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I had an account with MB Trading for a while. Level 2 trading is great if
you're scalping in and out all day. Fills are instantaneous if you hit a
bid or ask. MB Trading front office was very good. Always helpful they
seem to be proactively trying to improve their level of service. Their back
office however is Southwest Securities and the accouting statements are
horrific. I got a statement one month that showed a $0 balance on my
account that was at the time around $20K. I think most of the folks who use
RealTick are backed by Southwest. And the RealTick software itself is
really great. Extremely customizable and solid.
I would look into CyberCorp if I were looking for a Level 2 trader today.
CyberCorp is being acquired by Schwab where I have my primary stock trading
account.
Kent
-----Original Message-----
From: Ge Wong <spider@xxxxxxxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
Date: Monday, June 05, 2000 2:00 PM
Subject: [RT] Level 2 Brokers
Good Morning,
This is excerpt of a letter from a level 2 brokerage:
Dear Ge,
We could give you faster feeds with NQDS and NTDS quotes
direct from Nasdaq. We do not go through a ticker mill the
way Realtick does. Plus we will offer you execution
through our software off your Nasdaq Level II window.
We have continuing education for traders every Thursday.
Traders have more informal discussions daily.
We are quite proud of the trader community and professional
environment we have created here at " ".com.
My question is there a difference between the Level 2 brokers? Are some
level 2's faster? Does data out of New York better? If you are a Level 2
user I would like to hear from you on this topic or other trading ideas.
Ge
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