Garsworld Trading Academy Overview of 20 Main Brokers

Size: px
Start display at page:

Download "Garsworld Trading Academy Overview of 20 Main Brokers"

Transcription

1 Garsworld Trading Academy Overview of 20 Main Brokers Broker Has Webbased Platform(s)? Has its own Software-based Platform(s)? Integration with 3rd-party Software? Has Mobilebased Platform? ChoiceTrade Cobra Trading Ditto Trade E*Trade eoption Fidelity Interactive Brokers Just2Trade Lightspeed Trading MB Trading OptionsHouse Questrade (no US) Schwab Scottrade SogoTrade SpeedTrader TD Ameritrade TradeKing TradeMonster TradeStation

2 One trader s personal opinion / experience with lots of stock trading software: For simple active stock trading, I have enjoyed most aspects of MB Trading s MBT Desktop Pro and Schwab s Streetsmart Edge. They offer flexible layouts, have efficient order entry boxes, and have some nice little useful features like being able to tell from the Level 2 box whether a stock is easily shortable. NinjaTrader and QuoteTracker are two great pieces of software for highly-customizable real-time streaming charts (but you will need to pay a monthly fee like $18 to $65 for a 3rd-party data feed if you don t have an account with a broker they integrate with like TD Ameritrade, Interactive Brokers, or MB Trading). I have heard nothing but good things about TradeStation s software. Lightspeed Trader is an excellent fast direct access day trading platform used by many professional traders. Its main weakness is its charts (but you can get charts elsewhere). Other trading platforms commonly used by professional traders include Sterling Trader Pro and RealTick. I did not like how cumbersome TD Ameritrade s Thinkorswim is. ScottradeElite did not impress me much. Fidelity s ActiveTrader Pro was just average. Andrew from Boston Comparison of Brokers Per-Share Commission Rates: Broker Interactive Brokers ChoiceTrade TradeStation SpeedTrader Lightspeed Trading eoption Cobra Trading MB Trading Questrade (no US) Per-Share Rate(s) All-in rate of $0.005 ($1 minimum; no ECN fees/rebates); or $ /- ECN fees/rebates $ ($1.50 minimum) +/- ECN fees/rebates All-in rate of $0.01 for the first 500 shares and then $0.006 ($1 minimum; no ECN fees/rebates) $ ($0.99 minimum) + ECN fees [Ask for the rebates!] $ ($1 minimum) +/- ECN fees/rebates $ /- ECN fees/rebates [There might be a minimum] $0.005 ($1 minimum) +/- ECN fees/rebates $ ($4.95 minimum) +/- ECN fees/rebates $0.01 ($4.95 minimum) + ECN fees

3 Comparison of Brokers Per-Trade Commission Rates: Broker Per-Trade Rate Comments Just2Trade $2.50 eoption $3.00 Must have 2 yrs. of online trading experience. Decent web-based platform; streaming Level 2. Has separate quote software with streaming charts and streaming Level 2. SogoTrade $3.00 Web-based with some streaming quotes. OptionsHouse $3.95 Web-based with streaming quotes and many tools (esp. options ones). Nice low margin rate. Lightspeed Trading $4.50 +/- ECN fees/rebates Good rate if you trade large size at once and will usually be adding liquidity using limit orders. MB Trading $4.95 Good software with fast execution; low fees. Questrade $4.95 Broker for Canadians. No U.S. accounts. TradeKing $4.95 Good customer service but no software platform. ChoiceTrade $5.00 Multiple software choices but with fees. Cobra Trading $5.00 Venom web platform with streaming quotes. TradeStation $6.99 Good software. Can directly route 5,000 shares with no extra fee (good for removing liquidity). SpeedTrader $ ECN fees Alternative to Lightspeed. Request rebates! Ditto Trade $6.95 Used to follow another person s trades. Scottrade $7.00 Average software; no direct access capability. TradeMonster $7.95 No software but has a low margin rate. Fidelity $7.95 You can directly route orders for free (so good for large-share-size orders that remove liquidity). Schwab $8.95 Good software. You can do free direct routing. TD Ameritrade $9.99 Integrates with lots of 3rd-party software. Free data (including Level 2) even if not very active. E*Trade $9.99 Costs $0.005/share extra for direct routing.

4 Comparison of Brokers Commission Rates for Options: Broker Rate(s) for Options Trading 10 Contracts eoption $3 + $0.10 per contract $4.00 Interactive Brokers $0.25 to $0.70 per contract ($1 minimum) $2.50 to $7.00 Lightspeed Trading $0.60 per contract ($1 minimum) $6.00 ChoiceTrade $5 + $0.15 per contract $6.50 Just2Trade $ $0.50 per contract $7.50 MB Trading $0.95 per contract (No minimum) $9.50 OptionsHouse $1 per contract ($5 minimum), or $ $0.15 per contract $10.00 TradeStation $1 per contract (No minimum) $10.00 SpeedTrader $1 per contract (No minimum) $10.00 SogoTrade $5 + $0.50 per contract $10.00 TradeKing $ $0.65 per contract $11.45 TradeMonster $0.50 per contract ($12.50 minimum) $12.50 Schwab optionsxpress $12.95 flat rate up to 10 contracts, $1.25 per contract for over 10 contracts $12.95 Ditto Trade $ $0.75 per contract $14.45 Cobra Trading $5 + $0.95 per contract $14.50 Fidelity $ $0.75 per contract $15.45 E*Trade $ $0.75 per contract $15.49 Schwab regular $ $0.75 per contract $16.45 TD Ameritrade $ $0.75 per contract $17.49 Scottrade $7 + $1.25 per contract $19.50 Questrade (no US) $ $1 per contract $19.95

5 ChoiceTrade # Website: # Commissions: $5 per trade; or $ per share (with a $1.50 # minimum) +/- ECN fees/rebates using their ChoiceTrader Direct Pro # software # Options Commissions: $5 per trade + $0.15 per contract # # ChoiceTrader Direct Pro (DAS Trader Pro) software-based # # platform (has a $49.95 per month software fee or $79.95 per # # month for Level 2 version) # # ChoiceTrader Select (Bon Trade) software-based platform # # (has a $126 per month software fee; powered by esignal) # # web-based QuoteStream platform with streaming quotes # # (costs $9.95 per month but free if you do at least 5 trades per # # month) # # web-based QuoteStream Pro platform with streaming quotes, # # time & sales data, and advanced charts (costs $19.95 per # # month; Level 2 costs an additional $10 per month) # Clearing Firm: Apex Clearing Corporation # Usually Routes Your Stock Orders To (if not doing direct routing): # # Citadel, Cowen & Company, ARCA, Knight, Goldman Sachs # # No minimum required to open a cash account and $2,000 # # required for a margin account. # # You can trade during extended hours (8:00 am to 9:30 am and # # 4:00 pm to 8:00 pm). An additional charge may apply.

6 Cobra Trading # Website: # Commissions: $0.005 per share (with a $1 minimum) +/- ECN fees/! rebates; or $5 per trade using their web-based Venom platform # Options Commissions: $5 per trade + $0.95 per contract # # RealTick software-based direct access platform (has a $250 # # per month software fee - rebated if you trade 200,000 shares in # # the month) # # Sterling Trader Pro software-based direct access platform # # (has a $250 per month software fee - rebated if you trade # # 200,000 shares in the month) # # CobraIQ (InstaQuote) software-based direct access platform # # (commissions are an extra $0.001 per share using this; has a # # $125 per month software fee - rebated if you trade 75,000 # # shares in the month) # # web-based Venom platform with streaming quotes # Clearing Firm: Apex Clearing Corporation # Usually Routes Your Stock Orders To (if not doing direct routing): # # Knight, Goldman Sachs, Citadel, Lavaflow, Two Sigma # # Offers a couple of free routes to remove liquidity. # # They offer a lower commission of $0.004 per share if you # # trade more than 250,000 shares per month. # # Requires a $2,500 minimum initial deposit to open an account. # # You can trade during extended hours (6:00 am to 9:30 am and # # 4:00 pm to 8:00 pm). An additional charge may apply.

