hmatta,
I use CyberCorp and like them pretty well. MBTrading, ABWatley, Pristine (Executioner) have their fans too.
I believe that CyberCorp is better because of better order handling options (direct to virtually all the ECN's). Also, they have CyberX and CyberTrader as direct-entry platforms. The other brokers only have one platform based on RealTickIII.
If you already have charting and analysis tools (QCharts, MetaStock, WOW, etc.), then CyberCorp/CyberX is the way to go. Also, if you are more of a TA-based swingtrader, then you CyberCorp/CyberX is better because it is easier to use and you probably wouldn't use most of the features of the integrated systems. Also, with CyberX, the order routing methods are very close to CyberTrader and, at $14.95/trade and no data fees, it is very cost effective.
If you want an integrated package, then CyberTrader or one of the RealTickIII platforms is a better choice. CyberTrader 2.0 has some nice tools. The RealTickIII (especially V7.0) platforms also have nice tools. I think a real benefit of the integrated platforms is that you can program function keys to enter orders a little faster. If you are a scalper, then this can be a definite advantage.
One benefit of the RealTickIII platforms is that there are several scanners available that require that you have a TAL datafeed for full functionality. One scanner is EricP's "ESP". He developed this for Pristine and includes scans for Pristine's trademark plays . I use the basic version (which doesn't require TAL). Very nice tool. Check out www.pristine.com or Subject 33119 here on SI.
Another scanning tool which requires a TAL datafeed is MWatch (www.mtrader.com). It is optimized for Ken Wolff's Momentum Trading techniques. Check out: Subject 18748 here on SI.
A downside of the integrated tools is they are more expensive - typically $20 or so per trade plus a monthly data feed if you don't trade over a certain amount per month. As I said above, CyberX is $14.95 per trade and no data fees. Of course, with CyberX, you will probably want a data/charting service. They range from a $10-20/month to hundreds of dollars per month.
One final note, in comparing CyberCorp versus non-CyberCorp fees, note that CyberCorp has what is called a "5-Minute Partial Fill Policy". Essentially it means that you can place multiple orders in the same stock within 5 minutes for ONE COMMISSION. Here's how it works... For example, you are long 400 shares of CSCO, the stock is up a point to $64, and you want to scale out and take profits. You sell 200 shares at $64. Two minutes later you see that it stalls at $64 5/8 and you decide to sell the remaining shares. Two trades, ONE commission. Or if you place a MSFT buy order on Island for 300 shares and get a partial fill of 180 shares. You cancel the order for the remaining shares and place a new order for 120 shares. This is ONE commission. I like this a lot. Give me flexibility. Go to cybercorp.com for detailed info.
Hope this helps.
Regards,
Dan. |
