TrackTrade Vs IB: Could've saved 27%

newestmember · Jan 17, 2004

Is anyone here using TrackTrade? I just went through my December IB account statement to see how much I would've saved, and I calculated that had I used TrackTrade I would've saved 27% on commissions....

But how are the fills and reliability at TrackTrade? IB had some reliability issues a couple months ago, but I haven't been logged off since...and the fills are INSTANT with IB...can the same be said of TrackTrade?

newestmember · Jan 17, 2004

http://www.elitetrader.com/vb/showthread.php?s=&threadid=24592&perpage=6&pagenumber=2

I'm looking for the opinions of any former IB users who now trade with TrackTrade....

newestmember · Jan 18, 2004

SethArb · Jan 18, 2004

of how you would have saved $ ?

saschabr · Jan 18, 2004

Quote from SethArb:

of how you would have saved $ ?

A 500 shares order is $5 at IB and $2.5 at TT. That saves actually money, doesn't it ?

hoodooman · Jan 18, 2004

SAS

Interesting post. Are there any monthly maintenance fees or software fees?

Cdntrader · Jan 18, 2004

Quote from newestmember:

Is anyone here using TrackTrade? I just went through my December IB account statement to see how much I would've saved, and I calculated that had I used TrackTrade I would've saved 27% on commissions....

But how are the fills and reliability at TrackTrade? IB had some reliability issues a couple months ago, but I haven't been logged off since...and the fills are INSTANT with IB...can the same be said of TrackTrade?

TT is really getting competitive.

Although you must pay your own exchange fees.

And there are minimums on account balances.

And maximums on equity order sizes.

And wire transfer fees of $50 a pop.

And minimum trades for free software. What is the software like? they need a demo.

saschabr · Jan 18, 2004

Quote from hoodooman:

SAS

Interesting post. Are there any monthly maintenance fees or software fees?

Yes, there are fees. look at www.tracktrade.com
You get a charting and level II platform

SethArb · Jan 18, 2004

outgoing wire fees ....

also the minimum commission is $1.00 same as IB

IB offers tons more futures than T.T.

I did a comparison using their website of commissions
here are the results

ps ... I pay no software fees using IB not sure how they got this
except by assuming I would use IB 's level II fee has been reduced to $20 I believe.

You currently pay $1,435.00 /month in commissions
with Interactive Brokers $79.00 /month in software fees

$1,514.00 /month Total

With TrackTrade you'd pay $2,230.00 /month in commissions
$0.00 /month in software fees

$2,230.00 /month Total

That would mean a savings of $-,716 every month for you with TrackTrade. So Using T.T. I would lose money in commissions

thanks for the info anyway ...

newestmember · Jan 19, 2004

TTrade equities are much cheaper, and there are no ECN fees to pay.

But it doesn't look like anyone from IB has jumped ship yet, & I think that's pretty telling, given the huge savings that could potentially be had (as I said, I would've saved 27% on commissions in December alone)...

Looks like no one here thinks TrackTrade has a reliable platform.