Ameritrade Freetrade.com 2 years so far : Current users please respond.

D

Digs

If you are with IB and trade under 500 shares you pay $5 commission in and out, if you are 1000 shares thats $7.5, is if your trading swings are 10 cents to 50 cents then commission costs are vital. Any trader must limit commission cost to a minimum were possible.

I only user market orders.

I have read that Freetrade.com have fills around 2 seconds for market orders. Thats ok.

Questions I need responses on..
1) Is there software windows EXE based, or a web browser
2) are your fills ok for stocks
3) Do they have smart order entry to ECNs
4) Is there datafeed to order entry system ok
5) How long have you been using them, how many trades do you do .

I have read posts on Ameritrade Direct, that seams a different service to freetrade.com.

Also are there any other brokers out there that do not have an increasing commission when your increase the number of shares.

thx

Digs
 
Why do not ask Ameritrade Freetrade.com all these questions ?

This is a very bad idea not to pay commissions on market orders. You will be better off paying commissions on limit orders.
Good luck !!!
 
I agree with the immediately preceding post.

However, if you're really interested, it's a pretty simple matter to just open an account and probably the best way to determine, for sure, whether the firm will fit your needs.

Here's an idea. Assuming you already have an account with IB, open an account with Freetrade (minimum $5k) and use QuoteTracker s/w (quotetracker.com) for quotes and an order entry platform (QT supports order entry for both IB and Freetrade).
 
I am asking traders who actually use freetrade, with respect, if dont dont respond. I need a view from those with the experience.

thx anyway
 
Those with the experience do not use free trades or free rides, but you are correct, those with the experience.
Experience is something that comes right after you need it.

I am in free country and can answer to anybody I want when I want.

Respectfully,
Felichka.
 
Freetrade now offers 0 cost on Limit Orders in addition to Market, and Stop Orders on the first 25 trades per month, then charges $3 per trade for trades 26 to 100 each month. Sounds like a deal to me, I'm currently using Ameritrade and Scottrade. I guess I need a third Broker and will try them and get back to you.

:)
 
Quote from Digs:

Any trader must limit commission cost to a minimum were possible.... How long have you been using them, how many trades do you do .
More...

None can live on $3 commissions alone. They are going to get their money from you in some other way! And there are many subtle ways to get a customer's money.

Think about kickbacks and other "price improvements". Your market orders are especially vulnerable. But your limit orders are not immune either. Brokers can and will screw around with your orders. Ask any broker. They know.

There is a lot more to "good fills" than just "speed of execution".

There is a BIG difference between "saving money" and being "penny wise and pound foolish".
 
Fair enough thats is what most people say, but what if they are not crooks, what if they do provide an honest service.

I would be more worried in a market that had open outcry, but in a market that is electronic internet feed, with 2 second fills, is there really some bent program thats designed to rob me as I place a stop order to push my fill the wrong way.

I am really after those with personal experience with the service of real life stories to tell. One person responded, saying that he has been with them a year, doing heaps of trades, fills are within 2 secs and excellent, he had only one problem that was resolved quickly by email.

After all they have been going 2 years, I thought I would ge more 'true' bad stories rather than theories or they would have ceased to be trading if your comments were likely to be true.

Like I said there still going so there must be more good stories rather than bad, I just want to here them on this thread. So please respond freetrade.com traders.

Thx
 
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