I currently use IB. Really like the cheap commish, but due to recent system problems and the poor customer service, I feel I really need to have a backup for stocks. I trade both stocks and futures. I have a backup for futures with Smart Futures ($7 r/t, Jeff Pearl 1-888-778-7234). Thanks.
Need Broker to Replace/Backup IB
- Thread starter Jim Bartley
- Start date
Might want to try www.pointdirex.com. They also have the cheap commission, its fully direct access, and very reliable. I have not had any problems on this software. Might want to give it a try.
Hans
Hans
Might want to try www.benjamincapital.com. They also have the cheap commission, its fully direct access, and very reliable. I have not had any problems on this software. Might want to give it a try. My brother pete runs the office.
Try the simulator and see if it suits your needs.
Try the simulator and see if it suits your needs.
He did say back up right and any way 9.95 per trade is cheap in the real world. only 2000 minimum to open an account. Software added and also lets do some #s- :
.005 over 500 shares is great but when you start doing size it adds up. 5000 shares would cost you $25 on IB- lets use Island as the ECN.
It would cost you for the same trade at BC +-$1 for Island Ticket Plus 9.95 ($10.95) or 14.95 ($15.95) for the same trade. SO in this case if you trade size it adds up and then some. Not bad for a backup.
Above 2000 shares BC is cheap- below 2000 shares IB Wins Hands down. Whats great about the trader market is that every firm caters to different trading styles so we all get to be happy.
What the heck try scottrade they are $7.95 who's counting.
.005 over 500 shares is great but when you start doing size it adds up. 5000 shares would cost you $25 on IB- lets use Island as the ECN.
It would cost you for the same trade at BC +-$1 for Island Ticket Plus 9.95 ($10.95) or 14.95 ($15.95) for the same trade. SO in this case if you trade size it adds up and then some. Not bad for a backup.
Above 2000 shares BC is cheap- below 2000 shares IB Wins Hands down. Whats great about the trader market is that every firm caters to different trading styles so we all get to be happy.
What the heck try scottrade they are $7.95 who's counting.
Behind IB I have DATEK. Yes it has troubles from time to time but I like it for its many features and to do the many thousand share trades from time to time because of the $9.95 all you can eat. I've watched a STreamer for years now so did not want to give it up when I went to IB.
Geo.
Geo.
Does anyone else have suggestions for commissions somewhere near IB's, with the same connectivity to ECNs?
I've only found one other retail broker (ProTrader) that has direct connections to Instinet, REDIBook, Island, and ARCA (i.e. not via SelectNet), allowing you to see quotes and post orders there. Unfortunately, ProTrader's commission structure is prohibitive for my trading (average fill ~500 shares).
I'm looking at having to switch to a pro firm (Bright) to get what I need.
I've only found one other retail broker (ProTrader) that has direct connections to Instinet, REDIBook, Island, and ARCA (i.e. not via SelectNet), allowing you to see quotes and post orders there. Unfortunately, ProTrader's commission structure is prohibitive for my trading (average fill ~500 shares).
I'm looking at having to switch to a pro firm (Bright) to get what I need.
I think the closest is pointdirex.com which was already mentioned.
Another option (close but not as good as PD):
http://www.successtrade.com/getting/commissions.html
Another option (close but not as good as PD):
http://www.successtrade.com/getting/commissions.html