is cybertrader good?

Schwab had a 1.58% ownership interest in ARCA as of the end of the second quarter of they year 2005. Schwab routes all equity orders to ARCA during Schwab's extended trading hours. Most of Schwab's equity orders do not fall into this category, and are instead routed to UBS Capital Markets or E-trade Capital Markets, both of which are market makers providing Schwab with various compensation in exchange for the order flow. See "Material Aspects of Relationships between Charles Schwab & Co., Inc. (“Schwab”)
and Market Venues", which you can reach from http://www.schwab.com/public/schwab...routing/report_on_routing.html?cmsid=P-471120.
 
I was first introduced to Cybertrader via Schwab, during the day's of $29.95 per trip. Cybertrader had charts and a platform that was a few levels above Sega, but many levels below Nintendo. Three weeks to fund your account in those day's 2002 was average. I finally gave up on them, since it seems the problems with connectivity was alway's mine, never their's.
Ironic, but at the same time, in Elite Trader, I read where someone indicated that Charley doesn't sleep unless he is ripping off someone.
Best of Luck
 
I am currently using Cybertrader Pro. I really like the platform, and the connectivity is terrific; I've been knocked off twice in 4 months, and was able to log back in right away.

However, like Toonces has said in the past, their order routing sucks! I have recently started to send orders no larger than 200 shares, because the algorithm they use will play hell with an order any larger. I spoke to them yesterday regarding the cancellation of multiple orders ( I put in 3 200 share orders at the same time). It turns out their software by default only allows one order on a security at a time, and cancels the other ones. They claim to have made a change to allow me to submit more than one order now, but I am seriously thinking of trading with a different broker. I can see how if I were caught in a fast market, I might see serious slippage.

I really don't understand what their problem is; they spent alot of money on the platform, and advertising. But the order execution is not comparable to "professional" direct access brokers.
 
Take note of Schwab's deceptive discounted commission sales pitch. Their website specifically claims superiority over Interactive Brokers, because Schwab commissions are generally lower. But the commission savings will be more than cancelled by Schwab's neglect of routing and execution logic issues. You think you are getting a deal with Schwab, but in truth, you are being harmed in ways that you may not even perceive, unless you become a student of order routing and execution issues.
 
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