TrackTrade Vs IB: Could've saved 27%

Discussion in 'Retail Brokers' started by newestmember, Jan 17, 2004.

  1. Is anyone here using TrackTrade? I just went through my December IB account statement to see how much I would've saved, and I calculated that had I used TrackTrade I would've saved 27% on commissions....

    But how are the fills and reliability at TrackTrade? IB had some reliability issues a couple months ago, but I haven't been logged off since...and the fills are INSTANT with IB...can the same be said of TrackTrade?
     
  2. .
     
  3. of how you would have saved $ ?
     
  4. A 500 shares order is $5 at IB and $2.5 at TT. That saves actually money, doesn't it ?
     
  5. SAS

    Interesting post. Are there any monthly maintenance fees or software fees?
     
  6. TT is really getting competitive.

    Although you must pay your own exchange fees.

    And there are minimums on account balances.

    And maximums on equity order sizes.

    And wire transfer fees of $50 a pop.

    And minimum trades for free software. What is the software like? they need a demo.
     
  7. Yes, there are fees. look at www.tracktrade.com
    You get a charting and level II platform
     
  8. outgoing wire fees ....

    also the minimum commission is $1.00 same as IB

    IB offers tons more futures than T.T.

    I did a comparison using their website of commissions
    here are the results

    ps ... I pay no software fees using IB not sure how they got this
    except by assuming I would use IB 's level II fee has been reduced to $20 I believe.


    You currently pay $1,435.00 /month in commissions
    with Interactive Brokers $79.00 /month in software fees

    $1,514.00 /month Total


    With TrackTrade you'd pay $2,230.00 /month in commissions
    $0.00 /month in software fees

    $2,230.00 /month Total


    That would mean a savings of $-,716 every month for you with TrackTrade. So Using T.T. I would lose money in commissions

    thanks for the info anyway ...
     
  9. TTrade equities are much cheaper, and there are no ECN fees to pay.

    But it doesn't look like anyone from IB has jumped ship yet, & I think that's pretty telling, given the huge savings that could potentially be had (as I said, I would've saved 27% on commissions in December alone)...

    Looks like no one here thinks TrackTrade has a reliable platform.
     
    #10     Jan 19, 2004