Discussion in 'Retail Brokers' started by T3-Jeff, Sep 22, 2001.
Trade for .0029 cents per share??? If its that good, why isnt there any discussion about it.
How can it be good, when you have to pay membership fees + ECNs pass through.
Actually it's more take a look at the site. Plus clearing + software and a steep monthly fee.
It is quite steep actually:
monthly fees of $1000 and up (max $3000)
other charges up the wazoo (cancellation, one time setup, etc.)
Speaking of fees, this "firm" also charges $0.25 per cancellation plus other fees for SOES and SNET orders. The top membership fee is $3000 per month, although you get reduced amounts for referrals. Any site that gives you refunds for referrals immediately sounds very suspicious to me.
BTW, this is an instatrade office. i guess his business is really drying up and this is his way of trying to drum up new suckers!!! can you say Bucket Shop???!!!!!!!
Sounded a little too good to be true!! Anyway, thanks for all of your input. I'm new to this site and find the discussion area extremely helpful.
Any thoughts on a firm that has very low rates for someone doing 100,000 a day?
How many trades a day?
I use www.cybertrader.com pro version and if you do 500+ tickets a month the price is down to $9.99 a ticket with no ECN charges on ISLD and a couple of other ECNs.
The site says NAET is not a broker-dealer? Who do you trade through then?
...and for NYSE, they charge you:
$1000-3000 per month "membership" +
.0029-.0047 per share clearing +
$1.25 per trade or .00175 per share for software +
.003 per share execution +
one-time fees +
equipment charges +
who knows what else
Do they think people are retarded?
Separate names with a comma.