Anyone here trade with alliancetrader? Im considering trying them out due to them allowing you to daytrade with a small account. I have heard that their commissions are high, but from glancing at their site, am I right in thinking that on "plan B" you can trade at 1c per share (which woul be fine for me) Im looking at just trading 100 share lots to learn the ropes. Feedback from current customers especially welcome.
I have been using them for about a month so far and have been happy. The only thing is at high volume times the platform is a little screwy,but that seems to occur with everyone I have tried. Scottrade was the worst,in a high volumn enviroment it is impossible to trade with them.
I agree and that worries me too, I am hoping I wont have trouble getting my funds back from them. I am thinking more and more just to go with forex trading anyway and get away from stocks completely. You bring up a good point and I feel uneasy about that.
bumping this thread back to the top. Is there any more feedback from you guys? Do they route directly to the NYSE and Nasdaq? Has anyone had any trouble getting their funds out? Any hint at all, such as having to call twice or anything? I notice they claim to service high net worth clients too, so that makes me wonder why they would get into the direct acces biz that would allow even a piker like me in with them.
So far I cant complain, I have always received wire requests in a timely fashion, and the executions are instant and prices arent too bad. I am an option trader and I usually use market orders. Only once I got a bit of a bad price. I cant complain about anything except the high platform fee. If the platform was better I could see it but I am not happy with the charts. I plan to ask them just what comprises the most expensive versionof their platforms they have several option and I cant see the advantage. I am considering using the cheaper version of their platform or eventhe web trading platform and use a seperate chart provider. Other than that if you like instant executions and so far a pretty reliable platform they arent bad at all. Again on the charts they arent poor just not enough time is viewable in anyting other than the daily charts. U can see maybe 4 to 6 days at a time. For fast day trading they are fine.
If you are willing to entrust your money with Alliance Trader, then why not just put your money with one of the retail prop llc's? I can't imagine that your money is any safer with Alliance Trader than with these retail prop llc's. They will give you more leverge and lower commissions.
Double checking to see if I have this straight: For trading the E mini, I can use the basic platform DAS Trader WEB, and the platform is free. The level 1 Emini data feed is $15 per month. The ticket charge, or commision, is $4. Any other fees? This is the page I'm using as a reference: http://www.alliancetrader.com/commissions.html
Bumping this back to the top. Are they enforcing the US pattern day trader rule now? They no longer mention anything about it on their website and I don't see their ad on this site anymore. Wondering if they've changed. Maybe seeing the US govt hounding Swiss bankers has made them nervous...