Will you stay with Cyber/Schwab if they only offer per trade pricing?

CT Rep,

Currently, since CT clears thru Penson & Schwab is self-clearing, the sum of uninvested cash in accounts at both firms can exceed $100k and still maintain full SIPC protection (as long as both are below $100k individually).

Now, with the integration, in order to keep full SIPC protection on uninvested cash, must the sum of uninvested cash be below $100k on any Schwab accounts PLUS the integrated Cyber account?

Is the only way to maintain full SIPC protection in that scenario to withdraw money from Schwab to keep it below $100k?

Thank You
 
Quote from CeNY:

Just a heads up for everyone...there's a webinar on integration on the 15th.
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Where did you hear or see that?

The only new news I've received is Cybertrader Pro is extinct December 7.
 
Quote from CeNY:

Just a heads up for everyone...there's a webinar on integration on the 15th.
More...


What time is it & do you have the link?

Maybe I've ticked them off with the questions I've had.

Thank You.
 
Quote from Adobian:

Are there any platform as advanced as Cybertrader which offer per share price ?
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Nobletrading.com is the closest I could find after extensive research. They don't have a stock screener though which has stopped me from going to them so far. If they would get one I would be there in a jiffy.
 
Quote from dinoman:

Nobletrading.com is the closest I could find after extensive research. They don't have a stock screener though which has stopped me from going to them so far. If they would get one I would be there in a jiffy.
More...

I got my hopes up then I noticed the $3.95 minimum per trade on the per share plan. What a crock of s%$&.
 
Quote from CeNY:

I got my hopes up then I noticed the $3.95 minimum per trade on the per share plan. What a crock of s%$&.
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If your an active trader call them up and tell them what you getting now. Its called bargaining. Plus if you read the site you would see the picture better.

It was just stating what i found the most comparable.
 
Seaside,

Regarding your SIPC question, the max protection is $100k per client, not account. FYI, Schwab provides additional protection through Lloyds. IF the account has 'cash' invested in money market funds, this would technically be classified as securities, not cash. SIPC protects up to $400,000 in securities (in addition to the $100k in cash).

As for the webinar, I can confirm that we are indeed hosting a live presentation Wednesday afternoon. I'll be one of the presenters, so bring your questions. As for the webinar link, call in and we'll email that right over.

Thanks,
 
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