TrackTrade
- Thread starter cas
- Start date
def
Sponsor
Interesting. They have a fee schedule comparing rates to IB.
They somehow claim IB charges $79 in software fees and double our commission for option trades.
in reality, they have a $10 minimum for option trades where IB has a $1 minimum. They also have a $27.95 exercise/assignment fee where IB has NONE.
They charge $25 for ETF's (which I assume includes the QQQ's)
Other $15 - $50 for wires (IB none)
Their mark up alone of 250 bps on margin rates over broker call for accounts under 25K I think is higher than IB's total margin charge.
Payment for order flow information (this doesn't show up in their commission schedule:
Track Data Securities Corp. maintains the following payment for order flow arrangements:
NITE - standard rebate of 25% of spread for Nasdaq NMS and SmallCap securities orders of 2,000 shares or more with a maximum of $0.01 per share.
HRZG - standard rebate of 25% of spread for Nasdaq NMS (or 5% of spread for Nasdaq SmallCap) securities orders of 2,000 shares or more with a maximum of $0.01 per share.
TRAC - standard rebate of $0.002 and up to $0.005 per share
Normally, I wouldn't comment on a competitor but as they do not do an honest comparison against IB, I'm pushed to make this post.
They somehow claim IB charges $79 in software fees and double our commission for option trades.
in reality, they have a $10 minimum for option trades where IB has a $1 minimum. They also have a $27.95 exercise/assignment fee where IB has NONE.
They charge $25 for ETF's (which I assume includes the QQQ's)
Other $15 - $50 for wires (IB none)
Their mark up alone of 250 bps on margin rates over broker call for accounts under 25K I think is higher than IB's total margin charge.
Payment for order flow information (this doesn't show up in their commission schedule:
Track Data Securities Corp. maintains the following payment for order flow arrangements:
NITE - standard rebate of 25% of spread for Nasdaq NMS and SmallCap securities orders of 2,000 shares or more with a maximum of $0.01 per share.
HRZG - standard rebate of 25% of spread for Nasdaq NMS (or 5% of spread for Nasdaq SmallCap) securities orders of 2,000 shares or more with a maximum of $0.01 per share.
TRAC - standard rebate of $0.002 and up to $0.005 per share
Normally, I wouldn't comment on a competitor but as they do not do an honest comparison against IB, I'm pushed to make this post.
Def,
Thank you for your post. That is the type of comparisons that are needed. I'm an avid IB fan...it would certainly take alot for me to not use IB, but when I saw their equity rates I figured I'd look into it a bit more.
A few things:
1) It is possible to demo their software....it is very much like the mytrack software. I setup a demo..and will play with it a bit.
2) I did call them..and got a person pretty quickly on the phone...my initial questions were about a demo..which I was pointed to on their web site under the place you open an account.
3)They have a big color ad on pages 36-37 in the august ActiveTrader Mag (just arrived in today's mail)...so it looks like they intend to compete directly with the other offerings out there.
Competition is a good thing..but, as Def pointed out..there is more under the surface. I am going to keep an eye on this..and see what develops. If anyone has any experience with them..let us know.
Thanks,
cas
Thank you for your post. That is the type of comparisons that are needed. I'm an avid IB fan...it would certainly take alot for me to not use IB, but when I saw their equity rates I figured I'd look into it a bit more.
A few things:
1) It is possible to demo their software....it is very much like the mytrack software. I setup a demo..and will play with it a bit.
2) I did call them..and got a person pretty quickly on the phone...my initial questions were about a demo..which I was pointed to on their web site under the place you open an account.
3)They have a big color ad on pages 36-37 in the august ActiveTrader Mag (just arrived in today's mail)...so it looks like they intend to compete directly with the other offerings out there.
Competition is a good thing..but, as Def pointed out..there is more under the surface. I am going to keep an eye on this..and see what develops. If anyone has any experience with them..let us know.
Thanks,
cas
Why they are charging for ETFs per trade $25?
I can say at least 10% of traders do trade QQQ,
SPY, DIA, holders,...who trade equities.
I trade ETFs and for me this broker has no value,
I prefer to stay with PointDirex. If you do 150-200k
shares/mothe they can offer you 0.50 penny/share
(All in All).
PointDirex has capital introduction service also, where you
will deposit $5,000 only, and you get 1:5 Buying power,
will be increased later.
Software $39/month. waived if you do 100kshars/monthe.
I can say at least 10% of traders do trade QQQ,
SPY, DIA, holders,...who trade equities.
I trade ETFs and for me this broker has no value,
I prefer to stay with PointDirex. If you do 150-200k
shares/mothe they can offer you 0.50 penny/share
(All in All).
PointDirex has capital introduction service also, where you
will deposit $5,000 only, and you get 1:5 Buying power,
will be increased later.
Software $39/month. waived if you do 100kshars/monthe.
