Direct Access Shakeout

Discussion in 'Retail Brokers' started by Cdntrader, Feb 3, 2002.

  1. I just noticed that ET has 75 brokers listed. I think it would be interesting to speculate on who will and won't survive. Who's hot and who's not.

    Post your ideas!
  2. tuna


    Hmmm i've just been thru that list recently looking for a new broker and with what some of them are charging i doubt alot of them would be attracting many or any "new" customers.
    The changes to 2520 must have lost them alot of business as well.
    Probably a few good shorts in that list.
  3. cool lets go for about the following:
    Andover...gotta go..dodgy biz. anyone that advertises so much on here and doesnt get a mention in the forums must be struggling
    Noble, Daytrade, Daytrading Tech, Equity Station, Firefly. ....oh bored of this already....too many basket cases
    j-trader, as pats seem to be going to the wall...although i guess someone will buy them out...maybe IB to snub out the competition or better still MB/Terranova

    oh yeah...I'll also long hitmans commissions versus hitmans profits!
  4. Don't forget AB Watley..... they're stock price is diving faster than their number of traders.
  5. Jeffo


    Although an unpopular idea on theis site, I wouldn't be surprised to see IB go under sometime this year. The offering of the notes and lack of interest is troubling. I don't use them as a broker.
  6. Just a note on Direct Access Retail. The $25,000 dollar minimum for pattern daytraders has hurt the direct access retail business.
    .01 spreads & "bear" market has hurt everybody. Part-time
    daytraders have left the market and there is going to be a continued consolidation in direct acccess retail. Direct Access is here to stay even though times are tough.
    Jeffo , IB is part of the Timber-Hill group and they are well capitalized. IB is a small part of their business and I'm sure the
    low rates given by IB and order flow may be some factor in Timber-Hills income other than IB's low rates.

    Gene Weissman
    Lieber & Weissman Sec., L.L.C.
  7. well pattern trading rules definitely seem to be pushing the newbies towards prop firms so I guess prop firms go in the "what's hot" category.
  8. Htrader

    Htrader Guest

    Very unlikely. I believe IB was rated #1 in terms of financial stability by a major financial magazine recently.}&siteid=mktw&archive=true
  9. TNO-Mike


    Very interesting thread, many people I'm sure have wondered the same thing. With today's ever changing market conditions and with so much competition in the industry a firm has to be forward thinking, well managed, and either have or create a niche to ensure their success. Terra Nova Online has positioned itself well in these regards within the last year. Through extensive research we learned that traders were looking for both training on software and on trading. With this information we purchased software called Webex, which allows us to have real-time web meetings (basically we can share our desktops, so you can see what we are looking at or vice versa) and greatly assists us in both training and supporting our clients. As a member of our support department, I can tell you it has been a huge success thus far. To offer our client’s education on trading, last spring we formed a partnership with the Market Wise Trading School. Through our tuition reimbursement program, we are essentially paying our clients to learn from David Nassar and his associates at MarketWise. To top it off we offer the RealTick by Townsend Analytics, considered by many to be the premiere trading platform in the industry, and a web based software called the Terra Nova Investor. With these platforms we can support people trading who trade a few times per month to those who trade 20 to 50 or more times a day. On our website we state, “At Terra Nova Online, our mission is simple -- We want our clients to succeed.” With what we’ve none in the last year, by helping to train clients on our software, offering opportunities in trading education, and continuing to offer the best software around we feel we have done this. And with our trader’s continued success, we are confident this will lead to our success as well.

    Michael Garvey
    Client Services
    Terra Nova Online
  10. TNO-Mike
    you mentioned an upcoming webex session with Dave Nassar...can you tell me when that is. I'm a TNT client...have the webex, but couldn't find info on when the next trading session is. Thanks
    #10     Feb 5, 2002