Thursday, May 01, 2008 1:04:10 AM
http://www.qqqdirect.mystockfund.com/
basically their accounts are "handled" through mystockfund, but the reason you want to open it through qqqdirect, is because that's the only way you can get a zero-monthly-charge account.
mystockfund uses Legent clearing as their clearing firm, and Legent can be (not always) pretty good with speed of getting round ups....but that's been my experience with most clearing firms. Once time they're first, the other last. Except TD Ameritrade which always sux. Maybe IPOR was just a Legent screw up. Never got MXSV.
mystockfund has drawbacks!
the only discount brokers I know of are Tradeking, and mystockfund.
Tradeking is now useless for otcbb/pinksheets, and they froze down my accounts because of roundups. Had to get Finra involved to get them to ACAT transfer my JDMC shares to another broker, as they REFUSED. aholes.
mystockfund is similar to sharebuilder. It's one of those dollar-cost-averaging, big-board stocks kinda brokers. They charge your commission costs ($12.99 for realtime trade) all at once. Once a month to either a credit card or bank account.(usually the first Friday of the first full week of the month after your purchases......got that?? lol) ......
AND........ no limit orders! Maybe if you call them, they would do it ......IF.....you can talk to someone. I don't think they are geared to be taking peoples trades over the phone.
qqqdirect (Legent really) closed down/consolidated my 6 accounts into 1 because of my round-up playing. so they are smart to it. I still have 1 account with useless roundups because they're worth less than $12.99. I haven't used the accounts in weeks.
Not doing the round-up thing much/any more. Got burned with heavy commission costs for MXSV. might play in 1 or 2 accounts. I'm closing most down.
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