posted
"Best" tends to be different for each trader, but there are better choices than Scottrade for just about everyone. Which specific one would depend on the particular trading style, frequency, usual order size, and type of securities traded.
If usually trading less than 1500 shares at a time, then per share commission broker would be better. MB Trading and Interactive Brokers for example
For active traders (20 or more trades per month), CyberTrader also has either per share or per trade commissions
Posts: 46 | From: Austin, TX USA | Registered: Aug 2003
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quote:Originally posted by Jerry Medved: "Best" tends to be different for each trader, but there are better choices than Scottrade for just about everyone. Which specific one would depend on the particular trading style, frequency, usual order size, and type of securities traded.
If usually trading less than 1500 shares at a time, then per share commission broker would be better. MB Trading and Interactive Brokers for example
For active traders (20 or more trades per month), CyberTrader also has either per share or per trade commissions
great post.
I can say this: I am very close to pulling out of Scottie--like the basic layout and most feeds, but overall am dissatisfied. Already got second--larger--account with Choicetrade, which does *not* come free with feeds, but executes at least as quickly--plus, you get stops on pennies. Am looking hard at Lowtrades, with $14/mo "trading desk" that has L2 capability.
posted
ChoiceTrade - they may rebate the datafeed fees if you trade over a certain amount. Ask them. Lowtrades - can get $2.50 commission for QuoteTracker clients. That includes Level I quotes. Not sure about Level II. In general if you are an active trader (30+ per month), you can talk to the broker to get better commissions. That goes for the large OLBs as well as smaller brokers.
Posts: 46 | From: Austin, TX USA | Registered: Aug 2003
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posted
Cheaper is not always better as in the case of Lowtrades.. the old saying.. you get what you pay for should be applied... or Buyer Beware.. but i havent really heard much complaints about Lowtrades.. but ill stick to Choicetrade.com ...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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