7 Ditto Trade # Website: # Commissions: $6.95 per trade # Options Commissions: $6.95 per trade + $0.75 per contract # # DT Squared software-based platform (has a $25 per month # # software fee but these fees are waived if you do at least 25 # # trades a month) # # web-based platforms with streaming quotes # Clearing Firm: Apex Clearing Corporation # Current Maximum Margin Rate Charged: 6.95% # Usually Routes Your Stock Orders To: # # Knight, Goldman Sachs, Citadel, Lavaflow, Two Sigma # # Platform can be used to follow some or all of the trades of # # other #traders. If you attract other Ditto Trade users to follow # # your own trades they will gradually lower your stock # # commissions from $5.95 per trade (with 1 follower) down to $0 # # per trade (with at least 18 followers). # # No minimum required to open a cash account and $2,000 # # required for a margin account. # # They charge a $1 per month data fee (reimbursed after you do # # 2 trades monthly). # # Doesn t currently offer extended hours trading.

8 E*Trade # Website: # Commissions: $9.99 per trade (or $7.99 per trade if you do 150+ # trades a quarter; $6.99 per trade if you do 1,500+ trades a quarter) # Options Commissions: $9.99 per trade + $0.75 per contract (or $7.99 # per trade + $0.75 per contract if you do 150+ trades a quarter; $6.99 # per trade + $0.75 per contract if you do 1,500+ trades a quarter) # # E*Trade Pro software-based platform (available if you do at # # least 30 trades a quarter Pro Elite customers) # # E*Trade 360 web-based platform with streaming quotes # Clearing Firm: Self-clearing # Current Maximum Margin Rate Charged: 8.44% # Usually Routes Your Stock Orders To (if not doing direct routing): # # E*Trade Capital Markets, Knight, EDGX, Citigroup # # Has reputation for good customer service. # # With E*Trade Pro you can directly route orders to ARCA, # # NSDQ, and NYSE for an additional cost of $0.005 per share. # # Requires a $500 minimum initial deposit to open a cash # # account and $2,000 for a margin account. # # For an additional cost of $0.005 per share you can trade in # # extended hours (8:00 am to 9:30 am and 4:00 pm to 8:00 pm).

9 eoption # Website: # Commissions: $3 per trade; or $0.005 per share +/- ECN fees/ # rebates (using one of the 3 software-based direct access platforms) # Options Commissions: $3 per trade + $0.10 per contract # # web-based platform with streaming quotes and streaming time & sales data; # # streaming charts and Level 2 available via Quotestream Desktop ($15+ monthly fee # # waived if do 10+ trades a month) # # Sterling Trader Pro software-based direct access platform (has a $250 per month # # software fee) # # OmniPro software-based direct access platform ($100 per month software fee) # # eoption Direct software-based direct access platform (50 per month software fee) # Clearing Firm: Apex Clearing Corporation # Current Maximum Margin Rate Charged: 5.00% # Usually Routes Your Stock Orders To (if not doing direct routing): # # Knight, Goldman Sachs, Citadel, Lavaflow, Two Sigma # # Their direct access platforms may require paying additional # # data fees of $11 per month for Level 1 and Level 2 quote feeds. # # You can trade during extended hours (8:00 am to 9:30 am and # # 4:00 pm to 6:00 pm) for a fee of $25 for up to 5,000 shares # # ($0.003 per share if more than 5,000 shares). # # They charge an annual $50 inactivity fee for accounts when # # there are less than 2 trades in the past 12 months or if there are # # less than $10,000 in credit or debit balances.

10 Fidelity # Website: # Commissions: $7.95 per trade # Options Commissions: $7.95 per trade + $0.75 per contract # # Active Trader Pro software-based platform available to those # # who do 36+ trades in a 12-month period (120+ trades # # in a 12-month period required to receive the full advanced # # features) # # ActiveTraderPro.com web-based platform with streaming # # quotes (must do 120+ trades in a 12-month period) # # web-based platform with snapshot quotes and strategy testing # # Wealth-Lab Pro software for more advanced strategy testing # # (must do 120+ trades in a 12-month period and have a # # $25,000+ account) # Clearing Firm: Self-clearing # Current Maximum Margin Rate Charged: 8.575% # Usually Routes Your Stock Orders To (if not doing direct routing): # # Citadel, Knight, UBS, Citigroup, Goldman Sachs, EDGX, # # BATS, ARCA, National Financial Services LLC (Fidelity owns) # # Has reputation for good customer service. # # With Active Trader Pro you can directly route orders to!! ARCA, NSDQ, NYSE, and more for no additional cost. # # Requires a $2,500 minimum initial deposit to open an account. # # For no additional cost you can trade during extended hours # # (7:00 am to 9:30 am and 4:00 pm to 8:00 pm).

11 Interactive Brokers # Website: # Commissions: $0.005 per share all-in rate ($1 minimum; 0.5% # trade #value maximum; no ECN fees); or $ per share +/- ECN! fees/rebates (just $0.002 per share for shares exceeding 300,000 # shares in a month) # Options Commissions: Usually $0.25 to $0.70 per contract # depending #on the premium (with a $1 minimum per order). # # Trader Workstation software-based platform with lots of # # features; Trader Workstation has a web-based version too # # integrates with some 3rd-party software such as NinjaTrader # # WebTrader alternate web-based platform with snapshot # # quotes # # Clearing Firm: Self-clearing # Current Maximum Margin Rate Charged: 1.66% # Usually Routes Your Stock Orders To (if not doing direct routing): # # NSDQ, NYSE, BATS, ARCA, Credit Suisse CrossFinder # # $10 per month data fee (waived if commissions $30). # # Requires $10,000 to open an account (just $3,000 if under 27 # # years old). # # Has its short sale list readily available. # # Offers a paper trading account. # # Has a $10 minimum monthly commission requirement ($3 if # # under 26 years old; $20 if account is less than $2,000).

12 Just2Trade # Website: # # Commissions: $2.50 per trade # Options Commissions: $2.50 per trade + $0.50 per contract # Platform: web-based platform with streaming quotes (including free # Level 2), streaming charts, and streaming time & sales data # Clearing Firm: COR Clearing LLC # Current Maximum Margin Rate Charged: 5.25% # Usually Routes Your Stock Orders To: # # Goldman Sachs, UBS, E-Trade, Citigroup, Cowen & Company # # Requires that you have at least 2 years of online trading!! experience and can maintain at least a $2,500 balance. # # Not available for people in New Hampshire or North Dakota. # # For an additional cost of $0.003 per share you can trade in # # extended hours (7:00 am to 9:30 am and 4:00 pm to 8:00 pm). # # They now make their easy-to-borrow short sale list available # # to account holders.

