When I asked DDT about the simplicity of their website, this is what they said to me : "We decided to keep our informational website simple for Compatibility reasons. Since we are doing business Worldwide, alot of Traders are using a combination of different Computer Operating Systems along with different Browsers which can create many Complications & Glitches when viewing our website. So by maintaining a simple website, we were able to achieve viewing Compatibility for all Traders around the World. Also, we fully state our commission rates, platform fees, & margin amounts which most brokerages are not willing to do. Thank You again for understanding".
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Great rate, great service, great attitude
- Thread starter Swan Noir
- Start date
When I asked DDT about the simplicity of their website, this is what they said to me : "We decided to keep our informational website simple for Compatibility reasons. Since we are doing business Worldwide, alot of Traders are using a combination of different Computer Operating Systems along with different Browsers which can create many Complications & Glitches when viewing our website. So by maintaining a simple website, we were able to achieve viewing Compatibility for all Traders around the World. Also, we fully state our commission rates, platform fees, & margin amounts which most brokerages are not willing to do. Thank You again for understanding".
Quote from Swan Noir:
Yes ... IB is great. And their Universal Account offers the added protection of a sweep to an SIPC insured account every night which, for those without vry lage accounts is much better than segregation.
But Deep Discount has both options and futures -- enough for many traders -- and their day trade margins are much less demanding than IB. But, all and all, I have no quibble with those who are impressed with IB. And they really do make it possible to trade the world ... pretty much the whole world.
My only problem with IB is when I need to trade an inexpensive stock where I need to move thousands of shares.
If I'm trading AMZN, great can move good money for 1 dollar but say I want to trade BAC, comm is hell.
For that alone I got a separate broker.
FoN
Quote from opt789:
How about a website that doesnât look like a high school kid who got a C in computer class put it together over the weekend?
That was my immediate reaction too. EMG's 'awesome' broker he quoted on ET has an even worse site.
In the end, good service at fair fees is what it comes down to -- but a professionally designed website does not hurt either. It doesn't cost a lot today to find a freelance designer to put a nice one together that's for sure. So if you can find a broker that provides good service at fair fees and treats their business professionally, all the better. I believe OEC fits that bill - http://www.openecry.com/
Making your site friendly to all browsers and still professional in design can be accomplished fairly easily.
Quote from opt789:
How about a website that doesnât look like a high school kid who got a C in computer class put it together over the weekend?
I like their simple website.
As a matter of fact, I come back to it all the time for its simple one page detailed list of all of the major trading platforms with detailed costs included. http://www.deepdiscounttrading.com/TradingPlatforms.html
Name one other site that has that (hint:there aren't any).
Its fees page is also one of the best breakdowns of the various component fees and commissions for all major futures contracts. Name one other place I can find that. http://www.deepdiscounttrading.com/
Do people really prefer sites with flash movies all over the place where you have to navigate numerous pages to try (usually in vain) to find the simplest concrete piece of information?
As to service, I have not yet funded my account there yet but I got responsive and candid assistance in opening it.
Realize that most aspects are ultimately going to be handled by the Clearing Broker anyway, not by the IB.
I think comintel's remarks about the clearing firm/introducing broker are largely correct. And when you take a look at how Crossland structures its business it is pretty clear they are setup for the professional trader -- "the local" -- rather than just the general public.
The real tip off is that they do not do a forex business. A lot of firms simply resell some rip off forex capability that generates a high markup while never providing any value to their client. Sort of like how a supermarket has soap powder private labeled except that when financial products like forex are sold that way they are frequently deficient. My experience in life is that when you use a supplier, particularly in a service business, that in the main services pros they simply do not know how to do it wrong. They could never have built their basic business any other way. And in this case you have Howard at Deep Discount to provide personal service to us retail customers. Sort of Interactive Brokers with a guy who has the time to give you his attention.
BTW, while I am far from an accomplished pro or market insider, I trade ES full time and do not take picking a broker lightly.
The real tip off is that they do not do a forex business. A lot of firms simply resell some rip off forex capability that generates a high markup while never providing any value to their client. Sort of like how a supermarket has soap powder private labeled except that when financial products like forex are sold that way they are frequently deficient. My experience in life is that when you use a supplier, particularly in a service business, that in the main services pros they simply do not know how to do it wrong. They could never have built their basic business any other way. And in this case you have Howard at Deep Discount to provide personal service to us retail customers. Sort of Interactive Brokers with a guy who has the time to give you his attention.
BTW, while I am far from an accomplished pro or market insider, I trade ES full time and do not take picking a broker lightly.
Quote from comintel:
Realize that most aspects are ultimately going to be handled by the Clearing Broker anyway, not by the IB.
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does it accept overseas (non-US) residents?
If you take a look at the posted reviews you will see that the initial reviewer, an active poster here on ET, is Trade Metal. I have corresponded with him and he resides in Europe. He is very pleased with the service. In fact it was his review that prompted me to call.
Quote from blackstormcap:
does it accept overseas (non-US) residents?