Hi Kurt, I use Cybercorp for datrading now as well as DLJ Direct. Cybercorp I like for those fast moving momo stocks, as I can set my own stops - and trailing stops online. No waiting for a broker on the phone like at DLJ. But as far as commissions, they are not cheap, I think it's 12.95 or 15.95 a trade. DLJ is 20 but if you plan to add to a position, DLJ will do it gratis - buy all you want all day for 20 bucks, and sell it in chunks for 20 bucks total. Whereas cyber gets you for a commission on every buy and sell - EVEN if you have a limit order and the only do a partial fill. They get you for another commision to fill the rest....
Also if you use margin, Cybercorp lets you margin any stock. DLJ has a long laundry list of non marginable stocks, most of my favorites included. They recently took BEAS off the list though <g>
Cybercorp finds you the best price out there with instant executions, much faster than anywhere else I've tried. Market orders take about 5 seconds.
I'm currently looking for another broker for two reasons - I'm trading in and out quite a bit and would love cheaper commissions, as they are taking a bite out of my profits. And second, my Cybercorp interface gets the data feed from Qcharts - which has been awful lately - slow, down or with incorrect quotes. So if you do try Cyber I would go with their feed and interface, NOT the Qcharts hookup.
Hard to find cheap brokers that alow you to place tyour own stops. Scottrade does, but the $8 trades become $12 trades as the stop sells are considered limit orders. Hope this helps! So far, I am still in search of the perfect broker... |
