I have not had much time lately to do my homework on this but I would like to get some feedback from some people and thier experiences with sites like Etrade and TDwaterhouse. I have a little bit of money that I want to start trading with and would like to know what the best website for this is. Thanks for the help!
2006-07-20 03:08:51 · 5 answers · asked by ufdan25 2 in Business & Finance ➔ Investing
What you're asking about is a broker, but probably what you should be investigating is the trading platform. All electronic brokers are the same if you are talking about Direct Accces, and all are definately not. You will have to ask. Many say they are, but not all of them are.
Although transaction cost is a factor, it should not determine the "best" broker. Neither should "ease of use." You will grow and learn as a trader, and you don't want to grow out of the simple "front end" and have to switch.
There is not just one online broker for everyone, just like there is not one computer for everyone. Each has to be tailored to the application. You don't just buy a Dell, or an IBM name. You may need more or less storage, memory, and processor speed.
Whoever answers this question, will give you the broker that they have settled on and now use. But their criteria are different than yours, and you don't tell us what yours are.
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.
What you should try is a free trial of their Investor platform, which is free. You only get one window to trade from. I use RealTick with five monitors, but I pay $175/mo for this sizzlin' package. Otherwise, RealTick and Investor programs are essentially the same. 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.
2006-07-20 03:44:52 · answer #1 · answered by dredude52 6 · 1⤊ 1⤋
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2015-01-25 00:06:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Etrade or Charles Schwab. I prefer Charles Schwab.
2006-07-23 21:52:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I really like Scottrade. Check them out. Never had a problem.
2006-07-20 03:12:11 · answer #4 · answered by shake_um 5 · 0⤊ 0⤋
Sharekhan / Indiabulls if you are an Indian.
2006-07-20 03:12:04 · answer #5 · answered by Electric 7 · 0⤊ 0⤋
Ameritrade is good
2006-07-20 03:11:56 · answer #6 · answered by Anonymous · 0⤊ 0⤋