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For what it's worth I have tried several brokers with Schwab among them.
I had several problems with them which led me to close my account there
and move the business to Fidelity. Among these were problems getting straight
answers from their branch staff and telephone agents. Some were rude or surly,
frequently they were unknowledgeable or gave wrong answers. Every now and
then mistakes would be made regarding the account and I would have to correct
them. These included funds distributed which did not take place and charges
which were not supposed to happen. The statements are also pretty bad.
By contrast, Fidelity has been much better in terms of their staff, rates, and
technology. I get lower commissions, faster service, and a better set of tools
(Foxplus). Schwab is not the worst yet. Etrade was much worse. They would fill
orders after confirmed cancels. Their statements were among the worst. I have
had good experience also with JB Oxford (stockbroker, phone only) and Jack
Carl/EDF Man (futures, excellent service, very professional order desk).
CAVEAT EMPTOR
Notwitstanding the above, no trader is excused from taking full responsibility
for whatever trade he makes or services he uses. In the end, it's up to you
to evaluate and manage your brokers on an ongoing basis. Unfortunately this can
be somewhat of a rolling doughnut.
Trader Phil/Cupertino CA
telerate wrote:
>
> Well, as their TV commercials so proudly state: "ONE INVESTOR AT A
> TIME!"
>
> By the way, WHO did they sell the contracts to? And what was the market
> value when they sold them?
>
> Regards,
> Ryan
>
> <snip>
> > On August 20,
> > 1997 unauthorized and without my approval sold those 20 contracts
> > at
> > .25 cents per
> > contract to cover for their incompetence. That left me with a grand
> > total of $29.74 in my
> > account. But it does not end their, the grand fanale was when
> > arrogant
> > and a happy broker from their 500 club called my house to inform me
> > of
> > this transaction,
> > so happy in fact he laugh's on the taped message at the end. I saved
> > that message as part of my evidence to be used in a court of law.
> > Needless to say my account at schwab is in the process of being closed
> > and those crooks won't have a chance to do this again to me .
--
Please note the new email address below:
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