Cometguy,
Thanks for the link. I've looked at it briefly, and it certainly appears to have all the right things for an active trader. What I like initially about this firm is that it appears very organized and professional, including its web-site. More importantly, it is a Canadian firm, registered in Ontario and Quebec. The fee of $29.95 is on the stiffer end, and I can't find information on how much it charges for the monthly feed. Will look further. I'm glad you brought this name up .... just in time before I open an account with U.S firm.
BTw, there is an article in NP this weekend about stox.com. This is the system that TD Waterhouse has adopted for its "platinum clients" . It defines platinum clients as those (about 1,000 of them, including a "gambler" kinda guy friend I know) contributing $15,000 in commissions per year. That translates to 500 trades a year... or 42 trades a month, or 2 trades a day... and that is using the slow, web crawler, online, market maker existing system. Imagine when DAT vendors come in to the space... they'll shake down on the complacent dinosaur-like fat cats bank own discount firms (I can't wait!!)
Anyway, getting back to stox.com - I checked its web-site, and imo, barely adequate. It can't compete in features to the DAT systems now found in the U.S. Stox allows you to try out their full featured system (15 minute delay) for free.
Check it out:
stox.com
Here's a summary of my research so far:
** Feed providers for Canadian real time charts/quotes/Nasdaq II, market depth:
(1) Stockwatch.com - not bad, lots of features including reminders, however, home spun systems.
(2) Stox.com - TD Waterhouse adopting this one for their "platinum" (read golden gooses) clients. I find its charts slow, and not powerful at all, compared to other real time chartng capabilities of U.S. DAT firms.
** Direct Access Trading Providers:
(1) Tradefreedom.com - looks very promising and as good as U.S. DAT firms. Am checking this one further.
(2) Cybercorp.com - great feedback from SI members now using the system, accepts Cdn accounts, but not licenced in Ont. Apparently, Schwab Canada will be introducing this system in Ont in 2001.
(3) Tradedeskamerica.com - Montreal firm. Registered in Quebec (not Ont), office in South Carolina. Very good DAT system, however, firm appears not well organized (including its web-site that only works on Internet Explorer browser.
(4) SwiftTrade - trade only in their office, and expected to trade a lot. I anticipate this firm will fall by the wayside next year if it does not become more competitive.
Level II screens, but not DAT
(1) Etrade - a mock level II system, and no DAT. Uses web-site technology... slow, slow, slow!
(2) TD Waterhouse - my friend hates the platinum system, especially the charting capability. However, TD has always been a leader in this field of do-it-yourself investors/traders, and I'm expecting its level 11 offering to improve and be competitive within a year.
(3) Other bank discount brokerage firms - SNOOZE! Forget them... they're not interested to compete in this field. |
