I am doing some research in order to find the best ReaTick broker. TerraNova seems to be the best for executions, but their fee structure is not that great. I am also looking into JPR Capital who, no the other hand, seems to have great fee structure Does anyone have more information than what is available on the broker rating section regarding these two brokers or other companies that use RealTick?
Thanks Babak, I have the list of brokers who use RealTick, but I would like to find sombody who has first hand experience with them, especially TeraNova and JPR Capital.
I have mastertrader.com which belongs to Pristine. You can get lot of free/discounted Pristine education/service from it.
I have Terranova and IB - and I exclusively use IB (unless they go down) - can't beat commissions, and fills are as fast, if not faster. Terranova is my fail safe now, until they figure out no one wants to keep spending $15 to make a trade, plus ecn fees on top of that.
Actually, I have had experience with IB and I think they have horrible executions. Who cares about low commissions if they give you terrible executions? When I have used stop orders I have been filled very far from the stop; when I have used stop limit, they either filled me at the limit or they did not fill me at all. I am surprised to hear that somebody is happy with IB's executions!!
I have an account at JPR. I have had this account for more than 3 years. No problems with JPR. If I were looking to open an account with a broker offering RealTick, I would look at JPR and MB Trading. Both of these do great but have an order ticket charge. JPR might set you up at one cent per share if you open the account with a few hundred thousand dollars. I also think IB has by far the best trading platform (this is especially true for larger accounts). It would be great if IB would offer its customers the option of RealTick. Catoosa
Catoosa, Thanks for the info. My main worry is slipppage because my trading system works on a short time frame (1 to 3 days) and I need good fills in order to make money. Is JPR good with slippage? I agree with you that IB are fairly fast but their slippage is huge!!! What do you mean when you say their platform is the best?
what exactly do you mean by slippage? when are you placing the order to buy / sell? are you placing it before the stock gets there, or when the stock is at your price, by hitting with a market order? IB and Terranova, or JPR or whoever uses direct access should give you the same exact fill - I don't know why there would be any difference. People like Terranova because their uptime is like 99%, but their routing systems are no different than IB's, and I can daytrade with IB, so I couldn't understand why holding for 1-3 days would concern you. Go with whomever gives you the best comfort level, but I don't think slippage plays into it - IMO