Direct Access Shakeout
- Thread starter Cdntrader
- Start date
def
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jeffo,
the offering of notes, has all to do with the firms financial position. Without going into specifics an investment grade credit rating by S&P allows one to tap the capital markets at a low cost. There was one post on another thread that mentioned some of the pluses to issuing notes. There are also regulatory capital advantages as well.
As for not paying interest in the first 10K. If anything, that would be a plus when looking at a firms financial status. Nevertheless, the lack of paying interest on those funds certainly covers costs like not charging for bank wires, transferring of shares etc. Besides, if you are an active trader, the loss in interest relative to the savings in commission is a no brainer.
No need to go into a tangent here. The firm is one of the few direct access brokers that actually make money. If in doubt, look at the financial statements of the brokerage entity on the web site (the groups are not on the web site).
the offering of notes, has all to do with the firms financial position. Without going into specifics an investment grade credit rating by S&P allows one to tap the capital markets at a low cost. There was one post on another thread that mentioned some of the pluses to issuing notes. There are also regulatory capital advantages as well.
As for not paying interest in the first 10K. If anything, that would be a plus when looking at a firms financial status. Nevertheless, the lack of paying interest on those funds certainly covers costs like not charging for bank wires, transferring of shares etc. Besides, if you are an active trader, the loss in interest relative to the savings in commission is a no brainer.
No need to go into a tangent here. The firm is one of the few direct access brokers that actually make money. If in doubt, look at the financial statements of the brokerage entity on the web site (the groups are not on the web site).
You are right Def. IB is the best and I agree it is a "no Brainer". With respect to the interest paid, one would have to look long and hard to find a brokerage firm that pays interest on cash deposits from short sales and has such a narrow spread between interest paid on cash balances and the interest charged on the margin balances.
Catoosa
Catoosa
uptik2000 - The chat with Dave is this Thursday at 9:15 EST - you have to schedule a spot and can do so by giving us a call: 1-866-996-8566.
Cdntrader - Our fee schedule for futures does scale down depending on activity. I don't want to get off a tangent on this thread, but if you need more info on this pleae let me know. Maybe we can offer you something in these regards.
tampa - Welcome to Terra Nova Online, we are excited to have you as a direct client. If you need anything, please let us know.
Cdntrader - Our fee schedule for futures does scale down depending on activity. I don't want to get off a tangent on this thread, but if you need more info on this pleae let me know. Maybe we can offer you something in these regards.
tampa - Welcome to Terra Nova Online, we are excited to have you as a direct client. If you need anything, please let us know.
A little differnent than a "dead pool" scenario though because Pristine decided to form their own B/D (www.mastertrader.com)rather than continue to give a cut to TN as a branch office. Much like the same scenario involving MB Trading (once a TN branch). Now initially MB Trading indicated that they would not market to clients of MB-TerraNova once the Navigator was released. Any MB-Trading (Realtick based) customers ever get any info on the Navigator? I bet yes.
Similarly, all you former executioner traders can bet you will be gettin some "great deals" presented to you if you move over to www.mastertrader.com -such as free Pristine subscriptions etc that you will certainly not get if you stay with TN. Just my opinion anyway.
Just wanted to post a quick post in regards to DATTrader's post. FYI... Terra Nova Online will be offering the same free Pristine subscriptions clients of the former Executioner received in the past. In addition traders of Terra Nova have access to the MarketWise Trading School and all the educational classes they offer.
Getting all you received before the move and then also being extended opportunities with MarketWise Trading School and the 125% Reimbursement offer we currently have, we believe should and will be an exciting thing for traders of the Executioner and make a seamless transition a welcomed one as well.
Getting all you received before the move and then also being extended opportunities with MarketWise Trading School and the 125% Reimbursement offer we currently have, we believe should and will be an exciting thing for traders of the Executioner and make a seamless transition a welcomed one as well.
BTW "TN" also, as part of their corporate conglomerate, owns Townsend Analytics which owns RealTick. When you trade with RealTick, townsend gets like 3-4 bucks per execution - this is why you don't see cents/share commission structures on RT unless there is a $5 or so ticket charge.
When you begin trading, you will very likely be trading 100 share lots for a while - $10+ for 100 shares is awful to have to pay. With IB or a cents/share structure, you would pay $1-2. If you are going to be day trading, this will add up very quickly.
If speed matters to you, RT just is not a professional platform for executions. It cannot handle high volume situations well at all - it locks up easily - and this is using a decent pc on a T1 line.
However, the charts and analytics are the best I have seen, having looked at many cheaper programs for charting. The new/high low ticker is great. If you are a scalper or day trade a lot, you can buy a cheaper (160/mo or so) Realtick and then execute trades on a faster, prodessional level platform that will charge 1+ cents/share.
When you begin trading, you will very likely be trading 100 share lots for a while - $10+ for 100 shares is awful to have to pay. With IB or a cents/share structure, you would pay $1-2. If you are going to be day trading, this will add up very quickly.
If speed matters to you, RT just is not a professional platform for executions. It cannot handle high volume situations well at all - it locks up easily - and this is using a decent pc on a T1 line.
However, the charts and analytics are the best I have seen, having looked at many cheaper programs for charting. The new/high low ticker is great. If you are a scalper or day trade a lot, you can buy a cheaper (160/mo or so) Realtick and then execute trades on a faster, prodessional level platform that will charge 1+ cents/share.
I use RealTick 3 PRO spread out over 7 monitors on a 128K ISDN line. There is a lot of data coming in and I do not have any problems with lockups. I always have IB TWS running at the same time and trade on both platforms at the same time. I find both platforms to be equally fast and reliable. When it comes to charts and all the other things RealTIck offers, nothing comes close. When it comes to placing orders, IB TWS has a lot more flexibility. I do have the occasional ISP problem and that takes down both platforms at the same time.
Catoosa