Discussion in 'Retail Brokers' started by scottradeidiot, Oct 17, 2005.

  1. I opened an account weeks ago. But it's disapointing. Their NYSE stocks order takes too long time (sometimes a few minutes), even cancellation take few minutes. I mean sometimes. I thought it's the best brokerage in america. Can somebody recommend other better brokerage?
  2. IB endorsement in 3...2...1...
  3. This can happen with pretty much any firm on NYSE orders. It is part of the game and has to do with the orders going to the floor of the exchange. This Once in a while it just takes time to get accepted, executed, or cancelled.

    Nasdaq is all electronic and generally much quicker.
  4. Farside


    Stay away from Cybertrader. Their order execution is horrible. I will be switching to another broker.
  5. Mediocre order execution and routing can and does contribute to this problem, making it far worse than it needs to be. You can minimize problems with NYSE executions by avoiding Cybertrader.
  6. Toonces


    I wasn't impressed with CyberTrader's order routing for Nasdaq either.

    I'm currently trying Instaquote with RMLTrading. I'm getting good results so far (I trade mostly Nasdaq and generally use smart order routing.) I haven't placed enough trades to see how well they stack up to Interactive. And I don't trade NYSE that much. The only problem I've had so far is with frozen quotes in fast markets, but it's not nearly as bad as the frozen quotes I had at Cyber.

    RML has good rates too. If you trade enough volume, you can get below 1/2 cent per share. (Please no pms on this; you can find their rates on their website, and I really have no other information than I'm giving here.)

    BTW, Interactive is excellent too. Don't go with TradeStation if you trade Nasdaq and smart order routing like I do, but I can't comment on their NYSE execution. Also really bad frozen quotes.
  7. mktman


    Executions with Tradestation been fine here. No frozen quotes either.