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I traded with PT Discount for two years and I consider the firm to be the
best of the discount brokerages. They use Bear Stearns as their clearing
house and I always got executions at my limit price between the bid/ask
spread. The traders will often give advice on a stock if you ask. And will
give news information, unlike traditional discount dealers these people are
helpful. The main reason I liked PT is the access to after hours trading.
Only a handful of discount brokers offer this service like Charles Schwab,
but they limit access to 4:10pm til 5pm, and thet do not advertise this
service you have to ask to find out.
Check out Harbor Securities/ Harbor Remote, LLC at daytrading.net I have been
with this firm for about 11 months and find their service to be superior to
the others, that is, I trade full-time as a occupation from my home. Here are
the advantages:
$25,000 minimum to open account, same as PT
real-time scrolling news from s&p comstock, news as it happens to trade on
access to instinet, soes, and ECN's (electronic communications networks) used
by market makers to buy and sell stocks directly. I can buy or sell directly
via computer to market makers. Best of all, I can trade in after hours
markets and gain a competitive advantage over 90% of all investors
10 to 1 leveraged margin trading, $25,000 of capital will allow an investor
to buy up to
$250,000 intraday, and up to $100,000 overnight
I never have topick up the the phone to trade. I simply point the mouse and
click on a security symbol, enter number of shares in buy window and my price
and buy between the spread.
I you are a part-time trader either site will be a good choice. Stay away
from Cere's
Etrade and all the others, because often they get poor executions of trades
and sometimes no fill at all in fast markets. Rarely do they fill orders
between the spread.
If your looking at Pt Discount your on the right track. Good Luck.
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