Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
Posts: 1,040 since Jul 2010
Thanks: 1,713 given,
That's obviously up to your personal preferences. I would say a firm that offers competitive pricing with competent brokers that are supportive and knowledgeable while offering the best trading and data available with reasonable prices. Remember, you pay for what you get. If you're only concern is pricing, it's out there but expect to receive lower tier service and vice versa.
I realize that but again, wouldn't it make more sense to just call your broker and ask them to waive it? If they made a big deal over reversing the fee than, hey, maybe it is time to see what else is out there. Changing brokers is a major headache and can create all sorts of unpleasant surprises.
Simple, just ask them upfront. See how flexible they are about certain things. Learn everything you can about the firm and go from there. There are a lot of brokers out there that want your business. It's up to you to decide which one seems right for you but you have to do your due diligence.
The following user says Thank You to Private Banker for this post:
When bank of america tried to implement a debit card charge the little guy spoke up, walked, or threatened to walk. If the same thing is done here the offending brokers will take notice, but probably after its too late for them. Open your new acct, close the old one when you're up and running.
Optimus and DDT don't charge, there are others too.
Amp has no account matenince fees. Amp has a great trade desk, and they respond to emails within minutes during ETH session (24 hours minus Friday night, Saturday and Sunday morning). The brokers seem to have worked at institutions before and are clearly savvy guys. They also don't like to ramble, a positive IMO.
I'd definitely recommend Amp, but would also suggest to have at least one other broker because anything outside of equities and (sometimes) cash is not insured by FDIC or SPIC. Who's to say some small firm is not playing Corzine-charades.
I am a Velocity customer too and they did give notice of the new maintenance fee. They are providing Sierra for free and they said it costs them around $25-30 a month. Hence the fee if not enough trades.
I have never had any problem with Velocity, but I am concerned about their very low Atlas ranking as highlighted in a recent ZeroHedge post called First MFG(lobal), Now PFG: Who Is Next?
"It would seem account holders at Pioneer Futures, Rosenthal Collins Group, Crossland, Forex Capital Markets, and Velocity Futures should be checking in on those funds?"
Who is Atlas, what is their standing in the industry how much validity does their opinion have? I don't have those answers and I never heard of them before the article you read.
According to Atlas your only choices would be limited to Tradestation, TD Ameritrade or Interactive brokers.
Regardless who you choose, you still have to ask yourself... what are their margins ,commissions, minimum requirements ...what are their available platforms ... what is their reputation for customer service and support ....
I have no affiliation or experience with Velocity and I wish you luck in your endeavor...
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"