Anyone ever hear of or trade through Marsco? They're offering $3.95 trades.

Quote from Marc to Market:

Seems like they're a new broker and $3.95 trade without any restrictions sounds enticing. I just want to make sure it's legit before I open an account with them.

http://www.marsco.com/

Thanks for any info.

Marc
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This may be good enough for a few trades per year here and there to buy/hold with but it is not a direct access broker, just an "e-mail into our trading desk" type broker like Scottrade - they make their money by taking the other side of your trades - it's called SLIPPAGE. Especially during fast markets.

If they hose you for .01 or .02 per share on most trades, they make a lot more money than if you pay a decent direct access broker by a per-share cost (IB, Tradestation, MB, CYBER, etc.)


Plus look at the fee schedule - above average for everything else, especially options and mutual fund trading fees
 
hahaha Marsco...they used to have the best commercials on cnbc. I had memorized the entire compercial. It was like it was made on powerpoint...
"Call Marsco discount brokers, only 25 dollars a trade"

They must have gone online i guess
 
slapshot, What do you mean the sentense?

they make their money by taking the other side of your trades - it's called SLIPPAGE. Especially during fast markets.
 
Quote from Marc to Market:

Seems like they're a new broker and $3.95 trade without any restrictions sounds enticing. I just want to make sure it's legit before I open an account with them.

http://www.marsco.com/

Thanks for any info.

Marc
More...

Not "new" FWIW.

Legal Status CORPORATION
State/Country of Formation NJ
Date of Formation 09/03/1986
Fiscal Year End DEC

Don
 
Quote from Marc to Market:

How are they going to do that if I am buying on the bid and selling at the ask?
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As a hypothetical example, if you are bidding they won't fill you unless the current national offer is at the price of your bid (or worse). So they only fill if there is some assurance they will make money by taking the other side.

I am not saying this particular firm does that, just giving you an example of why using limit orders might not protect you from slippage.
 
I could not find the password change place in website?
Can customer change log on password in the website?
 
Quote from Marc to Market:

That's a common misconception. I made a ton of money for years buying on the bid and selling on the ask at Freetrade which was anything but a direct access broker. Most of the time the order flow does go to a market maker, but it's often an automated process; not some individual at the firm looking at your little 20k share order and trying to find a way to screw you.
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I'm glad that you are so optimistic. Good luck to you.
 
Can anyone call to them to ask the following,

Can customer change password themselves?
I live, work outside america, and I am not an american.
Can I open margin account?

Their TEL is toll free 800 962 7726

I am foreigner who are not native english speaker,who live
outside america.
 
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