Discussion in 'Retail Brokers' started by qdz2, Feb 14, 2003.

  1. qdz2


    like to ask you opinions on mytrack.

    - is my money safe with them? financially sound?
    - is security bullet-proof?
    - fee? lots of miscellaneous fees add up? seems expensive as a DAB.
    - quote service realtime and accurate?
    - extensibility? export data? api need extra bulks?


  2. horseman


    I do not trade with Mytrack, but I have used them for my data feed for almost 3 years. They are tick by tick, very accurate and very little downtime; as good as any I have dealt with and better than most. Many there in the chat rooms trade with them. I have heard few complaints. CS is great.
  3. qdz2


    thanks for the info. i guess their trading and data watching platform is fantastic. how do you export their market data? i assume you have to pay extra bucks.


  4. alanm


    Quotes are generally as fast as anything that you're not paying $1K/month for, and reliability has been quite good - outages in realtime quotes are very rare. They have annoying problems with the supporting data (fundamentals, T&S, charts) more often, but still not too bad.

    DDE links to Excel are free if you have a trading account, and pretty robust as DDE goes.

    If you want to automate trading or do more involved things with the data, the java/ActiveX/C++ SDK is $25/month, and pretty robust.

    I traded with them for about a year after they started up and they were pretty confused. I imagine things have smoothed out alot. Best way to know is probably to download their software, sign up for the cheapest plan, and watch their chat rooms, where a lot of trading support is conducted.

    They clear through Penson, which is a pretty big and reputable firm, though their fees for IRAs are outrageous, compared to most other OLBs. Your money is probably as safe as it is anywhere.

    Their security is about average, IMHO. Most security issues, however, arise as the result of user actions (or inactions), and their exploit. Use hard-to-crack passwords, guard them, don't re-use them elsewhere, change them often, and guard your other personal information, and you greatly reduce your risk of ever being compromised.