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I have seen a few posts asking about specific Internet Brokers. As I am
interested in this area ie I want to trade over the Net at reduced rates
and have more control over my orders, I would like to ask RTers who use
these services a few questions. Almost like a survey. I may compile
the survey into something useful if I get the time - IF AND ONLY IF I DO
I WILL NOT MENTION ANY USERS NAMES - ONLY THAT OF THE FIRM.. Feel free
to leave out anything
1. a. What Internet broker so you use?
b. How long have you used them for?
c. Why did you select this Broker?
2. What is their URL?
3. What standard rate do they charge?
4. Which Exchanges do they Cover?
5. Do they cover non US Exchanges?
If so which ones?
5. Which markets do you know they cover?
a. Globex
b. Access
c. Other
7. a. What type of orders do you know they carry?
b. What type of orders do you know they don't carry?
8. Do they carry contingent orders eg "If Dones"?
9. Have you used another Internet Broker?
10. If so, why did you change?
11. Does your broker allow phone interaction if there is a problem?
12. Does your broker have On-Line Position Summaries and Account
Statements?
13. How are you notified of your fills?
14. Does the Internet Broker have order logic filters ie does it check
for non stop buy orders above the market and issue a warning as any good
broker would?
15. If you are a Day Trader how different are your execution times to
when you use the phone
broker?
16. Is slippage generally less or greater than with the phone broker?
17. If you are a systematic trader, have your system results been
tighter or looser or no change
than when you called or faxed the orders in?
18. Please add any comments you wish..
Thanks very much.
Regards
David Hunt
http://homepages.tig.com.au/~adest
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