etrade/direct access nasdaq level2

[Dentalfloss]

please could anyone tell me is the etrade direct access level2 the same as using ib witth esignal.are the spreads exactly the same.has anybody tried the etrade signal seeker package.how does it rate against esignal

 

[Jerry Medved]

E*Trade's main brokerage is not direct access. They do have E*Trade Pro which is direct access, but other than the E*Trade name, it does not have anything else in common with the standard E*Trade account. The commissions are different as well. If you are an active trader, you would be better off using a broker such as IB, MB Trading, CyberTrader, ChoiceTrade, XoomTrade (previously named PointDirex) or one of the other direct access brokers.

Another option to look at would be Ameritrade - their main accounts are not direct access, but once they merge their site with DATEK (which they bought), they will have order routing options available. From what I hear, that should be finished before year end. Its a web based interface, but if you use QuoteTracker as a trading front end, it will be just as fast as any proprietary system and their commissions tend to be better than most direct access firms.

Jerry Medved
http://www.quotetracker.com

 

[Oldun]

Jerry,

Are there any plans to integrate QT with Pointdirex or use their data as a QT source?

Generally their platform etc. seems good but their charting is a non starter. Quote.com can be integrated for huge $$$$$$.

 

[Jerry Medved]

We have everything for XoomTrade (PointDirex new name) implemented already. Just getting some final business related stuff in place and will release in beta.

 

[darrren]

Dentist

Jerry mentioned Ameritrade.

I have an account with them, and their trading platform, which is web based, is lethal (bad that is, not good).

It is very badly laid out, difficult to find information, particularly on trades you make.

I would seriously give them a miss IMO.

I use them to short US stocks occassionally, but will be going over to IB or Cybertrader shortly.

 

[Jerry Medved]

darrren, I would never trade with Ameritrade web based trading platform. I was specifically referring to using them through QuoteTracker, which completely eliminates all the problems you mentioned.