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Financial Products & Services / Discount Brokers


Subject:  Re: Hate your broker? Date:  2/4/1999  9:36 AM
Author:  dwswager Number:  9890 of 50510

>What are the requirements for the Ideal On-line
>Broker? Lets be reasonably specific here if possible.

>For example (and these are mainly service related
>since that's where most problems seem to be, but feel
>free to add anything):
>1. Trade time < 1 minute for market orders.
>2. Real-time quotes. Up-time 99% during trading hours.
>3. Phone service. Answer < 10 'rings'; connected to
>live person < 5 minutes.
>4. Globally orientated.
>5. Commissions .....
>6. Extra fees....

1. Adequate Server Capacity and reliability.
2. Quick trades and confirmations.
3. Real-Time Quotes.
4. Trading from a single page which shows your portfolio with performance and quote informations. You should never have to leave this view to get additional quotes or make trades!
5. Give me back end services and not interface design. Personally, I'd like to trade directly from my finacial software (Money, Quicken...). You would use the net to move the small amounts of data, but not have to worry about pumping gobs of graphics and page layout data.
6. Fees should be based on actual costs. You pay for what you use.
7. Immediate updates of postions and balances (again on the same page as the portfolio view).
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