In Brief

By Anamaria Wilson

FREE-FOR-ALL It had to happen. Eager e-brokers have reduced the price of trading to zero. FinancialCafe.com Freetrade.com (an Ameritrade offshoot) and American Express are trying to reel in new customers by giving trades away. And who are we to complain? Zero beats the $5 a trade that even deep discounters like Brown & Co. charge--but there are some conditions. What's next? Free toasters?

FREE ONLINE TRADING

Company The Catch

American Express Must have minimum of $25,000 in account Freetrade.com Limit and odd lot orders cost $5.00 FinancialCafe.com $16.95 + .01 per share for non market orders

DE-FRAUD Internet fraud, like Internet usage, is on the rise. The National Consumers League reported 10,660 complaints last year--a 38% increase over 1998. So, the FBI and the National White Collar Crime Center have just launched www.ifccfbi.gov a site where consumers can report any suspected e-fraud. The center will route your complaints about anything from fraudulent investment offerings to failure-to-render scams--such as paying for goods that are never received--to the appropriate state, local or federal agency, even to international branches.

FUNNY FUND NUMBERS Dreyfus Corp. is paying out $3 million to settle allegations that it wasn't being up front with its investors about the risks of its Aggressive Growth Fund. Take note: managers eager to boost the returns of new funds may load up on IPOs, which can later tank. That's what the Dreyfus fund did, gaining 81.92% in its first year but then losing 5.94% its second. So be wary of funds with great rookie seasons; the second time around is much tougher.

--By Anamaria Wilson

12-month Return Fund Name Since Inception 2nd-year return Mosaic Focus 44.25% -8.08% Rydex Ret. Inv. 35.4% -1.51% Papp Focus 29.76% -0.54% DLB Growth 31.52% 8.97%

Source: Morningstar