Looking for a good retail firm

Discussion in 'Retail Brokers' started by Nofear777, Jun 6, 2008.

  1. One with..

    A good order execution system.

    No monthly overhead charges just to connect to their system.

    FDIC insured.

    This account will not be a daytrading account and most stocks will be held weeks at a time. It will be a joint account, I will not need any leverage.

    I guess I can use Ameritrade but their website can't handle heavy loads of traffic.

    Anyone? Please help . Thank you.
  2. Tomato


    I am a fairly active ES (emini s&P) trader doing about 30 RT's a day.

    I am looking for a broker that offers Ninja 6, prefer Zenfire.

    I have been looking at AMP, but I am a little concerned seeing the post on this site that are from a sale's guy posing as a trader...I have also read some customer service complaints on this site.

    I am considing Velocity..but pretty sure they don't have Zenfire and not sure how much of a difference that will make.

    I am also looking at Mirus and waiting for a quote from them.

    I want to pay as little as possible for RT, but also want a very good outfit with outstanding customer service, low intra-day margins and finally, solid and super-fast platform performance and execution is most important to me.

    Any suggestions would be great. I am in Minneaplis area and have about $20k to deposit for this account if that helps. I do hold overnight from time to time, but mostly keep it intraday

    Thanks -
  3. bump
  4. No brokerage firms are FDIC insured.

    Schwab and Fidelity are solid firms for intermediate term traders and buy and hold types.

    If you have a sizeable account it would be worthwhile to use Interactive Brokers and pay the minimum $10 monthly fee for inactive months.
  5. Dale Box

    Dale Box Velocity Futures


    Thank you for your interest in Velocity Futures.

    If you'd like a free Ninja/TT sim account please let me know.
  6. Thanks for the response. Looking into this.

    As far as retail accounts not being fdic insured... I am pretty sure they are. Ameritrade is.
  7. FDIC is for banks. No broker is FDIC insured. SIPC is for stock brokers.
  8. I think the confusion arises because some brokers like ETrade have bank subsidiaries and they transfer your cash balance into an FDIC-insured account each night. Of course, you get a lousy interest rate, but you are FDIC insured, at least to their max of $100k. SIPC insures brokers but only to a max of $100k for cash I believe.
  9. birdman


    Hmmmmmmmmm - are you sure - noone are perfect but i doubt you will have more troubles along this line with Ameritrade than others.

    If you are holding weeks at a time i would go with Ameritrade or Schwab. I kinda like the new SoGoTrade but not particularly for longer holds.

    One of the most respected guys on this forum uses Velocity. I don't trade futures but if i did i wouldn't need to know anything else about them.

    When steve tvardek speaks birdman listens.
  10. ...and what do the best like to use with Velocity?

    Ninja? and/or ?

    I'm seeking tool & feed recommendations.
    #10     Jun 20, 2008