Maybe Warren Buffet will buy it lolzzz
A funny thing happened (subprime mortgages) - now E*TRADE is up for sale.
Thank you for your email regarding quotes. We changed vendors to Wall Street On Demand. I will send an email to see what I can do, but I cannot make any promises this will change. There is no ETA at this time.
Funds Transfer Failure
Step 1. Request transfer of available funds from brokerage to external checking account.
Step 2. Sell stock.
Step 3. Put in a buy order, for less than the proceeds of the stock sale.
Result: E*TRADE sets aside settled funds for the buy order, even though they had been earmarked for transfer. So the transfer fails. (If the funds had already been transferred, E*TRADE would be perfectly happy to use unsettled funds from the stock sale.)
Effective for 1st quarter 2006 (qualifying purchases 4th quarter 2005), 30 trades are required for Power E*TRADE.
With Power E*TRADE, online trades have a maximum commission of $9.99. Without Power E*TRADE, commissions can resemble full-service brokers - more than 2000 shares of a listed stock means 1.5¢ additional commission for each share over 2000!
I opened an account with E*Trade to get their $75.00 offer and never traded there. I used part of my $1, 075.00 at E*Trade to help fund an account I opened at Wit Capital in order to get a chance at the CMGI spin off IPO NavaSite. I was lucky enough to get the NavaSite stock at the IPO price and some shares of FreeMarket at the IPO offering price.
Now, my Wit Capital account is being moved to E*Trade because of a Sound View/Wit Capital/E*Trade deal.
Cash Availability Policy, Myth and Reality
Newly deposited cash is not available for withdrawal for 11 business days, but is immediately available to buy stock.
What would happen if account had some cash in it for more than 11 days ("old cash") and some newly deposited cash ("new cash")?
I had this situation, and purchased stock. I asked the question whether they would allocate old or new cash to the purchase, and was told the new cash is used first.
So I wrote a check to draw out most of the old cash. BOUNCE!! Turns out the old cash is used first for stock purchase. Further turns out they don't log customer service calls, and I didn't happen to save the name of the source of misinformation.
E*TRADE is rebating the bounced check fee. And I am trying to get a letter from them in the hope of persuading the recipient of the check to waive their fee.
This may happen twice on the same check, as E*TRADE will not honor the check before August 30. If recipient quickly redeposits... (I did call to alert them, but they have no way to intercept the bounced check)
Still happy with E*TRADE. Now a little more educated about what I can and cannot do with my account there.
Power E*TRADE: today I was given Level II! First time I've had that, really nice. Makes it that much harder to leave my computer during trading hours.
This is good for 3 months. If I do 30 trades in the current quarter, I'll get Power E*TRADE the following quarter.
At Datek, one can place limit orders using fractions or decimals, the latter being a new option. Since you are qualified for Power Etrade however, I wouldn't consider Datek.
have a good one,
Cary - When I looked at Datek, it was before they offered OTCB B. That eliminated it. I'm glad to see they now offer it.
Questions on limit orders with Datek: do they take fractions only (if so, 16ths, 32nds, or even 64ths?), or allow decimals (cents, tenth of cent??)
That's an irritation with E*TRADE for me - if a stock is quoted in 32nds, why won't they let me put in a limit price in 32nds?
On balance I'm happy with E*TRADE. Especially now that I've qualified for "Power E*TRADE", I have preferred access to customer service. (Power E*TRADE comes automatically if you do 30 trades in a quarter; there's a premium level if you do 75)
You guys should try Datek. Trades, no matter what exchange, are 9.99, and you can trade OTC (although when trading OTC, you must place a limit order). The I/F is good, and they have a really nice looking real time streamer. I've never had a problem executing any orders.
I personally like ETRADE and WebStreet.
Both of them are penny-trader friendly and have really really fast execution times.
I had a problem with WebStreet and lost several thousand dollards, but that isn't as bad as some of the horror stories I have heard...
So, I continue to use those instead of the traditional broker...
Market orders for listed securities (securities listed on an exchange have 3 letters or fewer in their symbol)
All OTC stock orders (symbols of four letters or more), both market and limit, regardless of size
Listed securities placed as a limit order
For listed securities orders over 5,000 shares, per share for the entire order, add:
$0.01 per share
$20 + $1.75 per contract $29 minimum
Broker-assisted trades (in addition to regular commission)
$15.00 + regular commission