SpeedTrader?

anyone here use SpeedTrader? I'm considering them, and want some feedback from other traders. In particular, has anyone here used their api to run a black box system?

 

SpeedTrader or Genesis? who would you trade with, and why?

 

Speed Trader for sure. An all in one application to trade anything. I've used them for over 2 years now. I've used the DAS Trader software for over 5 years now. Great rate that can be negotiated down based on cash balance. They also pay currently 4.25% on cash balances. Another good reason to use them.

 

I asked Speedtrader about Genesis today. They told me they can beat Genesis rates for anyone. Also they told me that there nasdaq connection is 5x times faster then Genesis ping time. They said they host servers in nasdaq's colocation.

5x faster, and better rates.

Genesis face after they read this :eek:

 

If you trade more than 1500 per month, that looks low comission,

Equity Trades Plan A

$2.95 per trade @ 1500+ trades per month
$5.95 per trade @ 1000-1499 trades per month
$7.95 per trade from 400-999 trades per month
$9.95 per trade from 1-399 trades per month

http://www.speedtrader.com/margins_commissions.php

But If you trade more than 1500 per month,you must trade around 70 per day.
So normally the comission for myself will be $9.95.
That is so expensive if compared with others low comission brokers.

 

Thats the sticker price. You can neg.
Most brokers is the same way car, boat, house, stock, futures, forex. If you don't neg. they you should pay the higher price.

It doesn't make a differents what's on the website if they are willing beat the competitions price.

on the link below:
We will do our best to to beat or match any of our competition.
http://www.speedtrader.com/gettingstarted_brokers.php

 

If negtiable, everybody do neg, then the broker must make different comission for each customer, that make them a lot of work to do caliculation and make papers.
Have you ever got any good result of neg?

 

I neg. with every firm i have ever talk to. Yes good results.

 

So if I have a big mouth and promise the world I get a better rate...where the quiet academic trader that does not care to negotiate gets to pay double, even if he "Really" trades more?

America...you gotta love it

Michael B.

P.S. Here is a novel idea.....Why not advertise your best rate and offer a service to everybody the same, instead of taking advantage of new clients.

P.P.S. Here is how another trader feels, progers82... http://www.elitetrader.com/vb/showthread.php?s=&postid=1202445#post1202445

 

According to data posted on both websites, Genesis is MUCH faster! Where do you get your info??