Anyone use Lets Go Trade (dba Choicetrade)?

nitro · Sep 27, 2002

Originally posted by mjt
On their website: "For bullets, the minimum commission is $10.00 per trade."

Yeah,

That's kind of cheesy, but that's only 500 shares. Besides, I would rather pay the ten dollars (even if I was doing 200-400 shares,) then miss the trade.

nitro

nitro · Sep 29, 2002

Originally posted by nitro

BTW,

Did I read that right - 3/4 of a penny for the route version of the software? Is that "all in" ?

nitro

OK - I talked to a representative and that is not all in. To make a long story short, trading to the NYSE will cost about 1.15 cents per 100 shares. They also have the five minute rule "on the book."

nitro

cdcolvin · Sep 29, 2002

Originally posted by nitro

OK - I talked to a representative and that is not all in. To make a long story short, trading to the NYSE will cost about 1.15 cents per 100 shares. They also have the five minute rule "on the book."

nitro

What's the five minute rule?

nitro · Sep 29, 2002

Originally posted by cdcolvin

What's the five minute rule?

If you leave an order in for five minutes or longer and it gets executed, .02c per share is added to the comission!!

I don't think this is a big deal - for me at least - I have never left and order in for more than two minutes, and cancelling the order and putting it back in is no big deal.

nitro

rockhound · Oct 3, 2002

So is anyone actually using these guys? If so, do you recommend them? I've been watching and waiting for a while, but am inclined to give them a shot.

Funster · Oct 3, 2002

I am just setting up an account with them and will let you know how it goes.

they have also just reduced their base commission to 1/2c. so that means nyse for 0.9c.

Also dont forget you actually deposit your money with penson. this is a large respectable clearing house I am lead to believe.

nitro · Oct 3, 2002

Originally posted by Funster
I am just setting up an account with them and will let you know how it goes.

they have also just reduced their base commission to 1/2c. so that means nyse for 0.9c.

Also dont forget you actually deposit your money with penson. this is a large respectable clearing house I am lead to believe.

WOW

I am gonna wire some money in today.

FUNSTER - keep me posted please.

nitro

cdcolvin · Oct 3, 2002

Originally posted by nitro

WOW

I am gonna wire some money in today.

FUNSTER - keep me posted please.

nitro

You can wire it to my account? I'm still learning how to trade and could use a cushion of your money

.

Since nobody really answered the original question, I've been in the process of setting up with them. They are willing to assist me in setting up the accounts the way I want them set up. Now it's wait and see.

nitro · Oct 3, 2002

Originally posted by cdcolvin

You can wire it to my account? I'm still learning how to trade and could use a cushion of your money .

Since nobody really answered the original question, I've been in the process of setting up with them. They are willing to assist me in setting up the accounts the way I want them set up. Now it's wait and see.

cdcolvin,

Let's keep this thread going as the experience with them mounts.

Comission is only one part of the euquation obviously. Fast executions, a good clearing firm, SIPC, fast bullets, and support when you need to get out is a must. Even if I open an account with them, I will leave 30K with IB just in case I need to get out and I can't get a hold of anyone at Choicetrade. Hopefully, as we build experience with them, I will not feel the need to keep two accounts.

nitro

AAAintheBeltway · Oct 3, 2002

Would someone please sign up for SL4? DATTrader and I are desperate to get that thread going again. It has several million equations to put you ahead of MM's and basically turn your pc into a printing press spewing $100 bills out the CD slot.