Anyone use Lets Go Trade (dba Choicetrade)?

Correct me if I am wrong:

0.5 cent per share base rate (trade route direct)

0.25 cent ISLD
0.40 cent ARCA
0.40 cent NYSE
0.20 cent SOES / SuperSOES

so the per share rate is 0.7 cents to 1.1 cents, depending on routing.

So are people willing to give up IB's 0.5 cent incremental for shares 501+ in exchange for bullets?

Regardless, interested to hear about experiences with ChoiceTrade
 
Originally posted by m22au
Correct me if I am wrong:

0.5 cent per share base rate (trade route direct)

0.25 cent ISLD
0.40 cent ARCA
0.40 cent NYSE
0.20 cent SOES / SuperSOES

so the per share rate is 0.7 cents to 1.1 cents, depending on routing.

So are people willing to give up IB's 0.5 cent incremental for shares 501+ in exchange for bullets?

Regardless, interested to hear about experiences with ChoiceTrade
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Yes to all questions.

nitro
 
Nitro et al

I said I would post with my experiences with choicetrade.

Well, so far so good.

Nice little order entry box that can be sized and saved so that it fits snuggly (always on top) in a hole in my esignal screen.

You click a bid or ask in esignal and the trade box populates. You can then BUY or SELL from that price (so you can easily and quickly choose to sell asks or hit the bids.)

You can do open orders and all the usual stuff. However on the esignal version there is no basket order capability nor NX trade option. They are giving me a demo of a version soon which is based on their own datafeed entirely that has both. They have prop traders in NYC that apparently use this version.

Statements are on the Penson server in adobe format and are easy to read with commissions etc, even for scalpers!

To take real advantage of the minimum trade cost ($2) and min bullet cost ($10) you need to be trading 400-500 shares upwards.

I am also getting great personal service (no, not that kind!!!). When I did my first short sell I pressed "Sell short" instead of "Sell" (I had a bullet in place). They phoned me almost straight away to tell me that I should use the sell button as "sell short" mean't I was hanging around for an uptick when it wasn't necessary.
 
Originally posted by Funster
Nitro et al

I said I would post with my experiences with choicetrade.

Well, so far so good.

Nice little order entry box that can be sized and saved so that it fits snuggly (always on top) in a hole in my esignal screen.

You click a bid or ask in esignal and the trade box populates. You can then BUY or SELL from that price (so you can easily and quickly choose to sell asks or hit the bids.)

You can do open orders and all the usual stuff. However on the esignal version there is no basket order capability nor NX trade option. They are giving me a demo of a version soon which is based on their own datafeed entirely that has both. They have prop traders in NYC that apparently use this version.

Statements are on the Penson server in adobe format and are easy to read with commissions etc, even for scalpers!

To take real advantage of the minimum trade cost ($2) and min bullet cost ($10) you need to be trading 400-500 shares upwards.

I am also getting great personal service (no, not that kind!!!). When I did my first short sell I pressed "Sell short" instead of "Sell" (I had a bullet in place). They phoned me almost straight away to tell me that I should use the sell button as "sell short" mean't I was hanging around for an uptick when it wasn't necessary.
More...
Funster,

Terrific to hear! Thanks for the info, as well as the extra tidbits. I am going to fill the forms this weekend and go for it.

nitro
 
I was wondering Funster if you could give us another update of your experiences with choicetrade. I'm thinking about switching. In particular, how long does it take to execute a bullet?
 
bullets are instant. very easy to put them on - even by mistake (:p !)

have taken some money out now, so they are good there.

the traderoute platform is a little irritating in some of the ways it interacts with esignal. but they are looking for a new platform (this is third party stuff anyway).
 
Quote from Funster:

bullets are instant. very easy to put them on - even by mistake (:p !)

have taken some money out now, so they are good there.

the traderoute platform is a little irritating in some of the ways it interacts with esignal. but they are looking for a new platform (this is third party stuff anyway).
More...

Thanks for the update.

Unfortunately I've discovered that choicetrade is not registered in massachusetts, in fact its only registered in like 15 states. I'm pretty sure this means i can't open an account until they do register. Anyone know anything about this?
 
huh?

I'm in the UK and have no problems (except the damn plummeting US dollar at the moment :eek: )

Mind you I went to Andover first and they could not deal with me unless I set up some complicated US banking thing.
 
I looked at homepage and it seems like a good broker for a moderately active trader. They clear with Penson, who does a good job and their 1099s are simple for the accountant to deal with. Since present broker uses Penson should be relatively painless to transfer. Account is relatively small(<40K) so I worry about going with a prop firm that may encounter problems and take awhile to recover.
Commissions/fees are competitive, availability of bullets and phone service if needed. Only other good choice is IB but seems like their phone ops need some work.
 
Why don't you buy GBP futures?

Quote from Funster:



I'm in the UK and have no problems (except the damn plummeting US dollar at the moment :eek: )
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