Which broker is good for a swing trader

Discussion in 'Retail Brokers' started by jicun, Feb 17, 2007.

  1. jicun


    Hi guys,

    Anyone who get idea or suggestion here which broker is good for a swing trader? I mean may 2-3 trades per month if a swing will be to wave but may no any activities in one or couple of months untill end of the wave?

    I understand that IB is good, but seems only for active day traders? Scottrader seems another option, but seems that firm is not a direct access broker?

    Looking forward for your insights.

  2. I recently transfered to Sogoinvest. Was using optionsXpress but their stock commissions made no sense. Will keep OptionsXpress for options.

    Do some searches on Sogoinvest, you'll see a lot other comparable superdiscount brokers discussed. So far, Sogo seems good, good customer service, fast processing, good layout. Only gripe is a lack of order options, like GTC, stop, trailing stops, stuff like that. Also, no OTCBB or Pinksheets yet.
  3. IB is fine for swing traders too. And you can swing overseas stocks and futures you might not have access to with other brokers.

    The only issue is that if your monthly commissions are really low you end up with a $10 charge for access to all the US market data. So how important is the $10?
  4. jicun


    Thanks kiwi_trader, that make sense.

    However, I still feel interested in if Scottrade is a direct access broker or not?