I applied to open the account. It's taking loooong time. they already took away my money from my bank account, but the account is not ready yet. They never reply my email. Last friday, when I called them, they say my account is available a couple of hours later. Today I called them, they also say it's available after a couple of hours. It's past 3 hours already but still no answer from them. Now, I am beginnig to worry about their quality of services..... anyone using cybertrader?
is cybertrader good?
- Thread starter scottradeidiot
- Start date
Schwab will squander your money because of their mediocre order execution and order routing logic for equites and options. You might not even be aware that it is happening. If anybody knows about any broker who routes orders as well as Interactive Brokers, then please let us know.
No, you won't generally be OK using direct routing. If you are trading a security which does have meaningful order routing choices, and for which quotes vary as quickly as they routinely do for those having strong electronic liquidity during regular trading hours, then you, as a human being, will be mentally and physically incapable of direct routing your order to the best routing choice. The best choices change too quickly, in comparison to human reaction times. If you could possibly perform this task, it would be highly burdensome and distract you from your other trading decisions. Order routing generally can and should be automated for most trades in most situations (there are exceptions for which a direct routing decision should be made). If you needed to calculate the square root of a number, would you use an electronic device, or would you do it by hand? do you even know how to calculate a square root by hand?
If your broker does not provide adequate order routing, then you might try using the order routers provided by ARCA or BRUT. I have no experience with them, because my broker, Interactive Brokers, does not allow its customers to route orders through other market centers. I have heard complaints about BRUT's order router chronically malfunctioning. I'd like to hear more about the pros and cons of routing through ARCA and BRUT.
If your broker does not provide adequate order routing, then you might try using the order routers provided by ARCA or BRUT. I have no experience with them, because my broker, Interactive Brokers, does not allow its customers to route orders through other market centers. I have heard complaints about BRUT's order router chronically malfunctioning. I'd like to hear more about the pros and cons of routing through ARCA and BRUT.