A Lateral Shift
Written: Jun 17 '03
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Pros: Online Trading of securities
Cons: Already 1 screw up
The Bottom Line: It looks like this is a good service for the occasional investor. "Day Traders" need not apply!
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| Schlamozzel's Full Review: Ameritrade |
Hi there,
Schlamozzel here. If you are wondering what we SLUMLORDS do with our big money profits (yeah, right)read on!
For the last few years I've had an account with MyDiscountBroker.com. I wrote a short "Epinion" about their service. Back in the days when I was just getting started the service was fine. But as time went on and user agreements began to change almost daily I was unimpressed.
So, MDB sold out it's accounts to Ameritrade. This is the American way folks.
3 days before the account transferred, I traded some shares of 1 company off and purchesed more shares of another company I already had in my portfolio. I was assured by MDB that the transition would be seamless and that "settlement" would not be an issue.
The transition day came and went. On Monday morning, June 16, 2003 I began the "business day" much as always, with my cat in my lap and face glued to the computer. I checked out the portfolio and then got off line to do some errands. Everything looked fine in the morning.
One thing lead to another yesterday, and I never made it back to my computer until very late at night. So curiosity having the better of me I logged on and found...
WHERE THE HELL DID ALL THOSE SHARES GO? were the words that abruptly awoke "Mrs. Schlamozzel".
So this morning I called the toll free, "Sit in a chair with a phone in your ear until we feel like getting to your call." number. 1 800 669 3900 After as short while speaking with an actual human being the problem was rectified.
Ameritrade boasts commissions for on line trades of $10.99, and broker assisted for $14.00. It offers all sorts of market data, research, analyst reports and consensus expectation information. They also make it easy to link your regular bank account to the brokerage account for quick funding, or withdrawls. This is something that MDB had me ripping my hair out over. So in this regard I'll say I have seen an improvment.
Ameritrade allows for margin trades, short selling, IRA accounts and all other popular equity transactions. I do not use these services, so I can not report on their quality of service in this regard.
As far as I can see I think this service will be a marginal improvment in my quality of online investing joy. (Yeah, right. As my friend's wife says, "How much money did you spend today to make $25.00, huh?)
I hope this helps you make an informed decision. Please take a moment to rate and leave a comment if you can.
Cheers,
Schlamozzel
Recommended:
Yes
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Epinions.com ID:
Schlamozzel
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 - Top 1000 |
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Member: Jeff B
Location: Elsewhere
Reviews written: 156
Trusted by: 95 members
About Me:
Hi there Ron C you internet-stalking, woman-beating whale dung! Have your friends come read THIS!
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