I am looking for a good brokerage firm that offers unlimited trades for a flat monthly/yearly fee and also offers me the ability to buy stocks on margin. Do you have any suggestions?
2006-07-06 06:30:57 · 4 answers · asked by mahaffeych 1 in Business & Finance ➔ Investing
You don't give us much info here, or what your criteria are or your agenda or goals. I'm not even sure what you're talking about, unless it is some elite club for the million-dollar-man.
Are you trading stocks, commodities, futures, options, or all of these? If the latter, TerraNova is the only one that you can trade everything, real time, online, direct access. A lot of online brokerages claim to give you direct access, but if they take more than a second to execute your trade, it aint direct.
Find the articles online that have evaluated and compared online brokerages. I found a good one online in Barron's, but you'll find others in the trading magazines.
This is worth putting a little time and effort into, because it's a pain to switch, so once you choose, you're kinda stuck with it.
Townsend Electronics, the Parent company of TerraNova, is the one that digitized and electronified the Nasdaq. They are technological industry leaders and have a powerful and well built trading system.
I use RealTick at TerraNovaOnline, but it costs $275/mo, even though it is unlimited what you can do with it. I think the Investor package is free to use, and just uses one screen.
What you should try is a free trial of their Investor platform, which is free. You only get one window to trade from. Their rates are good also, but of course, it depends on how often you trade. It will take you months to learn all the bells and whistles of what this program can do.
The other top-of-the line program is TradeStation, but it costs big bucks to join and operate. Some people consider it the Cadillac of trading and technical analysis.
TerraNova is the home of the Day Trader, so they think nothing of you making several hundred trades a day. You don't have to do that, but it's okay here if you do. If you are an active trader, commissions go down to $2 per trade.
2006-07-06 18:27:32 · answer #1 · answered by dredude52 6 · 1⤊ 0⤋
I use MB Trading. Trades are $0.01 (one penny) per share, with a minimum of $1 per trade. They offer no research or advice, but their MBT Navigator is an excellent trading program (includes Level II and advanced order types). Most importantly, it is direct access, which means your order is not delayed by passing through the brokerage. Your orders go directly to the exchange, where you can actually see them immediately. You can find other direct access brokers by searching in on the Internet.
2016-03-27 06:32:22 · answer #2 · answered by Michele 4 · 0⤊ 0⤋
First this is somewhat dependant on how much money you have to work with. Seconod there is no such thing as a "good" Brokerage firm. Finally, this may/might be dependant upon your objectives/risk tolerance.
My advice is to educate yourself on investing get the best impartial advice you can (you won't get that from a Broker) and than try www.interactivebrokers.com.
2006-07-06 07:16:55 · answer #3 · answered by thebigm57 7 · 0⤊ 0⤋
The service you are looking for is called "wrap-fee account" and is usually available only to investors with substantial assets.
2006-07-06 07:42:44 · answer #4 · answered by NC 7 · 0⤊ 0⤋