Conference nyoss1::market_investing

745.0. "ETRADE Discount Brokerage Firm" by UCROW::PEARSON () Tue Jul 19 1994 19:33

				E*TRADE

ETRADE advertizes itself as America's Electronic Brokerage.  They offer low
commissions and online trading.  I received the following information from
them on 7/18/1994.  The gotchas as I see them are if you want online,
realtime quotes on stocks and options you'll have to subscribe to Last Sale
Prices.  For 15 minute delayed stock, index, and option quotes, they charge
connect time @ $0.27 per minute.  If you are a Nonprofessional, a
subscription to Last Sale Prices will cost you $30.00 per month.  No charge
at Fidelity for FOX users.  For you pros, it'll cost you $191.10 per month. 
ETRADE does give you 12 minutes free connect time per executed trade.

They don't have special PC software like Fidelity or Schwab.  You access
them using a terminal emulator of your choice. Still, all in all it looks
pretty good to me.

    E*TRADE Securities, Inc., 480 California Avenue, Palo Alto, CA 94306,
    1-800-786-2575.

    Email addresses:

	[email protected]			America Online
	[email protected]	Compuserve

ETRADE is the America Online brokerage firm.  If you have a membership to
AOL, you can get the delayed quotes at the regular AOL prices which is
cheaper than $0.27.  You don't need an ETRADE account to access their
delayed quote service through AOL.

    STOCK COMMISSIONS			OPTION COMMISSIONS

    $25 per Trade*			$20 plus $1.75 per
					contract $29 minimum
    Day Trades:
    $20 Each Way*

	* For listed security orders greater than 5,000 shares, add
	an additional 3/4 cent per share for the entire order.  Day
	Trades are subject to the same per-share charges, if any.


		    COMPARE YOUR SAVINGS*

			STOCKS	    STOCKS               OPTIONS
			 (any)	   (listed)
		    _____________________________   ______________________
Shares/Contracts     100    1000    5000    6000       2      10      30
		      at      at     at      at       at      at      at
Executed Price       $40     $21    $20     $12      $1.00   $2.00   $3.00
Transaction Value   $4000  $21000 $100000  $72000     $200   $2000   $9000
--------------------------------------------------------------------------
E*TRADE DAY TRADE      20     20     20      65         29      38      73
E*TRADE Standard       25     25     25      70         29      38      73
--------------------------------------------------------------------------
ACCUTRADE              48     48    150     180         35      45      95
WATERHOUSE             35    116    331     302         33      49     122
OLDE                   40    125    325     375         40      65     165
QUICK & REILLY         49    112    205     210         41      61     121
PCFN                   60    140    200     172         40      53     110
SCHWAB                 55    146    265     234         41      61     189
FIDELITY               82    147    265     234         38      61      87
MERRILL LYNCH         162    682    761     988         65     144     373
==========================================================================

	* Typical rates based upon June 9, 1994 telephone survey.
	Some firms may offer volume or other special discount.

--------------------------------------------------------------------------
    Funds and/or Securities Required in the Account to Place Orders.  New
    Accounts will be insured to $10,000,000 (Protection available to
    $25,000,000)

	    MEMBER NASD, SIPC

    No "Per Order," "Handling," or "Account Maintenance" charges.


TELE-MASTER TOUCHTONE MENU

    PRICES
	Stocks, Options, Market Summary, Portfolio

    ORDERS
	Stocks, Options

    ACCOUNT STATUS
	Equity, Balances, Available Funds*
	Buying Power*

    MESSAGES
	Executed Order Reports

PERSONAL COMPUTER MENU

    PRICES
	Stocks, Options, Commodities, Overview Download Prices, Composite
	Price Watch**
    ORDERS
	Stocks & Options
    ACCOUNT STATUS*
	Available Funds, Buying Power, Equity
    PORTFOLIOS
	Detail, Summary, Unrealized Gains & Losses
    RECORDS
	Orders, Transactions, Tax, Trading
    INFORMATION
	E-mail to & from E-TRADE, Symbol Lookup, Executed Order Reports
    ANALYSIS
	Data Transfer, Historical Data, Black Scholes Options Analysis
    NEWS
        Dividends, Splits, Earnings, Shares, Approximately 1200 News
        Stories Each Day from 26 News Wires, 90 days of historical news

	*   Being implemented
	**  Your select list of stocks, options and/or commodities, for
	    quick quotes