Annual Brokerage Firm Survey Changes in Grading |
Investing - Investing Articles | |||
Written by Hugh McManus | |||
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GRADE CHANGESThis submission details changes in the grades to firms in this survey. Grades are reviewed at least quarterly. January 14, 2012MerrillEdgeAn online chat took place with a representative at MerrillEdge. Answers to the questions were obtained. The product appears to fit better among the B grade brokers, all of which are legacy discount brokers. If anyone has personal experience with MerrillEdge, I’d love to hear about it. SureTraderSureTrader, a division of Swiss America Securities, Ltd originally received a failing grade, which now appears to be overly generous. The company will continue in the survey but remain ungraded for reasons disclosed in the discussion section of SureTrader. tradeMONSTERMore information was obained for tradeMONSTER, as a result, this company should be moved from a D to a C grade. TradingBlockMore information was obained for TradingBlock, as a result, this company should be moved from a D to a C grade. BUYandHOLDAfter digging through the website some more, more details were found on the two plans offered by BUYandHOLD. The D grade is now affirmed. Using the criteria of this survey, BUYandHOLD does not seem to be a good choice for long-term, cost conscious, buy-and-hold investors. January 23, 2012ZeccoOn Friday, January 20, the Zecco trading platform had a major outage that appeared to last for several hours. This event was not the first time that Zecco has had performance problems. Zecco seems to offer a less reliable service when compared to other shallow discount brokers; as a result of these problems, Zecco has lost a letter grade and now receives a D.
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