Anyone has experience with DeepDiscountTrading.com ?

Discussion in 'Retail Brokers' started by Peternam, Jan 12, 2011.

  1. I called them and the owner name is howard lender. He started his brokerage last year. It's brand new. In my opinion, it is very risky to open an account with a brand new brokerage. The odds are higher howard lender may go bankrupt especially offering dirt cheap commission. I don't know how howard will make money. As i looked at his website, it looks horrible. Obviously, he doesn't have money to put up a Professional website.

    All in all, i would stay away.
     
  2. moarla

    moarla

    well, on the homepage there is NO adress no impressum, no nothing....
    no indications what clearing, what bank,no nothing....


    that can be only a deep bullsh.....
     


  3. I don't think it is risky because your money is with the FCM not with Howard in case of bankruptcy ....
     
  4. Ok howard whatever u say. If deepdiscount goes bankrupt, it takes time to find another brokerage and at the same time, your trading is suspended. To save time, it is better to find a well established brokerage
     
  5. --------------------------------------------------------------------------------
    Quote from Peternam:

    I don't think it is risky because your money is with the FCM not with Howard in case of bankruptcy ....
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    I looked at the website. It has all the information one would need. The clearing FCM who will hold funds is Crossland who has guaranteed this firm as an IB. Brokers now days do not make money on commissions but on interest on funds held. How can a brokerage become "well established' if investors/traders will not use new brokerages? Howard Lender became first registered on 10-20-1995 with only one reparation claim filed on record. All of this information is available on the NFA website: www.nfa.futures.org/basicnet
     
  6. My account with speed trader will be funded tomorrow. Very cheap broker fees. No minimum shares for trade. Clears with Penson. Service has been great so far. Simple and easy to use platform. In business for 11 years.
    When I asked about them on ET, I got no reply. Sounds too good to be true.
     
  7. I have an account funded with Howard, I have send my money to Crossland who is 4 times bigger than Velocity for example.

    Velocity : net capital 1.684.448 net capital required : 1.000.000
    Crossland : net capital 7.765.752 net capital required : 5.938.028

    Meaning, crossland is much bigger, and they have more excess net capital.

    You guys should know what you talk about. Howard is a trader and gives top notch service at an amazing discounted price.

    You guys are all so full of shit, that's why I just love this site so much.
     
  8. alright howard. It is obvious you are peternam, chartman, and tradermetal. This is a sign you are desperate for customers.

    Good Luck Howard
     
  9. Is someone supposed to ask Howard who. Or are all you guys too young to remember that one:D
     
    #10     Jan 12, 2011