I am a positional trader considering going from Ameritrade to Freetrade. Does anyone know whether you can place orders on ISLD or ARCA? [/QUOTE] They have direct access, they use Ameritrade's software. You can place order on island or arca. One would wonder why would you use arca to begin with, but that's beside the point.
Their opening account size is larger than other full service brokers, but $5k is not a large account!