e*Trade: Good? Bad?

[wjean]

I'm about to open an account with e*Trade. Any ideas? Is e*Trade even the best choice or are there any other reputable online brokerage firms? Any help is appreciated!

[Leon]

I've used both E*Trade and Ameritrade. I like Ameritrade a little better. Their interface is a little less confusing.

[wjean]

Leon:

Thanks! I do agree that user interface is a really important factor when judging the ease of use of any website. I think I'll consider joining Ameritrade just for that factor alone ;)

[spigidygak]

Go with ameritrade or datek. I currently use Datek and I like it a lot. Plus either one is a lot cheaper than etrade.

[wjean]

Thanks, spigidygak!

Cheap trade is a big plus as well ;)

[stupidzbu]

etrade is VERY confusing...

Ameritrade is simple and to the point...
but I would go for datek (haven't udes it personally) over ameritrade...

cause ameritrade SCREWS UP BIG TIME.. ALOT !

I called a CR.. and asked about doing an EFT to fund my account.. the guy said 'if it happens.. then we already have the money in the account an dyou can trade with it'....

so.. i did it.. and it worked! ... so i traded.. and naturally.... the stocks went DOWN.. about 5 days later.. i have NO MORE stocks and OWE ameritrade $620 !!

so.. i call to see what is up.. and the guy says.. the EFT did NOT go through.. and since I hadn't funded my account in time, the stocks were sold to cover.. and I owed the difference....
i went ahead a told him what happened.. he said the CR i spoke to must have said it differently.. a way tha tI MISinterpreted... blah blah blah..

long story short.. i'm out $630 and suing ameritrade small claims...

my room mate... put an order to buy 1300 shares od PSI-NET... then he changed his mind and cancelled.. he did this 3 times.. but ALL 3 times, it stted that the order was cancelled... (soudns weird.. but he is an idiot.. who can't make up his mind *grin*)
he wakes up the next day... and has 1300 shares at $2.90... plus 250 shares of NANX and a $1290 balance in his account.. we add up all the numbers... and this is what happened...

his FIRST order WENT THROUGH! at $2.90 .. the stock was fluctuating between $2.75 and $4.20 that day (crazy CRAZY day!).. so.. the SECOND order SOLD the stocks at $3.90 !!! and the THIRD one bought them back at $2.90 !!!
so.. he pretty much came up on $1300 in the ordeal!
well.. i told him to cash out and close the account ASAP before anything happens... but he didn't listen...

they sent him an order confirmation that the LAST time he bought was at $2.90.. but on the phone they said 'you really bought at $3.90..' and liquidated $1300 worht of stocks and took the money... they said it was HIS fault... and not theirs...

so.. now HE is going to small claims ALSO.. with confirmations of transactions at hand.

all in all.. AMERITRADE SUCKS... but they are easy to use and DO offer 25 free trades (you can have as many accounts as you want.. i usually open a new one and do a full transfer to use my 25 free trades hehehe)...

so.. you decide!

[cruelpupet]

I have accounts with etrade and datek

Datek is far better, and etrade recently started charging for account inactivity

[giambona]

I have an account with CSFBdirect and i haven't had any problems yet (i've probably done about 50 trades). Although they're a lot more money than other online brokers ($20/trade) they give you a lot of research, their site is very easy to use, and customer service is excellent.