Two accounts. One at scottrade to look at charts and such, maybe hold a long term position, and one at IB to do trading. Works pretty good for me. ( except when scott's charts aren't working right)
So you guys are telling me Roger Rinney didn't get that statue to pee on that lady's lawn? Because if that's what you're telling me, I'm upset. Isn't it amazing how much money corporate America will spend telling us how good they are at doing something, and then not do it? What do you think the posts on this board are worth in advertising if it was all good? What will this cost them in opportunity because they don't execute.? I've never used them, but if anybody asks me, I'd tell them I heard awful things. I.E. unless I hate them, and then I'd tell them to go for it.
Sorry to hear that. Scottrade works fine for me. Other than their somewhat high commissions (lower than td ameritrade and cyber trader), I dont have a problem with them, but I would like to try Genesis. I dont think they work well with non-day traders though. Remember, Scottrade is a private company, which is one reason why I like'em. - nathan
Genesis Securities if you are trading equities only, hands down kills IB. You complaining about commissions? Genesis is the way to go w/o question.
yeah after reading this http://www.tradeingroups.com/tradeking-vs-scottrade-you-decide/ i learned tradeking was better and tradeking is horrible so it didnt give scottrade much hope
In early 2000 before Scottrade clamped down on the PDT rule I ws daytrading with them. I did about 6 trades a day, I used the web based trading platform, (which was much different then), and I never had a problem with them. I didn't trade every day, about 3 or 4 days a week, and I didn't trade around the open and the close. But I still find it hard to believe from the more active traders when they complain that Scottrade is always down or fucking them over somehow. There also seems to be an arrogant mentality that using the latest technology that doesn't involve a retail broker will make you a winning trader. Ain't true.
getting alot of "order queued" lately during slower periods, even trying to sell by hitting 1 penny below bid... maybe get a partial, maybe it just moves past you. i have had the acc't for 8-10 years, but the fees add up. you better watch it in a rapidly moving market.
Technology is the least of worries with Scottrade. Read the SEC Rule 606 disclosure report and you'll see why Roger Riney will never sell the cash cow! http://www.scottrade.com/online_trading_documents/online_investing_order_routing/ Click "Display" on the report page. Click the individual route venues for the dirt. Why do think 56% of listed options orders went to Citadel instead of Citibank? And why 68% of NYSE, 80% of Nasdaq, and 66% of AMEX orders went to Knight and Auto Trading Desk LLC? Silly me! It's because those venues have the best price for Scottrade customers. Wake up people!
Anybody using limits to daytrade with scottrade is already wide awake. It doesn't matter who they sell order flow to on limit orders, (unless NITE decides they want to fuck with you anyway). And if you stick to the top 100 most active stocks with market orders it still probably won't matter who they sell their order flow to. Some of the statements here make me wonder if the poster even actually trades? It sounds like they are doing all they can to come up with a litany of excuses for not being able to make money trading with a retail broker. If you can't make money at Scottrade, you ain't making it with the latest direct access software with a server located next to the NYSE. Yes, you really have an edge with the electrons getting there .000000000000000000000000001 seoncds faster.
You're the boss. Fire them! I have done it many times. Scottrade, then Schwab, then OptionsXpress, then TOS. I'm happy today. I choose not to say where I trade today but so far so good about a year with them now. Some scary moments but no damage to date. We're all looking for the lesser of all evils.