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   Brokers ›› Ratings for Swift Trade 

Swift Trade
33%     67%
(6 Votes)
 
Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability


  1 - 5 of 6 Next 


  "Best value for the money." - swiftmike99June 06, 2006   10:41 AM  
 
Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability


The software is highly customizable, good for credit trading or NYSE trading. Really slow for Nasdaq and anything else like CME. The execution fee is the best of any company out there as they do make money out of people being good traders instead of commisiions. Great place to start your trading career if you don't have a connection or the degree to get into another trading company.

  
  "mickey mouse operation" - GGSAEMarch 20, 2004   4:39 PM  
 
Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability


If you've never traded before, go here to learn - then leave after 6 months.

  
  "Great place to start your career" - dnaj65000May 18, 2003   1:43 PM  
 
Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability


As a Canadian university grad looking to start a career as a professional trader, I recommend Swifttrade as a great place to start. This is where I started (Vancouver office) and the education I received was well worth the 3 months I spent there without pay. There's no doubt in my mind that the fast pace momentum scalping at Swift propelled me through the learning curve 100x faster than trading from home. I traded between 200,000-350,000 shares a day on about 400-600 trades. With that much volume, you can't help but learn the markets.

Here's how/why I rated each category:

Quote & Execution Speed: 4 ProsperPro (their prop software) was simple and once you learn the hotkeys, execution was lightening fast. If you hit the bid/buy the offer off any of the ECNs expect an instant (.2sec) fill. There's no typing, no mouse clicking, just hotkeys. It's efficient. I didn't rate it a 5 because sometimes, the system would hiccup and we'd get a grey box that froze our system for about 30 secs. Also, at the time I was there, we used Q-Charts that had some data delays.

Range of Services: 1 You are a specialized Nasdaq scalper of one, maybe two stocks. That's it. You're in or you're out, no holding stocks for 15 mins, no diversification.

Training and Tech: 3 I had a great mentor who taught me a lot. Tech support was poor when things went down. This rating will vary from office to office.

Commiss & Fees: 5 I didn't have to provide any capital, plus they didn't charge any commiss or desk fee, also no charge for bullets. Only thing I had to worry about was ECN fees (that everyone pays) and the SEC fee (that everyone pays). Of course, when you're momentum scalping, I did pay a lot of ECN fees for taking liquidity away.

Reliability: 3 Not much to say here, they're average.

Bottom line: Great stepping stone for the new trader. Maybe you'll fit what they're looking for and can make a paycheque out of it, but if not, you just got the equivalent of $5000US worth of training for free.

  
  "you need to avoid this place" - SilverBulletSeptember 27, 2002   2:07 AM  
 
Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability


considering they dont reallt have any clients anymore, they pass the buck down to the proptrader,,,

  
  "Hahaha, nice 'execution' system" - SilverBulletSeptember 19, 2002   7:46 PM  
 
Quote & Execution Speed
Range of Services
Training & Tech Support
Commissions & Fees
Overall Reliability


Dont even bother

  
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