Cobra vs Centerpoint

[lwlee]

Thanks but only looking for equities. Bankruptcy claims? Lol.

The equation is very simple: if you want locate (illiquid bonds, equities short, bankruptcy claims, funds secondaries...), You need to start using your phone daily.

 

[AR15]

I have accounts at both cobra and centerpoint and cobra has better customer service by far

Cobra locates are cheaper on average and commissions as well

I only use my centerpoint account when I can’t get a locate at cobra. Wedbush is very good for locates on HTB’s though

Also there is now 4 locate sources you can access on your own in cobra. You don’t have to call anyone lol. It’s in the das platform. But if you message them they have free HTB locates on some stocks they give out every morning through the live chat

 

[lwlee]

Thanks AR15.

- is it true that Vision has better inventory than Wedbush?
- on the das platform, does the app give you similar locate functionality like Centerpoint?
- besides having centerpoint as a backup, is there any other reason you still kept it?
- what other brokers do you have, that you kept and why?

I have accounts at both cobra and centerpoint and cobra has better customer service by far

Cobra locates are cheaper on average and commissions as well

I only use my centerpoint account when I can’t get a locate at cobra. Wedbush is very good for locates on HTB’s though

Also there is now 4 locate sources you can access on your own in cobra. You don’t have to call anyone lol. It’s in the das platform. But if you message them they have free HTB locates on some stocks they give out every morning through the live chat

 

[TradeZero_Dan]

Hi,
I'm comparing different direct to exchange brokers. I've gone through all of the major daytrading firms and specifically want firms that are good at selling short (short inventory/locates). Cobra and Centerpoint seem to mentioned most often.

I've heard really strong things about Cobra. Including much lower rates for overnight HTBs.

But I found this 2017 post about a trader's experience with both firms. He switched from Centerpoint due to the CBLI debacle with ETC. He tried Cobra but eventually left due to no short locate app. Had to constantly msg support to get short locates. Also he said short inventory wasn't as good as Vision.
Cobra Trading Review (aspen-c.com)

I've requested the 14-day trial with both platforms to check them out first hand. But was wondering what others had to say about these 2 brokers.

Some other contenders that fell short,
- Lightspeed, short inventory/locates isn't at the same level.
- IBKR Pro, excellent inventory monitoring tool but poor locates and inventory dries up fast. Multiple traders have complained about slow executions of large orders.
- TradeZero, high fees to compensate for zero commission platform. Also I believe that all these zero commission, payment for order flow brokers are not true daytrading platforms as they route your orders through their system to make themselves the most money costing daytraders poor execution times.
- TD Ameritrade. Practically no short inventory. Again slow execution due to PFOF.
- TradeStation. Short locate app but came up empty during the trading day.

We would agree that if you are serious about trading, that you should control your order routing. In addition to the free trading software, and free mobile app including locate access, you can access TradeZero's locate service, while also routing your own orders, commission free. The add/remove and route out fees are posted on our website. www.tradezero.us/pricing and click on Direct Routing.
Why not actually give us a try and report your experience?

 

[AR15]

Thanks AR15.

- is it true that Vision has better inventory than Wedbush?
- on the das platform, does the app give you similar locate functionality like Centerpoint?
- besides having centerpoint as a backup, is there any other reason you still kept it?
- what other brokers do you have, that you kept and why?

Yeah man. Vision has more than wedbush but CP is more expensive than cobra usually. Cobra u can get some locates for free if you chat with them on the site

Locating is exactly the same on cobra as on CP

The reason I keep the centerpoint account is cause if there’s not a locate at cobra I’ll get it at centerpoint that’s only like 1/50 stocks though usually.