13 Lightspeed Trading # Website: # Commissions: $4.50 per trade +/- ECN fees/rebates or $ per! share (with a $1 minimum) +/- ECN fees/rebates; or $3 per trade # (using their non-direct-access Lightspeed WebTrader platform) # Options Commissions: $0.60 per contract (with a $1 minimum) # # Lightspeed Trader software-based direct access platform with # # lots of advanced active trading features (has a $10.00 per # # month cost for the Level 2 data bundle) # # Lightspeed WebTrader web-based platform with snapshot # # quotes # Clearing Firm: Apex Clearing Corporation # Current Maximum Margin Rate Charged: 6.00% # Usually Routes Your Stock Orders To (if not doing direct routing): # # Credit Suisse, PDQ ATS # # LightSpeed has its own LSPT route which charges just # # $ extra per share regardless of whether you remove # # liquidity. # # In order to use Lightspeed Trader there is a funding # # requirement of at least $25,000. To use Lightspeed WebTrader # # you must deposit at least $5,000. # # You can trade during extended hours using Lightspeed Trader # # for no additional fee. # # The Level 2 box in Lightspeed Trader can be directly linked to # # esignal charts. # # Offers a paper trading account.

14 MB Trading # Website: # Commissions: $4.95 per trade; or $ per share (with a $4.95 # minimum) # Options Commissions: $0.95 per contract (with no minimum) # # multiple software-based platforms with lots of features # # integrates with some 3rd-party software such as NinjaTrader # # web-based platforms with streaming quotes and Level 2 # Clearing Firm: Apex Clearing Corporation # Current Margin Rate Charged: 7.45% # Usually Routes Your Stock Orders To: # # Credit Suisse, Getco, ARCA, NSDQ, BATS # # Has reputation for good customer service. # # Has its easy-to-borrow short sale list readily available. # # Streaming data costs $6 per month (but is free if you pay at # # least $25 per month in commissions). Level 2 data costs $10 # # per month (but is free if you do 10+ trades at the $4.95 rate). # # Offers paper trading accounts for stocks. # # Requires a $1,000 minimum initial deposit to open a cash # # account and $2,000 for a margin account. # # For an additional cost of $0.005 per share you can trade in # # extended hours (7:30 am to 9:30 am and 4:00 pm to 8:00 pm). # # There is no additional cost if you re already doing the per-share # # commission plan.

15 OptionsHouse # Website: # Commissions: $3.95 per trade # Options Commissions: $1 per contract ($5 minimum commission); or # $8.50 per trade + $0.15 per contract # Platform: web-based platform with streaming quotes and many tools # Clearing Firm: Apex Clearing Corporation (owned by PEAK6 - the # parent company of OptionsHouse) # Current Maximum Margin Rate Charged: 4.00% # Usually Routes Your Stock Orders To: UBS, Citigroup, Citadel # # Has reputation for good customer service. # # Offers paper trading accounts for both stocks and options. # # Requires a $1,000 minimum initial deposit to open a cash # # account and $2,000 for a margin account. # # For no additional cost you can trade during extended hours # # (8:00 #am to 9:30 am and 4:00 pm to 5:00 pm).

16 Questrade (for Canadians) # Website: # Commissions: # # $0.01 per share (with a $4.95 minimum and $9.95 # # maximum); or # # $4.95 per trade (with a $89.95/monthly fee for Questrade # # Advantage active trader program - rebated if you do 100+ # # trades a month) # Options Commissions: $9.95 per trade + $1.00 per contract # # web-based platform with streaming quotes # # software-based platform IQ Edge with extra features # Clearing Firm: Self-clearing (by end of 2012) # Current Maximum Margin Rate Charged: 6.25% # # Does not accept U.S. accounts but popular for Canadians. # # You can directly route your orders to NYSE, NSDQ, or ARCA # # for an additional fee of $0.003 to $0.004 per share if you # # remove liquidity. They apparently do not give you ECN rebates. # # Level 2 data for an additional fee of $19.95 per month. # # Requires a $1,000 initial deposit to open an account. # # You can trade during extended hours (8:00 am to 9:30 am and # # 4:00 pm to 5:30 pm). # # They sometimes charge a quarterly $19.95 inactivity fee if # # your account is less than $5,000 and you don t place at least # # one trade during the quarter, but there are some exceptions.

17 Schwab # Website: # Commissions: $8.95 per trade # Options Commissions: # # $8.95 per trade + $0.75 per contract # # Using optionsxpress a flat rate of $12.95 or $14.95 for up to 10 # # contracts and $1.25 or $1.50 per contract for more than 10 contracts # # (depending on whether you do 35+ options trades a quarter). # # StreetSmart Edge software-based platform for Active Trading # # clients (free Level 2 if you do at least 30 trades a quarter) # # web-based platforms with streaming quotes # # optionsxpress web-based and software-based platforms with # # lots of options trading tools (currently requires opening a # # separate account since optionsxpress not yet fully integrated) # Clearing Firm: Self-clearing # Current Maximum Margin Rate Charged: 8.50% # Usually Routes Your Stock Orders To (if not doing direct routing): # # UBS (more than 99% of the time) # # Has reputation for good customer service. # # You can directly route orders to ARCA and NSDQ for no!! additional cost. # # Requires a $1,000 minimum initial deposit to open a cash # # account and $5,000 for a margin account. # # Can paper trade options (via optionsxpress) and stocks. # # For no additional cost you can trade during extended hours # # (8:00 am to 9:30 am and 4:00 pm to 8:00 pm).

18 Scottrade # Website: # Commissions: $7 per trade # Options Commissions: $7 per trade + $1.25 per contract # # ScottradeElite software-based platform available to those # # with a $25,000+ account (can get Nasdaq TotalView and # # Level 2 for $15 monthly fee waived if do 15+ trades a month; # # can get just Level 2 for $10 monthly fee waived if do 10+ # # trades a month) # # Scottrader web-based platform with streaming quotes, charts, # # and time & sales # Clearing Firm: Self-clearing # Current Maximum Margin Rate Charged: 7.75% # Usually Routes Your Stock Orders To (if not doing direct routing): # # Knight, Citadel, UBS, Citigroup, Lavaflow, EDGX, E*Trade # # Has reputation for good customer service. # # Requires a $500 minimum initial deposit to open a cash # # account and $2,000 for a margin account. # # Offers paper trading for both stocks and options. # # For no additional cost you can trade during extended hours # # (7:00 am to 9:30 am and 4:00 pm to 8:00 pm).

19 SogoTrade # Website: # Commissions: $3.00 per trade # Options Commissions: $5.00 per trade + $0.50 per contract # Platform: web-based platform with streaming quotes # Clearing Firm: Apex Clearing Corporation # Current Maximum Margin Rate Charged: 6.50% # Usually Routes Your Stock Orders To: Citigroup, Knight, Citadel, UBS # # Requires a $500 minimum initial deposit to open a cash # # account and $2,000 for a margin account. # # For an additional cost of $0.005 per share you can trade in # # extended hours (8:00 am to 9:30 am and 4:00 pm to 6:00 pm).

20 SpeedTrader # Website: # Commissions: $ per share (with a $0.99 minimum) + ECN! fees; or $6.95 per trade + ECN fees # Options Commissions: $1 per contract (with no minimum) # # SpeedTrader Pro (DAS Trader Pro) software-based # # direct access platform (has a $49 per month software fee or # # $104 per month for Level 2 version but these fees are waived # # if you generate commissions that month equal to the total # # amount of the fees) # # Sterling Trader Pro software-based direct access platform # # (has a $250 per month software fee which includes Level 2) # # web-based platform SpeedTrader 2.0 with streaming quotes, # # streaming news, and charting # Clearing Firm: Apex Clearing Corporation # Usually Routes Your Stock Orders To (if not doing direct routing): # # JP Morgan, ITG, Lampost Capital, Knight, Goldman Sachs, # # Citadel, Lavaflow, Two Sigma, EDGX # # ECN rebates may be available upon request. # # Offers several free routes to remove liquidity. # # $1,000 required to open a cash account and $2,000 # # required for a margin account. # # They offer a free paper trading account. # # They charge a quarterly $30 inactivity fee if you don t place at # # least 15 trades during the quarter.

