Please Help - Etrade cost me $2,500 today

Quote from angryangry:

Limit orders dont always get filled.Ive seen many of them in my time go back and forth several times over the limit price and never fill them.
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My limit orders always get filled.

Everybody's limit orders can get filled if they time
it according to the current ask and if their position
size does not exceed the remaining ask size shares.
(If you are a gigantic spender, this can happen otherwise
no worries).

So the question is, why aren't yours getting filled everytime?
It has to be your fault in how you set it up.
Set it up to take immediately upon entering the order and you
will get filled at the current ask, before it changes, if this is what
you've specified. Or, to ensure that you at least get close
to the price you want, set your limit just a few cents above
the current ask and you're in.


TRADERSOURCE --
Concerning Etrade Commissions, you seem to be right.

My bad, I was basing my statement on what I pay as a
former Brown and Company customer.

We were allowed to keep the same Brownco rates for the
forseeable future: $5.00 for market orders, $10.00 for limit orders.
 
Quote from stylark3:

My limit orders always get filled.

Everybody's limit orders can get filled if they time
it according to the current ask and if their position
size does not exceed the remaining ask size shares.
(If you are a gigantic spender, this can happen otherwise
no worries).

So the question is, why aren't yours getting filled everytime?
It has to be your fault in how you set it up.
Set it up to take immediately upon entering the order and you
will get filled at the current ask, before it changes, if this is what
you've specified. Or, to ensure that you at least get close
to the price you want, set your limit just a few cents above
the current ask and you're in.


TRADERSOURCE --
Concerning Etrade Commissions, you seem to be right.

My bad, I was basing my statement on what I pay as a
former Brown and Company customer.

We were allowed to keep the same Brownco rates for the
forseeable future: $5.00 for market orders, $10.00 for limit orders.
More...

Yeah, Im definitely leaning towards Etrade using their Power Etrade Pro software.

1) $99.99 per month if you do between 20-149 trades OR >250K in assets

2) 9.99 charge for all shares on all exchanges

3) 35.00 for broker assisted trades

4) ECN Fees ONLY when you remove liquidity. They offer Inet, Arca, Isld.

The only time they charge you per share whether removing or adding is on the TSX Ventue exchange at 0.0036 per share up to a maximum of $30.00 dollars or something like that.

Its just about as cheap as IB really. But with better customer service.

Thats how I see it, if someone sees it differently, id like to know.
 
INVESTORSOURCE --

I don't understand.

Why do you have to pay $99 per month to use Power Etrade Pro?

As long as you do 30 trades per quarter, there are no additional charges to use the platform.

:confused:
 
Quote from stylark3:

INVESTORSOURCE --

I don't understand.

Why do you have to pay $99 per month to use Power Etrade Pro?

As long as you do 30 trades per quarter, there are no additional charges to use the platform.

:confused:
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https://www.canada.etrade.com/pages/powere/qualify.shtml

that above is the link for the platform fees.

As you can see between 30-149 trades per month, you end up paying 99.99 per month platform fee.

I dont see myself doing more than 149 trades a month, so to me, its a moot point.
 
Interesting. The US E*Trade doesn't charge a fee for Power E*Trade Pro if you do more than 30 trades a quarter, but there are these ECN fees:

When you place an order in the Extended Hours session, it will be routed to the INET ECN for listing and execution from 8 a.m. until 8 p.m. ET. An ECN fee of $0.005 per share will be added to your regular commission for each executed Extended Hours trade.

If you decide to route your order to an ECN through Power E*TRADE Pro, an ECN fee of $0.005 per share per executed trade will be added to your regular commission. This fee is the same for both ECNs available through Power E*TRADE Pro: INET and Archipelago.
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The time frame is quarterly, not monthly.

The platform fee is $99 per month, if someone is doing 30 to 149 trades per quarter.

So you could be doing 149 trades at $9.99 per trade and spend $1488 (over the 3 month period) in commissions.

Should you not do at least 30 trades, the base platform fee goes up to $199 per month.

I have no idea if this is a fair deal for this individual. We do not know the style of trading or investing this person is using.

Maybe for Canada, this is a good deal. Hopefully a few of our northern neighbors can comment on this.

Regards,

MM
 
Commissions in Canada has always been higher than in the US. There just isn't the competition that is available here. Plus there is also the rule that CDN brokers 'know' their clients and hence more overhead.

I'm not sure now, but there might be a US based broker that will take a CDN account. For the "old timers", I used to have a Datek account when I lived in Canada.

Quote from MarketMonk:

The time frame is quarterly, not monthly.

The platform fee is $99 per month, if someone is doing 30 to 149 trades per quarter.

So you could be doing 149 trades at $9.99 per trade and spend $1488 (over the 3 month period) in commissions.

Should you not do at least 30 trades, the base platform fee goes up to $199 per month.

I have no idea if this is a fair deal for this individual. We do not know the style of trading or investing this person is using.

Maybe for Canada, this is a good deal. Hopefully a few of our northern neighbors can comment on this.

Regards,

MM
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Well I emailed them to ask where abouts on there site is all the things I want to know or if they could answer the questions for me.
I got an email back saying to ring them up or go to www.ETRADE.com which wasn't very helpful considering I already emailed them from the main site.
I guess you can see the professionalism of a broker by there customer service :D
Like any company if there customer service is poor then no doubt so is the management.
 
How did you lose $2500? A $0.20 profit times 500 sh comes to $100, and that's before commissions!!! Most of the replies on this subject don't even know what they're talking about. I've been day trading E*TRADE for over 10 years and have had one problem and that was my fault. I didn't understand the market rules. YOU don't even know how E*TRADE works. AUTO allows E*TRADE to do whatever they want with your order and your order expires at 4pm! AUTO is not an ECN. You have to select one of their 3 ECNs to trade an ECN. You have to use an ECN to trade extended hours, which is what you were supposedly trying to do. You also have to use a LIMIT order to trade extended hours, which you may not even understand the reason for.

And for those of you looking for a 4 letter company on the NYSE don't know your exchanges. All companies on the NYSE have only 1, 2, or 3 letters. ETFC is on the NASD! And watch what you say because the company you trade with now might be bought out by E*TRADE.
 
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