StockFetcher Forums · General Discussion · Brokers<< >>Post Follow-up
61 posts
msg #27424
Ignore jim_c_hill
7/17/2003 4:37:49 PM

I am looking at different brokers and pros/cons for the short term trading that seems to be the best aspect of stockfetcher (one day to a couple of weeks). Also, it appears one may have to buy several stocks at a time to gain a portfolio reflective of the results of a filter. Here are some of the ones I am looking at. If you are using any of these I would appreciate your latest views on services, costs and other issues

Free Trade(an internet division of Ameritrade): First 20 trades each month are free. $3 per trade for next trades up to the 100th trade. After that it drops. They make their money from interest earned on accounts and fees paid by dealers.

Interactive brokers: Low cost per share and can trade e-mini.

Trendtrader: Higher commission but nice interface.

LowTrades: Competitive with Interactive brokers?

Cybertrader: Competitive with trendtrader also with nice interface.

What is your favorite and why?

439 posts
msg #27437
Ignore petrolpeter
7/18/2003 1:17:15 PM

Folks with large accounts have multiple brokers because some have more available short shares and others heve ECN speed and extended hours.Another consideration is the Quote provider you use because some brokers can be integrated into your Quote/charting platform like MedVed and other higher end services.If so inclined you can watch your stock and pull down a trading tab with your broker interfaced to it.I now like MB trading for a super powerful trading platform,extended hours,14 different type of conditional orders,ECN speed,fair fees.Fee differences between 3-10 dollars to 12- 15 dollars becomes noticable.Another broker platform that looks nice is RJT's RapidJet,but I guess if you have good charts and solid stock picks whats the diff. between brokers?eh?

1 posts
msg #27444
Ignore fventura
7/18/2003 10:14:58 PM

I would also recommend ScotTrade. Trades are $7.00 but the interface is good and the realtime data streams are nice.

257 posts
msg #27556
Ignore xplorer
7/24/2003 10:09:23 PM

I think Ameritrade ( ) ...(used to be DATEK) ...has alot to offer ... low commisions ...not the lowest but, $10.99 ... and when it comes to a few extra dollars, I consider that just "noise", when I am bringing in $200+ profit per trade, besides it is the tools that make the difference ! ... and some great tools like their level-II display is awesome....and real-time charting....

I have used TDWaterhouse for years ... I like them for their research ... but fee's get a little pricey ( $17.95 ) considering not many bell's and are a bit lacking. And to be honest... although I like the reports to confirm my "long" trades ... I rarely hold for more then a week or two any more. I beleive in Technical Analysis (crowd psychology) all the way now... I've gone from holding from 6 mos to a year... to 2 to 3 weeks ( Thank you StockFetcher !!!!) TDWaterhouse does have traders on the floor ... but fast execution is not an issue these days...

72 posts
msg #28088
Ignore trek
8/26/2003 11:27:45 PM

I notice some in Stockfetcher are recommending using margin. I have used Ameritrade for a few years and really like the service. I just decided to start using Margin and found out Ameritrade doesn't allow it on stocks under $5. Does anyone have a broker recommedation for using Margin under $5?

thanks in advance

6,362 posts
msg #28089
Ignore TheRumpledOne
8/27/2003 12:51:19 AM

You have to select the tool based on the job you want to do. If you need a hammer doesn't matter who has the best wrench!

If you are scalping, then you need speed.

If you are swing trading/investing... why pay more?


For the record, I use Ameritrade with QuoteTracker as a front end. I plan on testing FreeTrade. I hesitate because I am not sure if tradekeeper will process FreeTrade data. When Quicken and Money2002 could not process my Schedule D information, Moe at tradekeeper came through in the clutch.

1,373 posts
msg #28092
Ignore EWZuber
8/27/2003 1:50:16 AM

I use Interactive Brokers and like them a lot. Used to use Etrade and don't like them at all. Trades were $45 round trip and their RT. charts didn't have the indicators I need. With IB I'm paying $2 round trip! They are fast and have a good trading platform with streamer. The platform is designed for rapid entry and RT P&L and has a user friendly layout. I also use RT charts ( $10 a mo. ) and like these also. A few bugs in them but interactive with user drawable trendlines, and tons of excellent user adjustable indicators. You can also bring up multiple RT charts so a 1 hour, 5 min. and 1 min. chart can be monitored for 1 or more stocks or indexes at the same time ( bandwidth allowing ). Stock fetcher rounds it out nicely.

6,362 posts
msg #28101
Ignore TheRumpledOne
8/27/2003 11:55:33 AM,0,4929942.story?coll=la-headlines-business

38 posts
msg #28132
Ignore bob79924
8/28/2003 1:31:35 PM

Re: Ameritrade. They don't accept stop loss or limit orders to sell on OTCBB stocks. I don't know if this is just them or all brokers.
Re: Interactive Brokers. The two dollars round trip is the minimum charge. If you have more than two hundred shares in the transaction you will exceed the minimum. Since I deal more in large quantities of very low price per share stocks, a flat rate like Ameritrade is better for me ($10.99 per transaction, market or limit order).
I checked on a broker (I forgot the name) that charges a flat monthly cost for any quantity of trades, but they only buy or sell on an exchange a couple of times a day. That doesn't work for a quickly moving low priced stock, and I wouldn't want to depend on them for a good price. They match a lot of orders in-house and not on the exchanges. Their flat rate is only for market orders; limit orders have added fees.
Bob W.

1,373 posts
msg #28138
Ignore EWZuber
8/28/2003 4:57:28 PM

bob79924, the price drops over 500 shares where it is .005C per share or about $5 round trip. Also there are some OTCBB stocks that you can not trade on IB.

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