21 TD Ameritrade # Website: # Commissions: $9.99 per trade # Options Commissions: $9.99 per trade + $0.75 per contract # # integrates with some 3rd-party software such as NinjaTrader # # Thinkorswim software-based platform with streaming quotes, # # charts, Level 2, streaming news, and streaming CNBC # # Trade Architect web-based platform with streaming quotes, # # charts, Level 2, streaming news, and streaming CNBC # Clearing Firm: Self-clearing # Current Maximum Margin Rate Charged: 9.00% # Usually Routes Your Stock Orders To (if not doing direct routing): # # Citadel, Citigroup, Knight, EDGX # # Has reputation for good customer service. # # Offers free Level 2 and streaming quotes with no activity!! requirements.!! No minimum required to open a cash account and $2,000 # # required for a margin account. # # Offers paper trading for both stocks and options. # # For no additional cost you can trade during extended hours # # (8:00 am to 9:30 am and 4:00 pm to 8:00 pm).

22 TradeKing # Website: # Commissions: $4.95 per trade # Options Commissions: $4.95 per trade + $0.65 per contract # Platform: web-based platforms with streaming quotes # Clearing Firm: Apex Clearing Corporation # Current Maximum Margin Rate Charged: 8.75% # Usually Routes Your Stock Orders To: Citadel, Knight # # Has reputation for good customer service. # # Requires a $2,000 minimum initial deposit to open a margin # # account. No minimum in order to open a cash account. # # They charge an annual $50 inactivity fee if your account is # # less than $2,500 and you did not place at least one trade in the # # last 12 months. # # For no additional cost you can trade during extended hours # # (8:00 am to 9:30 am and 4:00 pm to 5:00 pm).

23 TradeMonster # Website: # Commissions: $7.50 per trade # Options Commissions: $0.50 per contract (with a $12.50 minimum! and $15 minimum for spreads) # Platform: web-based platform with streaming quotes and many tools # Clearing Firm: Apex Clearing Corporation # Current Maximum Margin Rate Charged: 3.50% # Usually Routes Your Stock Orders To: Citadel, Knight, BATS # # Options-focused broker with reputation for good customer # # service. # # Has special cheaper commission rates for those who trade # # more than 10,000 option contracts per month. # # Has lots of online options tools and offers paper trading. # # Requires a $2,000 minimum initial deposit to open an account. # # For a steep extra cost of $0.015 per share you can trade in # # extended hours (8:00 am to 9:30 am and 4:00 pm to 5:00 pm).

24 Trade Station # Website: # Commissions: # # $6.99 per trade (at least 30 trades per month), $7.99 per # # trade (10 to 29 trades), $9.99 per trade (1 to 9 trades); or # # $0.01 per share for the first 500 shares and $0.006 per share # # thereafter (with a $1 minimum; includes all ECN fees) # Options Commissions: $1 per contract (with no minimum) # # TradeStation comprehensive software-based direct access # # platform with very advanced strategy testing tools (has a # # $99.95 per month software fee waived if you traded 5,000 # # shares or 50 option contracts) # # TradeStation Web Trading web-based platform # Clearing Firm: Self-clearing # Current Maximum Margin Rate Charged: 8.50% # Usually Routes Your Stock Orders To (if not doing direct routing): # # EDGA, Getco, NQBX, EDGX, Citigroup, Knight, BATY # # Has reputation for good customer service. # # You can directly route orders under the per-trade plan too # # (there s no additional charge up to 5,000 shares; $0.005 per # # share extra for shares in excess of 5,000). # # It will cost you approximately $12 per month for real-time data # # (including Level 2). # # Requires maintaining at least a $5,000 account balance. # # Offers paper trading capabilities.

SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2013

SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2013 Member: Finra and SIPC SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2013 Securities Listed on New York Stock Exchange Summary Statistics: Non-directed orders as percentage of total customer

More information

PRUDENTIAL INVESTMENT MANAGEMENT SERVICES LLC PO BOX 5320 SCRANTON, PA 18505-5320. SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2012

PRUDENTIAL INVESTMENT MANAGEMENT SERVICES LLC PO BOX 5320 SCRANTON, PA 18505-5320. SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2012 PRUDENTIAL INVESTMENT MANAGEMENT SERVICES LLC PO BOX 5320 SCRANTON, PA 18505-5320 SEC Rule 606 Quarterly Report for the Quarter Ending March 31, 2012 Summary Statistics : Securities Listed on New York

More information

0HE THE HUNTINGTON INVESTMENT CO. 41 SOUTH HIGH STREET 7TH FL COLUMBUS, OH 43215

0HE THE HUNTINGTON INVESTMENT CO. 41 SOUTH HIGH STREET 7TH FL COLUMBUS, OH 43215 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

SECURITIES SERVICE NETWORK, INC. MEMBER FINRA/SIPC 9729 COGDILL ROAD SUITE 301 KNOXVILLE, TN 37932

SECURITIES SERVICE NETWORK, INC. MEMBER FINRA/SIPC 9729 COGDILL ROAD SUITE 301 KNOXVILLE, TN 37932 SECURITIES SERVICE NETWORK, INC. MEMBER FINRA/SIPC 9729 COGDILL ROAD SUITE 301 KNOXVILLE, TN 37932 SEC Rule 606 Quarterly Report for the Quarter Ending September 30, 2015 Accounts are carried by National

More information

KCG Americas LLC Rule 606 Disclosure: DTTX and GFLO 2015-Q2

KCG Americas LLC Rule 606 Disclosure: DTTX and GFLO 2015-Q2 KCG Americas LLC Rule 606 Disclosure: DTTX and GFLO 2015-Q2 KCG Americas LLC ( KCGA or the Firm ) has prepared this report for itself pursuant to a U.S. Securities and Exchange Commission rule requiring

More information

SEC-Required Report on Routing of Customer Orders For Q1 2013

SEC-Required Report on Routing of Customer Orders For Q1 2013 SEC-Required Report on Routing of Customer Orders For Q1 2013 has prepared this report pursuant to a U.S. Securities and Exchange Commission rule requiring all brokerage firms to make publicly available

More information

Newest Trading Play: Screen Savings

Newest Trading Play: Screen Savings %www.barrons.com The dow jones business and Financial weekly MARCH 15, 2010 SPECIAL REPORT Online brokers have given investors everything from new products to new technology to new friends in the past

More information

AK3 CAPITAL ANALYSTS INC. 303 BROADWAY, SUITE 1500 CINCINNATI, OH 45202-4220. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2008

AK3 CAPITAL ANALYSTS INC. 303 BROADWAY, SUITE 1500 CINCINNATI, OH 45202-4220. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2008 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

WEEDEN & CO. LP 145 MASON STREET GREENWICH, CT 06830 203-861-7600

WEEDEN & CO. LP 145 MASON STREET GREENWICH, CT 06830 203-861-7600 WEEDEN & CO. LP 145 MASON STREET GREENWICH, CT 06830 203-861-7600 Regulation NMS - Rule 606 Disclosure of Order Routing Information For Quarter Ending December 31, 2015 Weeden & Co. LP ( Weeden ) has prepared

More information

Increasingly, these brokers must try to make intricate derivative structures understandable. And all this must be served up at credible prices.

