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PureBytes Links
Trading Reference Links
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Web brokers like eTrade, AmeriTrade, Schwab (except for their Cyberbroker
branch) let you trade via forms on a browser window. Direct Access brokers
give you a client application that you install on your program which
communicates directly (without using HTML) to a host application on their
file servers. The Direct Access approach gives you much faster (hence more
up to date) charts, Level II displays, and execution. You usually have a
choice of using your mouse or predefined function keys or hotkeys to
execute your trades. On a Web brokerage account, getting a transaction
done and confirmed within 30 seconds is considered pretty good. On a
Direct Access account, getting it done in 5 seconds is considered
unacceptably slow. With the direct access software you also can have
virtually unlimited charts and tables running at the same time (if you have
a fast enough PC) so that you can monitor several stocks in real time.
-uf
At 07:47 PM 4/4/2001 +0200, you wrote:
>Please explain: The difference between direct access brokers and web-brokers.
>
>Thanks,
>Frans
>
>At 09:25 4-4-2001 -0700, you wrote:
> >Save yourself a lot of frustration and losses and go to a direct access
> >broker that supports realtick or something similar. TerraNova,
> >EquityTradingonline, Cybercorp spring to mind as good ones, although since
> >Schwab bought out Cyber, their reliability has been going downhill and
> >their commissions haven't gone down, so the first two are probably better
> >bets. Unless you plan to trade purely on end of day data and don't care
> >as long as you get filled within $1 or so of your target price, even the
> >worst direct access broker is infinitely superior to web brokers.
> >
> >At 07:01 AM 4/4/2001 -0800, you wrote:
> >>I am thinking of using a discount firm to trade on the internet. I would
> >>appreciate any pro and con opinions and experiences of using ETrade vs
> >>Ameritrade vs TD Waterhouse as a discount broker. Schwab is not to be
> >>considered. Any other firm suggested could be considered.
> >>If the MS members feel that the response is not MS related you can email
> >>me directly at linoaalessi@xxxxxxxxxxxxxx
> >>Thanks and successful trading
> >>Lino
> >
> >
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