Speed of execution...

T

thunderbolt

As a current online brokerage user, I'm looking to step up to EDAT--primarily because of execution speed. Secondly, Nasdaq level II quotes and charting. I've spoken to several speedtraders(daytraders) and the majority of them strongly recommend TerraNovaOnline. Does anyone else feel that there is a better broker out there? Cost is a concern but not the only. I need rapid executions @ the best possible price with instant confirmations and instant real time info. to implement my trading style. I noticed that Barrons ranked their executions the best but I need real input from real traders. Any pros and cons would be welcomed.

Thunderbolt
 
Go with Interactivebroker execution is better the commission is a penny a share. I don't think they have level 2 but the money you save on fees is worth it. Interactivebrokers quotes suck so just get a decent feed try AT financial or reuters. AT web site is www.atfi.com and reuters is www.bridge.com.
 
thunderbolt,

Having used both Realtick and CyberTrader I can say that both of their executions (especially of Nasdaq stocks) are blazingly fast. And their confirmations are immediate. While their charges are considerably higher than Interactive Brokers (on lots less than about 1500-2000 shares), you get in one platform many things missing from IB such as: Level 2, realtime ticker of prints, historical time & sales, superb charting, conditional orders, alerts, stops that work the way they're supposed to (based on prints hitting the bid, not the ask), trailing stops, extensive short inventory, realtime watchlists, scanners, written statements of all trades, excellent customer service. And, yes, you pay more for those things.
 
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