Increasingly, these brokers must try to make intricate derivative structures understandable. And all this must be served up at credible prices. MARCH 17, 2008 SPECIAL REPORT... Making It Click: Annual Ranking Of the Best Online Brokers By THERESA W. CAREY TURNING THE COMPLICATED INTO THE SIMPLE is a basic aim of online brokerage. It means bringing

More information

In the past, mergers and acquisitions

In the past, mergers and acquisitions On-Line Discount Brokers 2008 By Cara Scatizzi comparison comparison In the past, mergers and acquisitions have played a big part in shrinking the number of firms included in our list of on-line discount

More information

HEARTLAND INVESTMENT ASSOCIATES. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2007

HEARTLAND INVESTMENT ASSOCIATES. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2007 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

E*TRADE Pro. TT_Trader Futures Platform E*TRADE 360. E*TRADE Mobile

E*TRADE Pro. TT_Trader Futures Platform E*TRADE 360. E*TRADE Mobile OUR Exclusive Program for Elite Traders Join Get the PRO Technology E*TRADE Pro Our premier fully customizable trading platform. 1 Streaming market data & analytics Stock & options idea generating tools

More information

E*TRADE Pro. TT_Trader Futures Platform E*TRADE 360

E*TRADE Pro. TT_Trader Futures Platform E*TRADE 360 OUR Exclusive Program for Elite Traders Join the Trading Elite Get the Most with Every Trade PRO Technology E*TRADE Pro Our premier fully customizable trading platform. 1 Streaming market data & analytics

More information

TR1 TRIAD ADVISORS INC. 5185 PEACHTREE PARKWAY SUITE 280 NORCROSS GA 30092. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2008

TR1 TRIAD ADVISORS INC. 5185 PEACHTREE PARKWAY SUITE 280 NORCROSS GA 30092. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2008 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

UNIONBANC INVESTMENT SERVICES PO BOX 513100 LOS ANGELES, CA 90051-1100. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2007

UNIONBANC INVESTMENT SERVICES PO BOX 513100 LOS ANGELES, CA 90051-1100. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2007 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

Table of Contents. The Investor s Guide to Choosing an Online Broker

Table of Contents. The Investor s Guide to Choosing an Online Broker Table of Contents INTRODUCTION...3 TYPES OF BROKERS...4 WEB-BASED BROKERS FOR CASUAL INVESTORS AND TRADERS...4 WEB-BASED BROKERS FOR ACTIVE TRADERS...4 SOFTWARE-BASED BROKERS FOR ACTIVE TRADERS...4 THE

More information

This Report Is For You! Options Basics

This Report Is For You! Options Basics This Report Is For You! You have in your hands a powerful report on options and the option market. We ve written this report for two types of investors those new to options trading, and for any experienced

More information

Sandler O Neill Global Securities & Electronic Trading Conference. June 2009

Sandler O Neill Global Securities & Electronic Trading Conference. June 2009 Sandler O Neill Global Securities & Electronic Trading Conference June 2009 1 Disclaimer The following information contains certain forward-looking statements that reflect the Company's current views with

More information

What is the best Charting Software?

What is the best Charting Software? What is the best Charting Software? Caveats Charting software is a very personal decision Forgive my personal biases Apologies if I offend you with my comments Everyone has a horror story & traders are

More information

Venues Receiving Significant Percentage of Total Non-Directed Orders:

Venues Receiving Significant Percentage of Total Non-Directed Orders: SEC Rule 606 - Order Routing Report Just2Trade 1900 L Street NW Suite 301 Washington, DC 20036 SEC-Required Report on Routing of Customers Orders For Quarter Ending June 30, 2014 Just2Trade has prepared

More information

As a member of AAII and reader of Computerized

As a member of AAII and reader of Computerized www.computerizedinvesting.com Volume XXXII, No. 2 Tips for Thwarting Hackers Editor s Outlook At the beginning of March, Evernote, the popular online note-taking service, reported that it had fallen victim

More information

Day Trade Warrior. Business Plan Trading as a Business

Day Trade Warrior. Business Plan Trading as a Business Day Trade Warrior Business Plan Trading as a Business I want to be a Professional Day Trader What do I need to do? Just like any other profession, if you are serious, you have to evaluate whether or not

More information

Growing up in rural America, where many still

Growing up in rural America, where many still www.computerizedinvesting.com Volume XXXI, No. 2 When Unlimited Really Isn t Editor s Outlook Comparison: Online Discount Brokers Growing up in rural America, where many still consider a verbal agreement

More information

0GP BUTTONWOOD PARTNERS, INC. 701 DEMING WAY SUITE 100 MADISON, WI 53717. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2007

0GP BUTTONWOOD PARTNERS, INC. 701 DEMING WAY SUITE 100 MADISON, WI 53717. SEC Rule 606 Quarterly Report for the Quarter Ending December 31, 2007 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

Case 1:14-cv-02811-KMW Document 2 Filed 04/18/14 Page 1 of 60

Case 1:14-cv-02811-KMW Document 2 Filed 04/18/14 Page 1 of 60 Case 1:14-cv-02811-KMW Document 2 Filed 04/18/14 Page 1 of 60 Case 1:14-cv-02811-KMW Document 2 Filed 04/18/14 Page 2 of 60 SUMMARY OF THE COMPLAINT 1. This securities class action is brought on behalf

More information

Financial Markets And Financial Instruments - Part II. How Securities are Traded? Spread. Brokerage Accounts. Commissions. Commissions: Online Brokers

Financial Markets And Financial Instruments - Part II. How Securities are Traded? Spread. Brokerage Accounts. Commissions. Commissions: Online Brokers Financial Markets And Financial Instruments - Part II How Securities are Traded? Brokerage Accounts You can choose from two types of accounts to open To open an account, you need to choose a broker Commissions

More information

The Shield, Inc. 2014 www.turnkeybroker.com support@turnkeybroker.com

The Shield, Inc. 2014 www.turnkeybroker.com support@turnkeybroker.com TurboTick PRO manual version 2.022 updated 7.7.2014 Table of Contents Contents Table of Contents... 2 Getting started in TurboTick Pro... 3 Level 2... 5 Order Entry... 8 Streamlined Order Entry... 10 Portfolio

More information

VISION PRO. Vision Pro, A Feature-Rich Analytical and Trading Platform

VISION PRO. Vision Pro, A Feature-Rich Analytical and Trading Platform VISION PRO Vision Pro, A Feature-Rich Analytical and Trading Platform A highly attractive feature that traders love to tout about Vision Pro is that it includes charts, charting analytics, an order entry

More information

INTERACTIVE BROKERS LLC A Member of the Interactive Brokers Group

INTERACTIVE BROKERS LLC A Member of the Interactive Brokers Group David M. Battan Executive Vice President and General Counsel INTERACTIVE BROKERS LLC A Member of the Interactive Brokers Group 1725 EYE STREET, N.W. SUITE 300 WASHINGTON, DC 20006 TEL (202) 530-3205 July

More information

WMC WHITE MOUNTAIN CAPITAL, LLC 65 BROADWAY SUITE 1807 NEW YORK, NY 10006

WMC WHITE MOUNTAIN CAPITAL, LLC 65 BROADWAY SUITE 1807 NEW YORK, NY 10006 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

Interactive Brokers Quarterly Order Routing Report Quarter Ending March 31, 2013

Interactive Brokers Quarterly Order Routing Report Quarter Ending March 31, 2013 I. Introduction Interactive Brokers Quarterly Order Routing Report Quarter Ending March 31, 2013 Interactive Brokers ( IB ) has prepared this report pursuant to a U.S. Securities and Exchange Commission

More information

N5J T.S. PHILLIPS INVESTMENTS INC. 3555 N.W. 58TH STREET SUITE 600 OKLAHOMA CITY, OK 73112

N5J T.S. PHILLIPS INVESTMENTS INC. 3555 N.W. 58TH STREET SUITE 600 OKLAHOMA CITY, OK 73112 Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.

