Hi Guys, Found a broker, Alaric Trader that has a deal that is quite possibly the best I have found. I really like the structure, pricing, platforms, DMA, Routes etc... Here is the question: Anyone used them or know if my money is safe with this broker. I have researched extensively, but there is only one person who has spoken about them on here, was wondering if anyone knows for sure and has been able to deposit safely and withdraw. Would have done Tradezero, but there platform doesnt cut it for me any onther non-pdt brokers have bas deals/comms in comparison to Alaric, they seem to be the best..if they are safe and reliable that is. Help me out -> THX!
@Bizmark Alaric is a regulated Broker. In business for plenty of time. Client Assets are kept separately as per MiFIDII compliance. Alaric is mostly for professional traders who need good stock borrow, fast order-entry systems and reliable market data. Alaric does not sell its order flow and you can do self-directed routing. You can have not only DirectMarketAccess routes to the exchanges but many DarkPools and algo routes as well. IB does not compare to Alaric. We are very different animals. IB is a retail broker in its fibre, albeit a very good one at that.
@cruisecontrol I am not sure you are correct. Alaric is geared towards professional traders and as far as commissions go, Alaric offer is quite competitive. The issue here lies in that with Alaric, you have plenty of true active-trader tools: good stock borrow, self-directed DMA, DarkPool and Algo routing + Alaric provides better tiers and rebates on many of the exchange costs. IB is great for beginners and "proof of concept" trading but cannot compare to the service and goodies you get from a professional broker.
IB supports every single one of the "active-trader" tools that you mentioned, in addition to having lower commissions. I am not a shill for IB, in fact I am looking to leave them for a variety of reasons. But please keep your claims factual. If you can, please go in detail on which metrics Alaric is superior to IB - many will be interested. You should put this on your website as well.
From your shared screen I don’t really see where you see higher commissions. There are a couple more tiers but I see same commissions across. On the more important comment: stock borrow with Alaric is not on a “first-come-first-serve” or “reserve” basis. You have it in available inventory, no need to request it; even if availability is exhausted, invetory ia replenished shortly and once yours, stays yours. Availbility of execution venues is uncomparable and this ia truly important these days when most liquidity has move outside the exchanges, especially in the selection of dark pools and alternative venues. Margin - needless to discuss. Not only from availability but also from ways margin is handled. You must know that there is no “courtesy call” with IB. Also - java trading platform, really? By the time order gets in, liquidity is gone. I can go on but I think I have given you plenty to digest. Don’t get me wrong, Alaric works with IB as well but only on Treasury operations. For aspiring traders they are fine. Not for pros who value liquidity and customized service.
I cannot find anything related to exchange fees/rebates from AlaricTrader. Can you provide one? Also, as per previous post about Alaric, how is the client's deposit secured? Listed under FSC seems not the same as listed under some US counterpart like SIPC, for e.g. how is client's deposit protected when brokers disappear. Also, software Sterling LST seems identical to the software used by Lightspeed/Lime, including the trading server address. Not sure if there is any relation between you two, something like franchise, sub-brand(?).
@orion504 Exchange tiers and rebates are dynamic as they vary based on total volume for the month, hence your guidance are the tiers published by the exchanges themselves. The important thing is that when you trade passively (i.e. "add liquidity"), you receive the exchange rebate back (if the exchange provides one). As for Sterling LST, yes, this is Lightspeed (hence the LST). No relations between Lime and Alaric - we just licensed the software as it is a tested and reliable solution for active traders.
Thanks for your info. So basically AlaricTrader will not charge more on top of ECN fees or keep the rebates, in the other words, exchange fees are passed-though, right? Most brokers provides waive for platform fee if some level of monthly commission is matched, do you provide the similar?