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Problems with Transact Today?
- Thread starter wareco
- Start date
Quote from chanster:
yeah but that for 375 r/t's a month. if you do 200 it comes out to $4.50 or more as they still charge you the $400 no matter what
If you open an account thru introducing brokers, like infinity or others, you will not have to pay the $400 platform fee
No volume is required.
..but of course you pay more for R/T ($4.32)
Quote from Preston Forbes:
You get what you pay for with brokers/execution....ever since the Walmart way made its way into retail traders minds...theres a million crappy order routing systems for cheap.
Its all about cost...putting in TT, PATS or whatever infrastructure costs huge in initial outlay and must also be planned for expansion quite aggressively, right now most of the cheap firms overload their servers with 3x as many users/traffic as they should normally.
Not a problem in the day to day grind....but when any heavier action goes down, every little trader logs in and opens his 20 charts, the whole system gets tagged and falls into the shitter.
While I respect the whole watch your costs issue, its also quite apparent that most traders cant trade and lose all their money.....if only some more time was invested in their learning and training, instead of gobbling back and forth on rates.
Retail traders could trade for free...and 90% of them would still be unprofitable.
So, then, who/what are the great futures brokers????
I like Trans Act a lot. I have been using it for a while now and have no complaints. They are very quick to answer the phone and their platform is very fast and reliable. Try IB's customer service and you will know what I am talking about.
Has anyone tried the Zaner Group? Their commissions are low and they use Trans Act too. I pay $1.50 R/T in commissions. You add $2.32 and $1.86 for exchange fess R/T for ES or YM to that. And more volume means they can go even lower.