Introducing Brokers for Wedbush clearing

Discussion in 'Retail Brokers' started by western, Jul 20, 2012.

  1. western


    Can anyone provide me with names of introducing brokers that clear through wedbush securities? I'm looking to open a retail account.

    I currently only know of capstone and legend securities.
  2. 1245


    Why Wedbush?
  3. western


    They are one the few(only) independent reputable clearing firms that cater to daytraders.

    Penson/apex is too unstable imo.
  4. Why is the clearing agent so important?
  5. 1245


    Apex is still 94% owned by Penson. Besides that Apex is being run by Peak6 and has made many changes. The most important to you is that they have more cash, very little debt and APEX has no trading desk. I'd rather be at APEX.
  6. why not wedbush? does anyone know any brokers that use wedbush? i'm interested in looking at their offerings too
  7. gaj


    +1 to the OP's post, i've got the same request.

    maybe lime? don't know if they're still around or open to individuals. i only started checking today.

    thanks for any information that can be provided.
  8. Yeah, Lime is no longer independent as Tower sold Lime to Wed.
  9. iqtaa


    Yes correct, it's Lime. It will be very difficult to get better automated execution services than Lime offer. They provide rocket execution and great FIX API.

    But there are few drawbacks:
    1) minimum deposit amount is very high
    2) u have to collocate your server with them
  10. I received an email that Cobra Trading has recently signed a clearing agreement with Wedbush. Looks like a great option to get away from Apex. I'm going to look into the switch.
    #10     Jul 30, 2012