More information

February 22, 2015 MEMORANDUM

February 22, 2015 MEMORANDUM February 22, 2015 MEMORANDUM Re: Due Diligence Information for Advisors, Brokers, Hedge Funds and Other Financial Institutions and Intermediaries Using or Considering Interactive Brokers LLC as Prime Broker/Custodian

More information

Understanding your account situation

Understanding your account situation Understanding your account situation This guide helps you to understand your account situation on Penson s intranet web site The first section describes what we think are the most useful pages of Penson

More information

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF1 W4OPCV. Plaintiff,

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF1 W4OPCV. Plaintiff, Case 1:14-cv03608JMF Document 2 fled 05/20/14 Page 1 of 61 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF1 W4OPCV HAREL INSURANCE CO, LTD., Individually and on Behalf of All Others Similarly Situated,

More information

Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality *

Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality * This draft: March 5, 2014 Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality * Robert Battalio Mendoza College of Business University of Notre Dame rbattali@nd.edu

More information

Case 1:14cv03133JMF Docume t Re /14- Pqe 1 of 60 UNITED STATES DISTRICT COURT J SOUTHERN DISTRICT OF NEW YORU. CLASS ACTIO Plaintiff,

Case 1:14cv03133JMF Docume t Re /14- Pqe 1 of 60 UNITED STATES DISTRICT COURT J SOUTHERN DISTRICT OF NEW YORU. CLASS ACTIO Plaintiff, Case 1:14cv03133JMF Docume t Re /14- Pqe 1 of 60 d133 UNITED STATES DISTRICT COURT J SOUTHERN DISTRICT OF NEW YORU I / HAY220j4J/ij AMERICAN EUROPEAN INSURANCE Civil Act' No.: L I COMPANY, Individually

More information

"Insider Day Trading Secrets, Tips, And Strategies Program"

Insider Day Trading Secrets, Tips, And Strategies Program "Insider Day Trading Secrets, Tips, And Strategies Program" By Bill Barrett Copyright 2002-2007 by 1stDayTradingInformation/Bill Barrett. All rights reserved. No part of this publication may be reproduced

More information

www.midnighttrader.com

www.midnighttrader.com US Canada Europe www.midnighttrader.com [the product] Live Briefs provides complete real time coverage of the pre-market, regular session and after-hours markets with industry leading corporate news and

More information

Hunt for the Best Deal Using AAII s Discount Broker Guide By Jean Henrich

Hunt for the Best Deal Using AAII s Discount Broker Guide By Jean Henrich 2006 Hunt for the Best Deal Using AAII s Discount Broker Guide By Jean Henrich FEATURE In the discount broker jungle, bargains still abound for investors who can spot them. AAII s 2006 Guide to Discount

More information

Comparative Overview of Self-Directed Brokerage Options (SDBOs)

Comparative Overview of Self-Directed Brokerage Options (SDBOs) Comparative Overview of Self-Directed Brokerage Options (SDBOs) SDBO Services PARTICIPANT SERVICES Full service brokerage offering stocks, bonds, mutual funds, CDs, Exchange Traded Funds. Full service

More information

The Ultimate Guide to Buying and Selling Penny Stocks

The Ultimate Guide to Buying and Selling Penny Stocks The Ultimate Guide to Buying and Selling Penny Stocks 1 Table of Contents Part One... Introduction to Penny Stocks 3 Penny Stock Basics? 3 Why Trade Penny Stocks? 4 Where Are Penny Stocks Traded? 4 Part

More information

Can Brokers Have it all? On the Relation between Make Take Fees & Limit Order Execution Quality*

Can Brokers Have it all? On the Relation between Make Take Fees & Limit Order Execution Quality* This draft: December 13, 2013 Can Brokers Have it all? On the Relation between Make Take Fees & Limit Order Execution Quality* Robert Battalio Mendoza College of Business University of Notre Dame rbattali@nd.edu

More information

Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality *

Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality * This draft: February 28, 2014 Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality * Robert Battalio Mendoza College of Business University of Notre Dame rbattali@nd.edu

More information

Day Trade Warrior. Introduction to Trading

Day Trade Warrior. Introduction to Trading Day Trade Warrior Introduction to Trading Introduction to Trading I m a Pattern Trader! I trade Patterns I can lose 40% of the time and still make money because I use Risk Management Principals. Over 60%

More information

The InstaQuote Solution

The InstaQuote Solution The InstaQuote Solution 1 ...a powerful strategic technology asset for today s traders Celadon Financial Group InstaQuote Solution Simple User Interface - Powerful Technology Easy to deploy and simple

More information

STATEMENT OF HEARING ON

STATEMENT OF HEARING ON STATEMENT OF STEVEN QUIRK SENIOR VICE PRESIDENT, TRADER GROUP TD AMERITRADE FOR THE UNITED STATES SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS HEARING ON CONFLICTS OF INTEREST, INVESTOR LOSS OF CONFIDENCE

More information

CFH Clearing. The Complete Trading & Technology Solution

CFH Clearing. The Complete Trading & Technology Solution CFH Clearing The Complete Trading & Technology Solution CFH Clearing CFH Clearing is one of the most respected and reputable liquidity venues and Prime of Prime clearing providers in the world, having

More information

Chapter 7: Secondary Markets: An Introduction

Chapter 7: Secondary Markets: An Introduction Chapter 7: Secondary Markets: An Introduction A. Trades, Traders, Securities and Markets A trade is a security transaction that creates a portfolio position based on an investment decision. The trade action

More information

Financial Markets And Financial Instruments - Part I

Financial Markets And Financial Instruments - Part I Financial Markets And Financial Instruments - Part I Financial Assets Real assets are things such as land, buildings, machinery, and knowledge that are used to produce goods and services. Financial assets

More information

TD AMERITRADE TO ACQUIRE THINKORSWIM

TD AMERITRADE TO ACQUIRE THINKORSWIM FOR IMMEDIATE RELEASE TD AMERITRADE TO ACQUIRE THINKORSWIM Creates Industry-Leading Trader Platform Introduces State-of-the-Art Education Program to nearly Seven Million Retail Client Accounts #1 in Equity

More information

Stocks at a Discount: AAII s Annual Broker Firm Survey By Jean Henrich

Stocks at a Discount: AAII s Annual Broker Firm Survey By Jean Henrich 2005 Stocks at a Discount: AAII s Annual Broker Firm Survey By Jean Henrich FEATURE Any shopper knows that discounters can mean big savings. And that applies even when it is investments that you are adding

More information

EOPTION ELECTRONIC ACCESS AND TRADING AGREEMENT

EOPTION ELECTRONIC ACCESS AND TRADING AGREEMENT EOPTION ELECTRONIC ACCESS AND TRADING AGREEMENT 1. Scope of Agreement. eoption, a division of Regal Securities, Inc. ( We ), agree to provide you, in accordance with this Agreement (the Agreement ), with

More information

16th Annual Credit Suisse Financial Services Forum. February 10, 2015

16th Annual Credit Suisse Financial Services Forum. February 10, 2015 16th Annual Credit Suisse Financial Services Forum February 10, 2015 2 Disclaimer The following information contains certain forward-looking statements that reflect the Company's current views with respect

More information

investment report Ameritrade Holding Corporation (AMTD) business overview From Reuters.com competition

investment report Ameritrade Holding Corporation (AMTD) business overview From Reuters.com competition investment report Ameritrade Holding Corporation (AMTD) business overview From Reuters.com Ameritrade Holding Corporation is a provider of securities brokerage services and technology-based financial services.

