I am an active trader who trades 5k share lots of the Q's everyday 10-20 times a day. I am currently using schwab trader for the $10 per trade fee since IB or any other per share outlet would kill me in commissions. I saw Sogo's $3/trade and zecco's free trades. I was wondering if anyone has any comments on these firms, specifically execution speed or anything else an active trader would need. Thank you
yes, genesis has a per share fee which does not work with my trading sytle because it is too much per share.
i heard they will match or beat another broker . I wondere if that includes themselves? do those other brokers include the ecn rebates? never heard of zecco heres the chain zecco owned by- { Equinox Securities Liimited} -owned by {Equinox Capital Limited} out of london and auckland ,nz
Zecco is sooooooooooooo slow, I can hardly stand to use their website. It's also quite laborious and slow to setup ACH deposits and withdrawals with them. Probably better to pay higher fees somewhere else, until Zecco gets the bugs worked out of their system or goes out of business.
At Zecco only the first 40 trades each month are free, after that it's $3.50/trade. I've been trading with them since the beginning, but not as an active trader (i.e. less than 40 trades/month), and am quite happy so far. Other brokers you might be interested in, with low per-trade commissions, are MB and RML.
If you are doing VERY rapid trading, Sogo may be too slow as they have a trade window then a confirmation window. However Execution is VERY FAST after you hit the submit button. Most market orders I place are executed by the time the page refreshes (Firefox tells me as fast 2-4 seconds on refresh.) Otherwise, they are a very nice low cost brokerage. Customer service is slow (but that isn't their claim to fame.)