you are right on this one. sorry, my fault. as to this: I believe that if one wants to learn and achieve something to a higher than average degree, he has to walk his own path on his own. I believe that's the only way to stay self-confident, self-reinforced and independent. So, I really appreciate your offer but I am a loner. (check your PM box) I do my best
Clearly, you a green trader...who in all likelihood will get his ass handed to him... It's happened to most all of us, me included... How much capital are you working with so you stop sounding vague??
conbar, you can choose specific direct routings ECNs or Market Makers if you want to. I think Ameritrade also has insurances up to 100 millions. However, that insurance will not cover the money you might lose if the market goes to the opposite direction than you want it to. You might want to have one broker that offers per-share pricing and one that offers per-trade pricing. It is a good idea to go small at first no matters what brokers you choose.
If you look carefully at those supplemental policies, they usually have an aggregate limit across the whole policy. Some brokers quote that aggregate amount only, while others quote the per-account limit (if there is one) without the aggregate (or put it in small print), while others do the right thing and tell you about both. So, it might be $5M per account, with a total of $100M for the whole firm. If the firm has $300M in accounts, you can get boned if they crash.
Unless I missed it, nothing has been said about how limited you are going to be on which stocks you deal with. I trade 2 to 3k a trade, and am very limited on which stocks can handle that much. I would hate to see what happens if you put a market order to sell a stock going against you, trading over 5K. In my opinion they are going to eat you alive. Your original question was between AMTD and Cybertrader which to me means you plan on daytrading. Maybe I missed something but not many stocks trade high enough vol to make this even remotely easy. Good luck.
yes even ib has a aggregate of $300 million or so cash so one must be very careful having much over 100k . but look at mer or gs they got thousands of accounts with over $1 million cash
Scottrade, Abso-fn-lutely! :eek: http://www.scottrade.com/frame_executions.asp choose rule 606, and display the desired report. run Forrest, run!
look at broker reviews on elitetrader, IB is by far the best of them all, especially for large accounts who don't need hand-holding. when i traded retail i loved them. they have additional assurance above SIPC as well. ps. reasons: ameritrade will f*ck you probably over much more money than you save over commissions, and ib is just a much better alternative over cybertrader imo