Just to clarify, although I don't trade NYSE frequently, I am almost certain that Genesis has stop loss orders available on NYSE stocks. As far as Nasdaq stocks, Genesis offers every single order type and order variation supported by Nasdaq (which is why the always have Nasdaq Platinum rating for order entry firms) => Very few other firms do. However, <b>Nasdaq</b> does NOT support stops, so neither does Genesis. Other firms do offer their own version of stops, held on the broker dealers system, but you will not find any firm with "exchange held" stops that reside at Nasdaq (not supported by Nasdaq). Best of luck, -Eric P.S. This post is just one example of some of the problems/complaints you can get by offering your own brokerage firm created stop orders. http://www.elitetrader.com/vb/showthread.php?s=&postid=817987&highlight=Genesis+stop#post817987 P.S.S Another 'quality' thread created by areyoukidding, worth review: http://www.elitetrader.com/vb/showthread.php?s=&threadid=53917&highlight=Genesis+stop (starting to appear as though areyoukidding? = BrownianMotion, IMO)
Wow. Sounds like someone has a vested interest in Genesis's reputation Eric. Deeply sorry (not) that I upset you enough to provoke such a defensive reaction. Listen buddy. You're deductive logic is impressive. I am interested in trading with Genesis--or at least was--ONLY because their rates were good. That doesn't say anything for their software or customer service which I am questioning more each day. Maybe YOU'RE right (thanks for the spelling tip by the way--you bring back fond memories of my old English teacher]. Maybe they aren't a good fit for me...or for many others who need good service, software, and stops. P.S. Thanks for the sarcasm. It's so first class and productive you even got me doing it! Your new friend, Brown
Excellent reply. I probably did come across a bit too hostile. Sometimes it getting annoying to see the same old criticism leveled time and time again. I think you hit the nail on the head though. No firm can be everything to everyone. I've been with Genesis for 16 months (as a client only, no other affiliation) and have executed over 500,000 orders for well over 100MM shares during that time. They are the best firm I have ever used, but they are not perfect. In terms of speed (order execution, cancellation, etc) and commissions, I don't believe they have an equal. They have had occasional reliability problems, which were disturbing at the time. These seemed to be mainly due to 'growing pains' as the enhanced their software and systems to handle a larger and larger client base (similar, I believe, to what happened with IB a few years back). They seem to be over these problems now (I hope). To summarize, they are an excellent firm IMO, but clearly don't offer everything that anyone could want. Although stops are not an issue for me, I'd love to see them offer futures and foreign markets. In the meantime, I will maintain accounts with other firms to trade these markets that Genesis does not offer. For what they do offer, they are excellent, from my experience. Sorry for the sarcasm and spelling lesson. Best of luck, -Eric
Eric, Calm down. I was just saying that they dont have nasdaq stops which is a fact. otherwise i am happy with the firm and its software. i was hoping that genesis would make this on their "to do" list as every other firm offers it, including the online brokers. doesnt make sense in this day and age.
Genesis will offer non exchange based stops in the near future. It is definitely on our to do list. We have official exchange stops for NYSE and AMEX. Eric is absolutely correct, there are no official stops for NASDAQ. We will build our own in the near future. Thanks.
We do not have an expected date, but they will be arriving very soon, It would be safe to say this month.