http://www.freetradez.com - Free Commissions
- Thread starter wirelessbull
- Start date
It appears that FreeTradez (i.e. Investor's Advocate, LLC) was suspended by NASD for failure to supply financial information. The concept was certainly appealing (i.e. zero commission direct access trading etc.) but it wasn't to be.
With the demise of FreeTradez, Interactive Brokers is the undisputed best direct access broker out there from a commission standpoint and no ECN fees. Plus they have an army of programmers to work through any software issues. My wife just opened up an account with IB - I'm next.
http://www.nasdr.com/pdf-text/0105dis.pdf
"Firms Suspended For Failure To Supply Financial Information
The following firms were suspended from membership in the NASD for failure to comply with formal written requests to submit financial information to the NASD.
The actions were based on the provisions of NASD Rule 8210 and Article VII, Section 2 of the NASD By-Laws. The date the suspension commenced is listed after the entry. If the firm has complied with the requests for information, the listing also includes the date the suspension concluded."
Among the companies listed is:
Investor's Advocate, LLC
Grand Blanc, Michigan
(April 12, 2001)
With the demise of FreeTradez, Interactive Brokers is the undisputed best direct access broker out there from a commission standpoint and no ECN fees. Plus they have an army of programmers to work through any software issues. My wife just opened up an account with IB - I'm next.
http://www.nasdr.com/pdf-text/0105dis.pdf
"Firms Suspended For Failure To Supply Financial Information
The following firms were suspended from membership in the NASD for failure to comply with formal written requests to submit financial information to the NASD.
The actions were based on the provisions of NASD Rule 8210 and Article VII, Section 2 of the NASD By-Laws. The date the suspension commenced is listed after the entry. If the firm has complied with the requests for information, the listing also includes the date the suspension concluded."
Among the companies listed is:
Investor's Advocate, LLC
Grand Blanc, Michigan
(April 12, 2001)
For those interested this is another no-commission broker (actually they are a market maker).
http://www.brokerageamerica.com/
From their site:
"Whether you trade online or offline, all the broker does is pass your order to a market maker. The market maker actually trades the stock. Your broker just pockets the commission.
When you trade with BrokerageAmericaSM, you're trading directly with a market maker, so you get free market and stop orders, and a rebate on every stock trade."
http://www.brokerageamerica.com/
From their site:
"Whether you trade online or offline, all the broker does is pass your order to a market maker. The market maker actually trades the stock. Your broker just pockets the commission.
When you trade with BrokerageAmericaSM, you're trading directly with a market maker, so you get free market and stop orders, and a rebate on every stock trade."
Originally posted by andrasnm
Dustin,
I am the Knight who says "Neee" !!!
Now why would you omit that this great broker/MM does charge
for limit orders (you may never get them executed) and
they charge $30 for NL fund trades. Which now cost me nothing. Do you have account with them ??? I think you should try
Damn whats with the attitude these days! lol
I wouldn't touch a "free" broker with a 10ft. pole. The only reason I posted it here is because it seemed like there was some interest, and I just discovered the company this weekend from a magazine ad.
Dustin,
sorry for the "attitude" ! If you read the thread I got
a lot of attitude slapped with earlier. I offered public
apology if I was wrong and I would be naive to expect
the same from some members of this group. I guess I am
still flustered as to how can some sink so low in terms
of common sense and brains. I know I am wasting my time
and yours even pondering about this !!!! So I am sorry
if I offended you with my attitude which was obviously directed more towards the *broker* in question.
sorry for the "attitude" ! If you read the thread I got
a lot of attitude slapped with earlier. I offered public
apology if I was wrong and I would be naive to expect
the same from some members of this group. I guess I am
still flustered as to how can some sink so low in terms
of common sense and brains. I know I am wasting my time
and yours even pondering about this !!!! So I am sorry
if I offended you with my attitude which was obviously directed more towards the *broker* in question.