More information

Sterling Technologies Inc. Sterling Trader Pro

Sterling Technologies Inc. Sterling Trader Pro Sterling Technologies Inc. Features: State of the art direct access trading software Broker neutral trading platform Pinpoint accuracy of order-routing and order management Integrated real-time quotes,

More information

Growth Retention Yield Analyst / Investor Day May 23, 2006

Growth Retention Yield Analyst / Investor Day May 23, 2006 Growth Retention Yield Analyst / Investor Day May 23, 2006 Vision & Strategy Joe Moglia CEO TD AMERITRADE, Inc., member NASD/SIPC. TD AMERITRADE is a trademark jointly owned by TD AMERITRADE IP Company,

More information

Investing. retirement. Reach your goals with the powerful financial solutions inside.

Investing. retirement. Reach your goals with the powerful financial solutions inside. Investing. retirement. Trading. Reach your goals with the powerful financial solutions inside. Why Choose E*TRADE? Strength We serve more than 4.4 million accounts worldwide. Stability The first online

More information

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the Act ), 1 and

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the Act ), 1 and SECURITIES AND EXCHANGE COMMISSION (Release No. 34-74464; File No. SR-EDGX-2015-13) March 10, 2015 Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a

More information

Sandler O Neill Global Exchange & Brokerage Conference. June 6, 2013

Sandler O Neill Global Exchange & Brokerage Conference. June 6, 2013 Sandler O Neill Global Exchange & Brokerage Conference June 6, 2013 Disclaimer The following information contains certain forward-looking statements that reflect the Company's current views with respect

More information

AMEX MKT Order Imbalances Free Free. AMEX Options Depth of Book USD 10.00 USD 60.00. ArcaBook for Equities USD 10.00 USD 40.00 8

AMEX MKT Order Imbalances Free Free. AMEX Options Depth of Book USD 10.00 USD 60.00. ArcaBook for Equities USD 10.00 USD 40.00 8 United States - Market Data Securities and Futures Value Bundle 1, 2, 3, 4 USD 10.00 Waived for Activity 4 N/A US Securities and Futures Value PLUS Bundle 5 USD 5.00 N/A US Securities Lite Value Bundle

More information

European Union trading fees are still +113% higher than similar fees within the US

European Union trading fees are still +113% higher than similar fees within the US European Union trading fees are still +113% higher than similar fees within the US Despite large decreases in brokerage commission rates across Europe, all-in trading costs remain high within European

More information

IDEAS, not tools. Special Introductory Offer Get $4,000+ in Trading Software FREE!* gxtrader commissions ½ cent per share* no minimums* no tiers*

IDEAS, not tools. Special Introductory Offer Get $4,000+ in Trading Software FREE!* gxtrader commissions ½ cent per share* no minimums* no tiers* IDEAS, not tools Special Introductory Offer Get $4,000+ in Trading Software FREE!* gxtrader commissions ½ cent per share* no minimums* no tiers* *Securities products and services offered by Transcend Capital

More information

OPTIONS REGULATORY FEE - ORF A GUIDE TO EXCHANGE COLLECTION SCENARIOS AND RATES

OPTIONS REGULATORY FEE - ORF A GUIDE TO EXCHANGE COLLECTION SCENARIOS AND RATES OPTIONS REGULATORY FEE - ORF A GUIDE TO EXCHANGE COLLECTION SCENARIOS AND RATES FEBRUARY, 1 2016 Table of Contents: 1. Section 1 What is ORF? 2. Section 2 Exchange ORF Policies: NYSE AMEX NYSE ARCA BATS

More information

CHOOSING A BROKER -A Simple Guide -

CHOOSING A BROKER -A Simple Guide - CHOOSING A BROKER -A Simple Guide - Apart from your trading strategy, your choice of broker is one of the most important decisions you ll make. Naturally, you ll want to trade with the best broker, and

More information

Money Math for Teens. Dividend-Paying Stocks

Money Math for Teens. Dividend-Paying Stocks Money Math for Teens Dividend-Paying Stocks This Money Math for Teens lesson is part of a series created by Generation Money, a multimedia financial literacy initiative of the FINRA Investor Education

More information

Welcome to TD Ameritrade

Welcome to TD Ameritrade Welcome to TD Ameritrade At TD Ameritrade, we know you value your independence as an investor. Whether you re an active trader, invest for the long term, or do a little bit of both, your ability to make

More information

Equity Trade Journal (CSV and TXT) details all a Market Participants ACT-reported trades for the date requested.

Equity Trade Journal (CSV and TXT) details all a Market Participants ACT-reported trades for the date requested. Equity Trade Journal (CSV and TXT) details all a Market Participants ACT-reported trades for the date requested. Equity Trade Journal Download CSV and TXT Data Fields and Definitions Data Field Display

More information

Partnerships you can depend on

Partnerships you can depend on PAMM Partnerships you can depend on There s more than one way to profit from forex. At FxPro we ve made it our business to offer clients and partners every opportunity to benefit from the world s largest

More information

Order Execution Policy

Order Execution Policy Order Execution Policy Introduction Colmex Pro Ltd (hereinafter called the Company ) is an Investment Firm regulated by the Cyprus Securities and Exchange Commission (license number 123/10). Following

More information

Small Cap Liquidity in 2013

Small Cap Liquidity in 2013 Small Cap Liquidity in 2013 A Year Over Year Comparative Analysis Weeden Program Trading Group January 2014 Disclosure: This publication is prepared by Weeden & Co.'s trading department, and not its research

More information

2013 Monitor Awards. Published January, 2014. 2012, Corporate Insight, Inc. Mutual Fund Monitor Report Fund Fact Sheets 1

2013 Monitor Awards. Published January, 2014. 2012, Corporate Insight, Inc. Mutual Fund Monitor Report Fund Fact Sheets 1 2013 Monitor Awards Published January, 2014 2012, Corporate Insight, Inc. Mutual Fund Monitor Report Fund Fact Sheets 1 Introduction This month, we are proud to present our annual e-monitor Awards Report,

More information

Private Placement Programs & Trade Platforms

Private Placement Programs & Trade Platforms GRB WHITE PAPER FEBRUARY 2015 Private Placement Programs & Trade Platforms What They Really Are GLOBAL RESOURCE BROKER, LLC February 26, 2015 Authored by: CEO, Adam Russell Private Placement Programs &

More information

Platform Routing Manual

Platform Routing Manual Platform Routing Manual Version 4.4 Date: J 2010 Table of Content ROUTE: ARCA - LISTED, OTC, OTCBB... 5 ROUTE: ISLD LISTED, OTC, OTCBB...12 ROUTE: NYSE / AMEX LISTED ONLY...14 ROUTE: MLX LISTED ONLY...16

More information

Part I: Investment Environment (continued)

Part I: Investment Environment (continued) Securities & Investments Analysis First few Weeks: Investment Environment Markets and Instruments Weeks 3 & 4: Issuing Securities Part I: Investment Environment (continued) Trading Securities (market microstructure

More information

Discussion today. Trading: Luck or Skill or Both? Research Objective. Global Financial Markets. Advent of Electronic Trading

Discussion today. Trading: Luck or Skill or Both? Research Objective. Global Financial Markets. Advent of Electronic Trading Discussion today Cloud Computing Services in Finance: Ready for Ubiquitous Computing? Prof. Alexander Yap, PhD Elon University, Elon, North Carolina, ayap@elon.edu Nature of Electronic financial market

More information

Quant Trader. Broker Connectivity and Trade Execution. Presented by Quant Trade Technologies, Inc.

