Discussion in 'Retail Brokers' started by hans130, Dec 23, 2001.

  1. hans130


    Looks like there is someone new in DAT. They now have 1.2 cents per share. Does anyone have any experience with them as far as service, support, software, execution? are they for real?? they have .0075 and 1.2 cents pershare. i dont understand why they have two sets or prices. what about their connectivity? and software reliaibilty? i am right now using real-tick and watcher. they are great software platforms.
  2. Hans,

    I trade with PointDirex. The difference in the .0075 vs. 1.2 cents per share fees relates two the two platforms currently available. THe one for 1.2 cents is a level one platform with direct access and proprietary smart order routing technology. Since PD finds liquidity for you via the smart routing, different sources of liquidity will be accessed depending on circumstances. The 1.2 cents is flat and includes all ECN fees etc., that PD will incur to find the liquidity.

    The other platform is the more professional DIrex pro platform. It has separate pass thrus for all the ECNs and SOES etc. THey have direct connections to 8 of 9 ecns. This platform is very similar to Watcher (even looks a lot like it) so you will recognize this technology. It has been around for 3 years or so, but like the watcher, was previously only available on PD trading floors. In November, they rolloed out the internet ready version, which is what I use. Considering it is a new platform in terms of being available over the web (my understanding is that even though it looks the same as the original, the fact that it was made to work over the web meant re-writing much of the code), it is remarkably stable. I have no complaints whatsoever. I also use RealTick still for charts etc., but Direx Pro for executions is simply amazing.
  3. hans130


    Thanks for the info. Right now i am using wathcer for execution and realtick for charts. watcher is fast and reliable. right now my commission is pretty high, i would like something better. realtick charges 15-10 per trade. watcher charges 1.5 cents per share. pointdirex goes as low a .0075. that is the lowest i have found. i am going to try the simulator. i would like to know the features it has and is it comparable to watcher, as far as execution. do they have order routing?? i have been looking into sonic and firstlevel, but i dont believe they offer it on the internet also i dont think their commission are as cheap either. this direxpro seems similar to these three platforms. just curious as far as quote speed and exections and features. if you or any knows about this please let me know.

  4. Don't forget the .01 a share for listed with one software program
    0.015 for the other platform

  5. Hans,

    I have traded on Watcher, Sonic, and PointDirex. All three platforms are very similar in execution features. PointDirex is every bit as fast if not faster, though I would honestly put them all right there with each other. I believe that both Watcher and SOnic have internet ready versions of their platforms as well, though I have not tested them. When I traded on those platforms it was on one of their floors. PD is also releasing a new version of Pro in the near future that will have much more customizable features to it. I have played with the beta version and it is pretty cool.
  6. Hans,

    I have never heard of 'first level.' Who offers it and where can I find the url? Thanks for your help. Also, does anyone know what happened to the Watcher? Their site has disappeared. Do they still offer software?

  7. hans130


    This software is provided by tradescape. Good platform and fast executions.

    I am surprised the watcher website is down. i heard that now a lot of firms giving up the watcher for other platforms. Sunstate equity trading does not use the watcher anymore. i believe they have switched.
  8. Hans,

    Thanks for the info!

  9. mjt


    I'm demoing their software right now. I'm getting about a 5+ second delay in level 2 quotes. Maybe that's intentional since it's a demo, but if not, that's the longest delay in quotes I've ever seen.
  10. I have Realtick running on a seperate box for charts and use PointDirex for execution only. Both boxes are connected to web via cable modem. My PointDirex L2 quotes usually lead the RT quote by maybe 1/3 of a second....not significant I realize but they definitely do not lag. I wonder if they use different servers for the demo as you indicated. I will try to find out.
    #10     Dec 28, 2001