Looking for another broker after Freetrade closes.

different thought same subjet...

IF there were enough traders that COULD get along long enough to attempt to broker a transaction with a BD to get better pricing, why not start buying the stock of a small BD like Rushtrade (RSHF.OB) over a period of say 1 year and have that group take control of it as OWNERS.

This could yeild some interesting results. trading platform enhacements quickly, prefrential commission structures, etc.
 
Quote from joeyata1:

my friend you learned first hand how retail brokers make there cash. its called selling order flow. you don't think these brokers keep all that fat overhead going with a lousy 8 buck commission. unless your broker uses autoexecution for small orders doing a market order is hazardous to your health. and even limits with the freetrades of the world are on 3rd markets were the stock has to move threw your prcie for a fill so the market maker still makes money
More...

I didn't trade all that much with Freetrade, but I did see my orders represented on ECN's , at least in Nasdaq, not held in some MM queue.
 
have you ever heard of ACH?


Quote from steve23:

I trade different amounts, but I usually always get to the 1 dollar trades, and most trades are in the 3000 to 5000.

I have talked to 2 other traders who have been with Freetrade as long as me, trade as much as me, and don't have any other memberships with Apex, that did not get the same letter as me, so I have no idea what were the reasons as to who got what letter, the only thing I can think of is that maybe in a month or 2, the ones of us that got the letter will get a new letter saying we will no longer get the Freetrade Prices either. It just seems logical considering their way of treating people.

They have a 100 % right to do as they please, but to give such a short notice, and to not waive the fee'ss for transferring funds out , does not show much class if you ask me.

I like the idea of us all getting together, to see if we could get a group rate with a Broker, I know from talking to many on here, that just with the Freetrade members of present and past that we should be able to have a large amount of weight behind us.

Another thought is that all of the current traders agree not to trade with the new site for the first week ( or longer)... maybe they would agree to grandfather the rest of you in to the old fee's

just a thought....
More...
 
I suspect that a few months from now, Ameritrade will combine the Izone accounts and regular Ameritrade accounts and come up with a commission schedule that is some where between what is now Izone and Ameritrade.
 
hope this helps...

ameritrade makes the majority of their money by selling retail orders, as some have already mentioned...

never short using a market order using amtd...

do not let your orders sit, just hit bids and offers, otherwise risk being "gamed"...

never fight the guy on the other side of your trade because they will win and put you in at a worse price...and amtd will say 'f' off it was the NBBO...

i have multi page execution reports from them, finally demanded they send me ALL order flow payments received on my behalf and it shocked me...i had an idea my slippage was high b/c i read tape well, but they really do fuck me...now i get improvements and a snicker everytime i talk to their highschool help...

AMTD self clears and own 6.95% of Knight Capital....

alex
 
RML Trading says that we can get a lower commission rate if we go there together.
Currently, it offers $2.95/per trade with ECN fees passing through if you make 2001+ trades per month.
This rate applies to your 1st trade of the month.
The new account rep said that if I can get a group of active traders to go to there, we can get a lower rate.

If you are interested in getting a group rate, please send me an e-mail at autobjplayer@yahoo.com
 
Let's do this.

All who are interested in this offer from RML Trading, post a short message on here, so we can get a count.

One thing that would be great is the lowering of the amount of trades required ( 2001 ) to get the low price,

group rate :-)

Steve
 
2001 trades is way too much. Make it 201 and it would sound better to me. I wonder how much they charge for under 2000 trades a month?
 
RML is one of the brokers i am considering right now...

my contact is Kevin Simon...

i think they'll play ball but i only have 'assurances' right now...nothing concrete/on paper...


steve,

just what exactly do you plan to do ?

thanks.


alex
 
I have been looking for other brokers,

I am talking to Etrade Pro, Genesis, Cybertrader and some other's

With my style of trading, I need better prices than what IB and MB offer

I have been very unhappy with Freetrade, and had already decided to look elsewhere before this thread.

I am open to a group deal with the above mentioned Broker, but just want to see what the offer will be before i sign up with any others..

I also found www.foliofn.com, i like the pricing, but it just seems it will give the same fills as Freetrade, ( poor ) with routing via knight

So what about the rest of your Freetrader's ??

Steve
 
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