Quant Trader. Broker Connectivity and Trade Execution. Presented by Quant Trade Technologies, Inc. Quant Trader Broker Connectivity and Trade Execution Presented by Quant Trade Technologies, Inc. Install Brokerage Software Setup Broker Connections Order Processing Automatic Trading 2 Install Brokerage

More information

Toxic Equity Trading Order Flow on Wall Street

Toxic Equity Trading Order Flow on Wall Street Toxic Equity Trading Order Flow on Wall Street INTRODUCTION The Real Force Behind the Explosion in Volume and Volatility By Sal L. Arnuk and Joseph Saluzzi A Themis Trading LLC White Paper Retail and institutional

More information

ShareIntel DRIL-Down Analysis. Shareholder & Broker-Dealer Movement

ShareIntel DRIL-Down Analysis. Shareholder & Broker-Dealer Movement ShareIntel DRIL-Down Analysis of Shareholder & Broker-Dealer Movement For Company XYZ NASDAQ Ticker: XYZ May 2006 to October 2007 BY - 1 - Table of Contents I. Who are the broker-dealers acquiring the

More information

Bank of America Senior Vice President, Digital Marketing Senior Vice President, Electronic Communications & Social Media Compliance Vice President

Bank of America Senior Vice President, Digital Marketing Senior Vice President, Electronic Communications & Social Media Compliance Vice President ABN AMRO Chief Compliance Officer Actiance, Inc. General Manager, Social Business AICPA CPA Insider Allen & Overy Partner AllianceBernstein Senior AllianceBernstein Cash Management Services Assistant &

More information

Investor Presentation - March 2006

Investor Presentation - March 2006 Investor Presentation - March 2006 Forward-Looking Statements. This presentation may contain forward-looking statements. These statements relate to future events or our future financial performance rmance

More information

A Beginners Guide Getting Started with trademonster

A Beginners Guide Getting Started with trademonster A Beginners Guide Getting Started with trademonster info@trademonster.com 1-877-598-3190 Welcome to trademonster We re glad you chose to be a part of the new era in online brokerage. The trademonster platform

More information

1 New to investing p4 1.1 Your first trade with E TRADE.

1 New to investing p4 1.1 Your first trade with E TRADE. MAKING YOU FEEL GREAT ABOUT TRADING. IT S SECOND NATURE TO US. WE KNOW BECAUSE WE RE TRADERS TOO. WE KNOW. THERE S NOTHING QUITE LIKE IT. THE EXHILARATING FEELING OF A SUCCESSFUL TRADE. WE VE FIST PUMPED

More information

SunGard Brokerage & Securities Services, LLC Unaudited Statement of Financial Condition June 30, 2013

SunGard Brokerage & Securities Services, LLC Unaudited Statement of Financial Condition June 30, 2013 Unaudited Statement of Financial Condition Index Page(s) Financial Statements Statement of Financial Condition... 3 Notes to the Financial Statements... 4 9 Statement of Financial Condition Assets Note(s)

More information

Equity Trade Journal Download (CSV and TXT) details all a Market Participants ACT-reported trade for the date requested.

Equity Trade Journal Download (CSV and TXT) details all a Market Participants ACT-reported trade for the date requested. Equity Trade Journal Download (CSV and TXT) details all a Market Participants ACT-reported trade for the date requested. Equity Trade Journal (CSV and TXT version) details a Market Participants ACT-reported

More information

HOW TO BUY A STOCK BY KELLY GREEN

HOW TO BUY A STOCK BY KELLY GREEN HOW TO BUY A STOCK BY KELLY GREEN HOW TO BUY A STOCK WELCOME TO THE WORLD OF STOCK TRADING We understand that buying your first stock can be a daunting process. But if you break it down into smaller steps,

More information

Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees

Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees This document is scheduled to be published in the Federal Register on 06/27/2016 and available online at http://federalregister.gov/a/2016-15076, and on FDsys.gov 8011-01p SECURITIES AND EXCHANGE COMMISSION

More information

Investors Exchange (IEX) Building A Market that Works for Investors. September 9, 2015

Investors Exchange (IEX) Building A Market that Works for Investors. September 9, 2015 Investors Exchange (IEX) Building A Market that Works for Investors September 9, 2015 FLASH BOYS: A WALL STREET REVOLT 2015 IEX Group, Inc. and its subsidiaries, including Investors Exchange LLC and IEX

More information

Apex Clearing Corporation

Apex Clearing Corporation Statement of Financial Condition (Unaudited) Apex Clearing Corporation is a member of FINRA, Securities Investor Protection Corporation (SIPC), NYSE MKT LLC, NYSE Arca, Inc., BATS Y Exchange, Inc., BATS

More information

TD Ameritrade Self-Directed Brokerage Account. A Guide for Plan Participants Brokerage Option

TD Ameritrade Self-Directed Brokerage Account. A Guide for Plan Participants Brokerage Option TD Ameritrade Self-Directed Brokerage Account A Guide for Plan Participants Brokerage Option Inside Your Participant Guide TD Ameritrade Self-Directed Brokerage Account Overview 1 Is a Self-Directed Brokerage

More information

The brokerage industry has been

The brokerage industry has been Understanding the strengths and limitations of emerging business models. WEB-ENABLED TRANSFORMATION OF THE BROKERAGE INDUSTRY GREG MORGAN < By Clayton A. Looney and Debabroto Chatterjee > The brokerage

More information

The Flash Boys Effect: An analysis of high- frequency trading in the online media

The Flash Boys Effect: An analysis of high- frequency trading in the online media The Flash Boys Effect: An analysis of high- frequency trading in the online media MediaMiser 2014 2 014 MediaMiser Ltd. High-Frequency Trading 1 Executive Table of Summary Contents Introduc?on/Methodology

More information

A guide to CFDs. Contracts for difference. For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co.

A guide to CFDs. Contracts for difference. For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co. A guide to CFDs Contracts for difference For more information please contact us on 0117 988 9915 or visit our website www.hlmarkets.co.uk One College Square South, Anchor Road, Bristol, BS1 5HL www.hl.co.uk

More information

Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality *

Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality * This draft: March 31, 2015 Can Brokers Have it All? On the Relation between Make-Take Fees And Limit Order Execution Quality * Robert Battalio Mendoza College of Business University of Notre Dame rbattali@nd.edu

More information

Getting Around in thinkorswim

Getting Around in thinkorswim 1 Getting Around in thinkorswim If you don t have a real account, the virtual account that you sign up for is called papermoney. If you sign up and fund a real account with TD Ameritrade s thinkorswim

More information