What is a GOOD on-line trading service and why?

Question

I am considering trading on-line but am trying to do a little homework. Help if you can.

Answer 1

There are quite a few options open to you. The best will depend on your particular requirements.

Is excellent research material important to you?

Is excellent technical indicators important to you?

Are you looking for the cheapest execution of orders?

Are margin rates important to you?

Are you wanting to do day trading or more long term investing?

I have not tried them all. Of the ones I have tried, I like Fidelity because of their research material. I like TD Ameritrade for their trading charges, but their interest rates on cash balances leave a great deal to be desired. I prefer their site layout to Fidelity's--less cluttered.

I have been thinking of using Etrade, but have not decided. I have been thinking of posting a question about what people think of Etrade.

Answer 2

The key word in your question here is "trading" service. All right, we have another trader willing to step up to the plate.

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.

I trade futures and commodities, and some day I want to trade stocks again also. Actually I'm concentrating on Currencies right now.

TerraNovaOnline is the only broker I know of that does it all. And very few of all of the online brokers out there are true Direct Access. If your trade takes more than one second to execute, then it ain't Direct Access. You won't know until the account is set up, unless you ask. Don't just ask them if they give you Direct Access to the trading floor, ask them "Will my trade execute in less than one second or less?"

Along with a very sophisticated and professional charting package and trading platform, TerraNovaOnline is the only online broker I know of that gives you all of this.

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: Active Trader, Futures Mag, etc.

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. I think the Investor package is free to use, and just uses one screen. Try their demo free trial.

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.

Another expensive charting package to use is FutureSource.

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.

Answer 3

Lowtrades offers a good service for buying and selling on US markets. They offer limit, stop and stop limit as part of the service. They do not offer advice on specific stocks, its up to you to do your own research and then take the plunge.
Cost is low, $5 per trade, less if you do a lot of trading.
I an non US resident and have been using them for 2 years with no complaints

Answer 4

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