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Stock, ETF, Options Brokers
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Stock, ETF, Options Brokers

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,148 received

Stock, ETF, Options Brokers

We have lots of reviews of futures brokers here, but I'd like to get input on recommended stock brokers. If you have experiences to share about a broker, please also post their minimum account opening requirements (for those wishing to swing instead of day trade), and the commissions.

Thx,
Mike

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  #2 (permalink)
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  #3 (permalink)
Elite Member
copenhagen, denmark
 
Futures Experience: Intermediate
Platform: multicharts, Ninja
Broker/Data: IB & Kinetick
Favorite Futures: ES
 
mengelbrecht's Avatar
 
Posts: 47 since Aug 2010
Thanks: 16 given, 21 received

IB



Big Mike View Post
We have lots of reviews of futures brokers here, but I'd like to get input on recommended stock brokers. If you have experiences to share about a broker, please also post their minimum account opening requirements (for those wishing to swing instead of day trade), and the commissions.

Thx,
Mike

I use Interactive brokers and they come highly recommended. Their requirement are very simple: $10k for a margin account, $25K for day trading - how ever I believe that it is a legal requirement ( I am not a US citizen).
Be aware that they will limit the numbers of stock that you can see based on your deposit -- visit their web-site to see how thay calculate this.
I use esignal for technical analysis and IB as order entry.
I have only had god experiences with their support - they have solved the few issues I have had very quickly.

rgds
mengelbrecht

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  #4 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,148 received

Hi mengelbrecht,

I have an account with IB and agree they are quite excellent for equities. However, I was hoping to get some recommendations for brokers who accept a much smaller initial investment (account opening), as some people here are on the forum are trying to trade futures with a $3k or $5k account, and I'd like to have some good recommendations for them when I also suggest they stop that endeavor and try swinging equities instead in the beginning.

I've found that ThinkOrSwim is a popular platform, and is a $3,500 initial account opening but commissions are $9. This is probably a good choice for users who do not yet own a charting and execution platform like NinjaTrader.

I've found that Scottrade has $7 commissions and the minimum account opening is $500. Their charting leaves much to be desired, but for execution of swing trades their web interface should be sufficient. So this is probably a good choice for users who do already own their own charting platform like NinjaTrader. I am pretty certain that you cannot execute via NinjaTrader for Scottrade (not on the supported broker list).

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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  #5 (permalink)
Elite Member
Michigan, Jackson
 
Futures Experience: Intermediate
Platform: NT and TS
Broker/Data: NT Continuum
Favorite Futures: ES, CL
 
Posts: 857 since Jul 2009
Thanks: 389 given, 546 received

Lightspeed Trading

Lightspeed Trading looks interesting. A variety of trading platforms are offered. They also provide DMA and blackbox trading for equities, I believe seeing they are based in N.Y.

I am considering using OEX option trade setups in addition to my emini S&P. OptionsXpress is pricey at a ticket charge of $14.95 per trade. Lightspeed offers brokerage service options contract ticket charge is FREE. Then only $0.50 per contract. Of course, you must also include commission into the pricing as well as quarterly maintenance fees.
Options

Charge Per Contract 1 Contract 10 Contracts Lightspeed No Charge $0.50 $0.50 $5.00 Tradeking $4.95 $0.65 $5.60 $11.45 Scottrade $7.00 $1.25 $8.25 $19.50 E*TRADE $9.99 $0.75 $10.74 $17.49 optionsXpress $14.95 $1.50 $14.95 $15.00

Mike, look at Equities per 100 shares -

Equities


Online Trades 100 Share Trade Lightspeed $0.40 Tradeking $4.95 Scottrade $7.00 E*TRADE $9.99 optionsXpress $14.95

DMA may only be for professional traders and pattern day traders. I haven't contacted them as of yet but am thinking about it.

Currently, their proprietary system can only adopt E-Signal trading information. I use NT with the DTN IQ feed.

Anyone have experience using Lightspeed's platforms?

COTtrader
"Ken"


Last edited by COTtrader; September 11th, 2010 at 08:01 PM. Reason: Sorry about the tables, Mike. I removed them.
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  #6 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,148 received

Thanks COTtrader. I'm trying to find out what their minimum account opening is, do you know? And I'm assuming that NinjaTrader doesn't support them for execution (not listed), but again for swings it should be fine.

Anyone else use Lightspeed?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #7 (permalink)
Elite Member
Calcutta, India
 
Futures Experience: Intermediate
Platform: ArthaChitra
 
Posts: 278 since Jun 2009
Thanks: 161 given, 259 received

Guys can you recommend a good broker for trading Stocks (NOT Futures or Options).

will use it for long term investment only, and will not be a trading account. Essentially i want some broker which do not charges monthly or annual maintainence fees.

again besides brokerage what are the charges which the broker charges.

I am from India and has no idea about US brokers. any thoughts will be highly appreciated.

thanks in advance.

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  #8 (permalink)
Elite Member
Santa Maria
 
Futures Experience: Advanced
Platform: NinjaTrader, ThinkOrSwim
Broker/Data: Mirus/Zen-Fire
Favorite Futures: ES
 
Posts: 295 since May 2010
Thanks: 101 given, 320 received


bukkan View Post
...Guys can you recommend a good broker for trading Stocks (NOT Futures or Options).

will use it for long term investment only...

I highly reccomend Thinkorswim, however I have no idea if the can accept international clients.

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  #9 (permalink)
Elite Member
Michigan, Jackson
 
Futures Experience: Intermediate
Platform: NT and TS
Broker/Data: NT Continuum
Favorite Futures: ES, CL
 
Posts: 857 since Jul 2009
Thanks: 389 given, 546 received

Account Fund Requirements

Funding requirements using their LightSpeed Trader are as follows:

* Lightspeed Trader

Account Type Requirement
Pattern Day Trade Account $25,000
Retirement Account $10,000
Cash Account $10,000
Margin Account $10,000
Options / Futures Account $10,000

"Ken"

Lightspeed Trader (Market Data Pricing)
Per User Per Month Non-Professional Professional

NYSE Level 1 $1.00 $127.25
NYSE Open Book $65.00 $65.00
AMEX Level 1 $1.00 $30.20
ARCA Book $10.00 $30.00
Dow Jones News $109.10 $109.10
Options $40.00 $65.00
NASDAQ Level 2 $16.00 $96.00
Futures (free w/futures account) $71.00 $71.00

Lightspeed Web Trader
Per User Per Month Non-Professional Professional
Real time level 1 FREE $105.00
*NYSE data feed subscribers with multiple terminals may be eligible for reduced per/terminal rates




Big Mike View Post
Thanks COTtrader. I'm trying to find out what their minimum account opening is, do you know? And I'm assuming that NinjaTrader doesn't support them for execution (not listed), but again for swings it should be fine.

Anyone else use Lightspeed?

Mike



Last edited by COTtrader; September 13th, 2010 at 12:44 AM.
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  #10 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,148 received


Thx. Lightspeed may be a good alternative to InteractiveBrokers for day traders, but for me I was trying to find something easy/cheap to recommend for people who have very little to start with. I would rather see them swing stocks with a 3k or 5k account than trade CL futures

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

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