I am demoing their software now too. I had the same question regarding their delayed quotes, customer service told me that demo mode is exactly 5 seconds delayed. The reason they said it was delayed was because they did not want people using demo accounts for level two quotes, otherwise users will have to pay level II fees. I am also demoing accesspro also. their quotes are not delayed but their software uses a whole lot of bandwidth on my computer because of that i cannot use any other software. it creates too much lag. accesspro looks cool but does not have as many features, as far as execution and speed. direxpro has a great feature where you can hit all the ecn's in one keystroke, and the system will route the order automatically. i have not seen that feature on the watcher or firstlevel, either. i would like to see how fast this feature is in real-mode. this would be great in hitting things in and out. i am also trying nextrend for charting, does anyone have anyexperience in that? RT is way too costly. thanks hans
This may be a question for daytraders or anyone else. After using a few different routing options I wonder if I am missing something. One, Island seems to be the fastest but the liquidity searching ecns seem to be the way to go. So why would anyone not just route to redi or redi ecn only. Or perhaps second best arca or arca now. two- if you are going to redi or arca why do you say poindirex would be faster than anyone else to redi or arca, are we talking about server loads, connections etc? For instance I used the redi platform (until last month we cleared through first ops/slk) and I wonder how poindirex could have better access than I had to redi and consequently other ecns. By the way my firm no longer uses the redi platform, (so I am not pimping it) -- we dropped the redi platform but I will say the redi ecn executions were very fast and I have trouble believing anyone was faster. But if it can be faster I want to know how to do it. thanks
THis is a great question that is difficult (for me) to answer. But first off, I can tell you that the Point DIrex "direct" ECN route is no doubt faster than using Redi or ARCA on RealTick because I have tested them out side by side. I have thought alot about this actually because I had the same questions. How could PD or anyone else have "better" connectivity to the ECNs than Redi (owned by GSCO etc.)!? In actuality, I don't think they do, though PD has direct connections with more (8 of 9 I belive) ECNS than Redi plus. However considering most of the liquidity you will access via ECNS will be via ISLD/ARCA/REDI, one has to question the real value added of a direct connection to, for example, Market XT. So my conclusion was that it comes down to the way the software is designed, though I know nothing about "code" so this conclusion is conjecture only. All I can tell you is that I programmed a hot key in realtick to buy the offer via ARCA, and when I would execute it (with ECNS at the inside offer obviously) at the same time as hitting my buy ECN hot key on PointDirex, the PD fill was faster no doubt. It "felt" like it took just a second longer for the Realtick order to go live, after which it was filled very quickly, whereas the PD order was filled literally before I could even lift my finger off the key itself. So again, I can not give you specifics, I can just tell that it is definitely a big advantage if you trade a lot, aggressively, (scalper etc), and/or find yourself missing shares that you saw on the screen when you went to execute the order. The folks who are getting those shares that you are missing IMO are people like me who trade on the PD platform and ones like it (Watcher, Sonic, etc). Hope that helps.
This web site is amazing. I just received my new issue of Active Trader and caught the ad for PD, and don't you know we already have 3 pages of intelligent questions and answers. OK. At the risk of changing that theme. Does PD have the ability to use Market Stop orders? Also, are they web based or direct access?
THe current version does not support stops however the next release, scheduled I believe for later this month, will support stops. Direx pro is a stand alone (not browser based) platform installed on your hard drive and provides the fastest Direct Access capabilities I have ever experienced. PS Still waiting for my Active Trader issue!!
Has anyone used their Level One product that is out on the market now? DATtrader, you are using their product. I am testing their Level I simulator and the pro product. It seems very promising, specially the price, the best I have seen so far. Level One pricing seems to be good if it is all Direct Access, with good speed. I would consider better than IB because they have real-time charts, real-time indexes. www.pointdirex.com Anyone using their Level One product, please provide some feedback? Thanks Hans
point direx in orlando is offering up to 90% payout if you put up some of your own money, you can trade there with their traders and the commission is low