Anyone ever hear of or trade through Marsco? They're offering $3.95 trades.

Discussion in 'Retail Brokers' started by Marc to Market, Aug 29, 2006.

  1. Seems like they're a new broker and $3.95 trade without any restrictions sounds enticing. I just want to make sure it's legit before I open an account with them.

    Thanks for any info.


  2. This may be good enough for a few trades per year here and there to buy/hold with but it is not a direct access broker, just an "e-mail into our trading desk" type broker like Scottrade - they make their money by taking the other side of your trades - it's called SLIPPAGE. Especially during fast markets.

    If they hose you for .01 or .02 per share on most trades, they make a lot more money than if you pay a decent direct access broker by a per-share cost (IB, Tradestation, MB, CYBER, etc.)

    Plus look at the fee schedule - above average for everything else, especially options and mutual fund trading fees
  3. amm


    I am not an American and not living in America.
    Can I open margin account there?
  4. hahaha Marsco...they used to have the best commercials on cnbc. I had memorized the entire compercial. It was like it was made on powerpoint...
    "Call Marsco discount brokers, only 25 dollars a trade"

    They must have gone online i guess
  5. amm


    slapshot, What do you mean the sentense?

    they make their money by taking the other side of your trades - it's called SLIPPAGE. Especially during fast markets.
  6. Not "new" FWIW.

    Legal Status CORPORATION
    State/Country of Formation NJ
    Date of Formation 09/03/1986
    Fiscal Year End DEC

  7. sprstpd


    As a hypothetical example, if you are bidding they won't fill you unless the current national offer is at the price of your bid (or worse). So they only fill if there is some assurance they will make money by taking the other side.

    I am not saying this particular firm does that, just giving you an example of why using limit orders might not protect you from slippage.
  8. amm


    I could not find the password change place in website?
    Can customer change log on password in the website?
  9. sprstpd


    I'm glad that you are so optimistic. Good luck to you.
  10. amm


    Can anyone call to them to ask the following,

    Can customer change password themselves?
    I live, work outside america, and I am not an american.
    Can I open margin account?

    Their TEL is toll free 800 962 7726

    I am foreigner who are not native english speaker,who live
    outside america.
    #10     Aug 29, 2006