Genesis 90% IB 80%

If Genesis is really as good as 10 of 11 posters say it is, then why aren't there many more posters touting this firm.

 

I think that IB is a very good of jack-of-all-trades kind of firm that meets the needs of a very wide variety of traders. As a result, they have many satisified clients. Through IB, you can trade U.S. stocks, U.S. futures, currencies, foreign stocks and futures, basically anything you could want to trade. Also, IB is a very competent firm that is generally very good at the services they provide.

Genesis, on the other hand, is a much more narrowly focused firm. You cannot trade futures, currencies or foreign markets through Genesis. I don't believe foreign residents can open Genesis accounts. Genesis is primarily focused on serving traders that trade the U.S. stock market (NYSE, AMEX and Nasdaq). In this area of focus, Genesis is among the best firms in the business (if not THE best). Genesis has virtually unmatched execution speed, and a huge selection of routes through which to send your orders. They also offer excellent pricing for volume traders, making them an excellent firm for black box trading.

In short, I think that Genesis has a smaller pool of potential traders, since they are more narrowly focused. As a result, you hear less about them here on ET.

-Eric

P.S. In terms of disclosure, I have been a very satisfied Genesis client for over 3 years. I don't believe IB can adequately serve my needs, but I know many fellow traders that are extremely happy with them.

 

I've opened and closed two accounts with them because of their poor customer support.

 

What's the typical commission rate at Genesis? I am a retail trader and I traded only 100,000 shares per month in an account which I plan to switch (now in CyberTrader). I asked a Genesis representative before. He told me the rate is about $0.005 per share. In my opinion, this rate is not competitive at all (comparing with IB or CyberTrader) because Genesis charges $200 software fee per month. Everybody said that Genesis has a wonderful trading platform. Because I cannot see a demo version, it is impossible for me to know whether the platform is good for my needs.