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Rayvt wrote:

Once you have above a certain amount of money in your account, the commission cost is de-minimus. Consider buying 100 shares of a $50 stock. What's the difference in total cost between $5 commission (Brown), $10 commission (Datek), and $0 commission (Folio)? What's the $10 commission compared to the taxes you'll pay on your profits?

Folio is not suited to someone trading with the MI screens. When I want to place an order, I want it filled NOW, not "some time this afternoon".


You make some good points that I had not considered. I'm sure you are correct that many people would not switch.

However, to offer another perspective, I think that Folio would be ideal for MI if the ValueLine stocks were offered. A big reason is fractional trading. It is much easier than buying whole shares, and it allows you to stay fully invested. Folio makes it extremely easy to buy a batch of 15 stocks all at once. Supposedly (I can't verify this and I'm not terribly concerned about it) the Folio method makes for lower spreads, as well.

Regarding when orders are filled, my experience is that it has never taken longer than 20 minuts from the scheduled window time. If a trade is to be executed at 10:15, I have always been able to view my new holdings by 10:35 at the latest.

This may not suit you, but I think there are others who would be satisfied.

Incidentally, I have been advised by Folio that at some point in December they will be making a change in their process for selecting window stocks which will result in a greater number of ValueLine stocks being available. (Most are available now -- unfortunately many of the ones the screens selection, like HUF, IMPH, KEI, DP, and LMS, are not.)

--mnade;
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