View Full Version : who's the best direct access broker (DAB)?


Zach
06-11-2005, 11:03 PM
I am an active trader. I trade stocks and options and what to expand into mini futures (SP and NAS). Every time I try to address this issue of DAB, I get stymied. Some DABs have charting software and order entry, others are just order entry. What should I consider when deciding which DAB to use? Have you run into any that you would avoid...any you would recommend? Thanks

Defuzer
08-02-2005, 03:51 PM
Interactive BrokersBy the way brokers have relatively low importance.Strategies and not broker choice, is what makes money.

bnreal
09-23-2005, 08:39 AM
Interactive Brokers is a direct access broker, and only you can evaluate how important that is to you.But there are several advantages of using IB. Notably, for active traders, their transaction costs are very low. For stocks, for example, the commission is $0.005 or less per share with $1 minimum. So, buy or sell 100 shares of stock at $40 and pay $1 commission, for a total investment of $4,001 or net proceeds of $3,999. Futures commissions are in the $0.25 - $1.20 per contract range.They also give you access to a large number of markets, and you can route your orders or use their system to find best price on a trade, and you should read at their web site how their order routing works.At their web site,http://www.interactivebrokers.com/en/main.phpyou can do an interactive tour, and take advantage of webinars (live and archived) on trading methods and use of IB features and software.They allow you to do browser-based online trading or (as most do) to download their Trader WorkStation software and run it from your own computer without using a browser. The software includes charting and an extensive menu of tools and order entry screens.Whether you trade with them or not, they are not a broker to ignore in your search. Barron's (the Dow Jones financial newspaper) has consistently given them a top rating in the paper's annual online broker survey.