Discussion in 'Retail Brokers' started by marcoadolfo, May 12, 2001.

  1. I’m a Daytraders USA member.
    I write from ITALY and I am a Datek customer since January 2000. I planned since mid 2000 to try a direct access broker, i. e. Mbtrading recommended by many people.
    This month I bought my first PC (i'm a MAc user) + ADSL connection.
    Well, big surprise, Mbtrading stopped foreign account (as Terranova, Executioner etc.) thank to Terranova and clearing firm Istinet.
    Other day traders (e.g. Jea Yu) also recommend Cybertrader, but on the web i read a lot of terrible comments about this software and the Cybercorp servers.
    I don't want to make a big mistake: please can you help me to find a very serious direct access broker?
    I'd like to use RT III, but every good trading platform is welcome.

    Thanks in advance & Best Regards

  2. Baron

    Baron ET Founder

    Go with RML Trading which can be found at Not only do they offer RealTick III, but they also welcome foreign accounts.
  3. Here's a list of brokers broken down by platform used. Make sure the broker you use is going to be around awhile. Alot of these lesser known shops are losing customers fast in this market their viability may be questionable.

    It really comes down to what platform you want to use.
  4. Thanks for your help.

    About RML: the commissions are good, but the RT III fees are very high (200+ trades/m -- FREE).
    Pristine advises MasterTrader (for RT III brokers).
    What's about TradersClub? Or Lexit ? Or Pacific on line ?
    Fee and commissions are important for me, but the most important things are accurate quotes and "state of the art" servers. No delays, no frozen quotes.

    thanks and best regards

  5. mjt


    Just a few questions about your trading style:

    1) How many trades do you do per month?
    2) How many shares per trade do you average?
    3) How long do your trades last on average?

    Might help a little bit to narrow down a good broker.
  6. My trading style:

    1) 2-8 (i'm not a scalper)
    2) 500-1000 (22k)
    3) 5/10 min to several hours (flat to bed anyway).

  7. mjt


    If you're only doing a trade or two every week, I would think direct access software would kill your profits. Have you looked into Interactive Brokers? I'm not sure whether they offer trading in your country.
  8. tntneo

    tntneo Moderator

    you can likely use interactive brokers from Italy.
    Price is good and for your style of trading no problem at all.

    check them out :
  9. guidodf


    I'm an happy IB customer trading from Italy. Opening an account takes ten minutes on-line, and the whole procedure is taken care of in no more than a week.
  10. Sorry, i made a mistake.
    2-8 trades per day.

    #10     May 16, 2001