I currently have a web trading account with one of the web trading brokers. The one thing I find lacking with the web brokers is the unavailability of trailing stops orders. Are there any? If not, I am considering opening an account with SpeedTrader. I am not interested in becoming a full blown daytrader, but would definitely be interested in swing trading. Any recommendations? Thanks, Seth
Hey Seth, If you are looking for a web based platform that allows Trailing Stop orders, check out the Terra Nova Investor(TM). It's a real-time level 1 platform with real-time charting and direct access order routing to Archipelago(ARCA), Island(ISLD), and the SuperDot (ISI route for us). There are some controls you download, but from there you can access via an Internet Explorer window. ARCA offer's Trailing Stop orders and with a point and click order entry interface it is very easy to both trade and monitor your account. For more information check out, http://www.terranovaonline.com/tno_p&s/Investor.asp. The monthly cost for the software is waived (you don't pay for the data feed) and trades are $12 up to 1000 shares with no pass through fees (It's a penny a share above 1000 shares). If you would like to demo the software let me know and we will set you up. Good day, Michael Garvey Client Services Terra Nova Online
Michael, I'm possibly interested in the Investor web-based trading platform for an IRA account that I only swingtrade. A couple of questions (as the information on the website is VERY limited): 1. are IRA's permitted (i.e., treated as cash accounts with no margin) 2. the $60 monthly fee says it is currently waived. Not very reassuring, as that could change in a heartbeat and I have no interest in paying software/data fees for web-based trading -- there are too many alternatives that don't charge. Thanks.
>Michael, I'm possibly interested in the Investor web-based trading platform for an IRA account that I only swingtrade. A couple of questions (as the information on the website is VERY limited): 1. are IRA's permitted (i.e., treated as cash accounts with no margin) 2. the $60 monthly fee says it is currently waived. Not very reassuring, as that could change in a heartbeat and I have no interest in paying software/data fees for web-based trading -- there are too many alternatives that don't charge. Thanks.< Magna, The Investor Series can be used to trade IRA accounts and will be set up to actively reflect what a cash account can trade (i.e. no margin). The fee is waived and has been since the platform was released in early 2001. The platform gets data from Townsend Analytics and Terra Nova covers the cost for our traders who use it. As for it being "currently waived" and the possibility of this changing, I know no plans of this policy changing in the near future, but if it does we, of course, would give all Terra Nova Investor users adequate notice of new policies and costs. BTW - If you are trading on RealTick currently you could just have the IRA account linked and trade both on one platform. Thanks for your interest Magna. If you need more information, please let me know. Michael Garvey
Michael, Thanks for the response. Not sure I understand the above statement. Currently I daytrade on Realtick, and my IRA account is with another web-based broker. I was told on numerous occasions by the folks at Realtick and Terranova that, while IRA accounts are permitted, you cannot trade them online. That is, all orders would need to be phoned in. Unless that policy has changed I don't see what you mean about linking an IRA account and trading both on one platform (after, of course, I would transer my IRA account to TN). I'm interested in Investor, not as a full-featured trading platform, but simply to provide me more options than the current broker where my IRA account sits. Thanks again.
Magna, In the past you did not have the ability to trade Ira accounts online with us. Within the last few months, though, RealTick has been switching Order Servers to XML servers, which is a programing language that allows codings to trade multiple accounts and to have different rule sets for the different accounts (i.e. allowing you to trade Margin, Cash, and Futures accounts with the correct permissioning on the account level for each). I'm not sure what order server you are on, but if you contact your broker they should be able to let you know if you can trade the Ira online today or what the time frame will be for you to have this ability. Regards, Michael Garvey