Post by Cosmic on Mar 15, 2010 22:28:57 GMT -5
List of Brokerages
Feel free to list brokers with their pros and cons as well as how you set yourself up.
Interactive Brokers
Pros
Cheap Commision,
Can trade futures, stocks, currencies all in one place.
Cons
Bad Customer service, although I've never had a problem with them personally.
The most awful charts I've ever seen.
Dualism: Worst feature of IB is that its computers close out one's positions if the account hits a margin call to meet the maintenance requirements.
I believe they offer no 3 to 4 days for meeting a house margin call like most brokers do.
If ya trade futures, which is always on margin, ya can be taken out in a fast market.
Otherwise, IB is great for cash players.
Futures are very tough and highly manipulated. Don't trade them until you have prepared yourself well. Learn how to hedge if ya trade futures otherwise they will eventually get you.
I believe they offer no 3 to 4 days for meeting a house margin call like most brokers do.
If ya trade futures, which is always on margin, ya can be taken out in a fast market.
Otherwise, IB is great for cash players.
Futures are very tough and highly manipulated. Don't trade them until you have prepared yourself well. Learn how to hedge if ya trade futures otherwise they will eventually get you.
cosmic: TD Ameritrade
Pros
TOS interface with great charting and Prophet(tm)
Going to be able to trade everything in once place soon
Decent customer service
Cons
Commission (9.99 flat) can be a lot for some
Technical issues (lockups)
timber: just2trade
extremely cheap and great on getting short shares[/quote]
poorhomey: Figured this was worth adding here for folks who use TDA.
iStockManager is a free mobile app that's available for the Blackberry, Iphone, and Andoid platforms.
It's incredibly feature rich for a Cell phone app, and includes:
The folks who make it are relentlessly improving it, and new versions are available frequently.
Their support is also great, especially considering the fact it's "free" software.
Downsides:
Occasional hiccups with streaming/login
Occasional issues w/charts - particularly during AH
Will DEVOUR your battery if left running, particularly if you've got a ton of symbols on your current list.
I recorded a video of it the other day - it's sped up a bit but gives an overview of what it's like. It runs very well on a Blackberry 8900 (even over Tmobile/EDGE) I've compared it to quotes displayed on TDA Command Center and it's been pretty much tick-for-tick identical so it's fairly suitable for real-time trades.
Available from:
www.istockmanager.com/
iStockManager is a free mobile app that's available for the Blackberry, Iphone, and Andoid platforms.
It's incredibly feature rich for a Cell phone app, and includes:
- Streaming live quotes (Delayed quotes available for non TDA users)
- Level 2
- Multiple time frame charts w/customizable indicators
- Options
- News w/customizable source selection
- Ability to place/change/cancel orders - trade from any screen
- PM/AH trading.
- Watchlists synchronized with those saved on the
TDA site. - Vibrate notification upon order execution
- Daily P/L info
- Option to automatically disable dimming of phone backlight.
The folks who make it are relentlessly improving it, and new versions are available frequently.
Their support is also great, especially considering the fact it's "free" software.
Downsides:
Occasional hiccups with streaming/login
Occasional issues w/charts - particularly during AH
Will DEVOUR your battery if left running, particularly if you've got a ton of symbols on your current list.
I recorded a video of it the other day - it's sped up a bit but gives an overview of what it's like. It runs very well on a Blackberry 8900 (even over Tmobile/EDGE) I've compared it to quotes displayed on TDA Command Center and it's been pretty much tick-for-tick identical so it's fairly suitable for real-time trades.
Available from:
www.istockmanager.com/
If you would like to add additional items to the List of Brokerages section, please PM a Moderator who will incorporate your submission into this thread.