From what I see on their website: http://speedtrader.com/margins_routingfees.php commission: 003 - 008 (per share plans) routing fee: .003 average platform fee: .001 a share on 1k shares, this is 24.00 round trip! please tell me i added something wrong. cm
Did you not see 14 free routes? I know of many professional traders who are getting special rates not advertised on their site. Did you see the press release about their volume. That speaks for itself. http://biz.yahoo.com/prnews/070504/to435.html?.v=15
I have been a client for five years now. I am happy with them. I have had accounts with many brokers during that time also but I always found them to be more straight up and their products and commission more than satisfactory. Besides my daytrading account, I also have an IRA account with them that is earning almost 4% money market interest plus dividends I gets from ETFs and Treasuries. I like that they keep adding more products and the fact that they are clearing with Penson makes me feel pretty safe with them. You should just open and test them for yourself. But I do suggest you try to negociate the rates first. Happy Trading!
I'm using cobra's IQ platform which is very much the same as speed's. Do charts take a while to load for you?..
Cashmoney, I am using the Dastrader software. I did try out the IQ software through them. The charts were excellent and I don't remember having any issues with the software. I switched to Dastrader because I wanted the ability to route to more market markers and ECNs. IQ had a limitation on routes and it was very costly to get the added features like realtime news and option quotes. IQ is not user friendly whereas Dastrader is very easy to use. IQ does have more Technical Analysis but the charting on Dastrader is not bad. The winniing point is the execution of trades. It is more cost effective and the choice of routing makes it better. It does appear though that Speedtrader is not the cheapest brokers on the software prices but then you get what you pay for.
I don't trade futures. But I am told by Speedtrader that e-mini's are available in Dastrader as well. I am able to see the level 2 e-mini quotes but to trade I would need to fill out a separate application and they would enable me in the software to trade that too.
guys! to check whose platform is faster just download both. open 2 windows of same stocks and compare the speed. everything is simple!=)
I think that is a sound idea except I don't have an account at the other broker to login into their system. And what is the point if the both brokers are using the same system, doesn't that mean that it might be hosting at the same location? Unless the brokers are running the system in their office. We need to determine where the systems are running. Most direct access brokers don't run the technology themselves. Any thoughts???