Im looking for a Direct Acess Broker. Is Datek a Direct Acess Broker like Cybertrader, TS6, MBT, etc ? Datek has some wierd small print disclaimer saying your not interacting w/the market place but through them but advertise direct in big print. The Rep said the dont recieve payment for order flow. hmmmm? Are you dealing direct w/the market with TS6, MBT, cyberx, etc or through broker? Thanks
Datek has some advantages - namely, it's cheap. But if you want to day trade or do any kind of "fast" trading you should stay away. Datek is web based and the refresh times will kill you. I'd recommend a direct access broker over Datek any day.
If you do decide to use Datek get Medved quote tracker to place your trades, charts, level I, level II, ect.... 10x faster. Medved is free at: www.quotetracker.com
The answer is no. Started with them and have found a world of positive difference going to a real direct access broker.