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Conference nyoss1::market_investing

Title:Market Investing
Moderator:2155::michaud
Created:Thu Jan 23 1992
Last Modified:Thu Jun 05 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1060
Total number of notes:10477

460.0. "Information re E*TRADE" by DOMO::NEIL (Peter C.) Fri Apr 23 1993 23:34

Hi All,

I'm interested in using a Brokerage service available on COMPUSERVE
call E*TRADE.  According to the material I've seen the comissions are
lower than Fidelity, there are no connect time surchages (a major benefit
considering the on-line costs for non-Basic services on Compuserve), and
you can get real-time quotes for stocks and options for a small extra
fee (normal quotes are 15 minute delayed).

For anyone who might know, I have a few questions:
 Is the connect time *really* free (ie, are there any hidden charges I
should be aware of) ?

 What is the extra charge for real-time quotes ?

 How do the comissions really compare ?

 Are they clean and reliable ?

It seemed like a good deal compared to the $90 cost for the on-line
software from Fidelity. But, ....

Thanks for any information,

Peter.

(cross posted in MARKET_INVESTING and COMPUSERVE)
T.RTitleUserPersonal
Name		DateLines
460.1Satisfied customerVIA::REALMUTOConstant Vigilance is the Price of FreedomTue Apr 27 1993 15:5932
    I just started using E*TRADE on CompuServe a few weeks ago.  The
    commissions are 1.5 cents a share with a $35 minimum.  This works
    out to be even less than the commission you pay when selling a
    little over 100 shares through the DEC ESPP. I particularly like the
    ability to set limit orders, at no extra charge.

    I've only made two trades so far.  One to sell some of the DEC stock
    I put in the account and a buy.  Both were executed without a hitch.
    Email notification came immediately after the trades, followed by a
    regular mail confirmation 4 days later.

> Is the connect time *really* free (ie, are there any hidden charges I
>should be aware of) ?

    They say there are no "surcharges."  This means additional charges by
    E*TRADE. You still pay CompuServes charges for extended services,
    which at $8/hr works out to about 13c/minute.  You can dial in
    directly to E*TRADE's computers, but that costs something like
    27c/minute with something like a 12 minute credit for each trade
    made (these may not be the exact amounts, as this is from memory).
    They also have a touchtone system.  Why don't you call them for an
    application packet at 800-786-2575.  You can also apply on
    CompuServe, but you'll pay the extended rate while you fill out the
    online application.  Also, if you have basic services on CompuServe,
    you can read about all of their policies, fees, etc free of connect
    time charges by GOing to ETRADE.

    I don't really remember what the charge is for realtime quotes. It was
    whatever the exchange fee was -- between $15 to $25 dollars a month,
    I think.
    
--Steve