paying like $50 to buy 100 shares of stock LOL. Just to get an old newsletter on stocks research threw up and passes out as great research to clients.

 

Where can you get analyst reports without being a customer?

 

lol well yeah but I was looking for some funny stories. Like somehow ib clearing screwed up, and they had to bust your trades. Or Tdwaterhouse charges 50$ to wire, but then another 150 for taking out money. those kind of stories. Or scottrade, gives you only 6 month old research, and claims its new.

 

Well I will start it off. My Dad has his IRA with some large investment bank. Once in a while I recommend a stock to him for yield and capital preservation and stuff like BPT and he asks his guy to give him any research available.

Now this firm is one of those "charge $200 commissions" kind of shops. But it is quite large and he uses them for bonds and stuff like that and does not actively trade it (his age he just wants it to be there lol).

My Dad gets the research on BPT and it was 3 pages of price charts with basic info on the price, P/E, yield and shares outstanding and the price charts were 1 month, 6 months and 1 year.

This is the shit you pay $100s in commissions for LOL.

 

E*Trade is complete dogshit. Software sucks...executions are a joke...and customer service is non existent.

 

Prudential Securities. PruCo. Prudential- Bache. Whatever that fugnut is called.