Schwab's CyberTrader Subsidiary Targets Broader Active Trader Market With $9.95 Commissions and Streaming Web Platform
Technology, Pricing and Trading Research; A Trading Experience Once Only Offered to Professionals - Plus 25 Free Trades
Wednesday September 25, 8:03 am ET
AUSTIN, Texas, Sept. 25 /PRNewswire/ -- CyberTrader Inc., a wholly owned subsidiary of The Charles Schwab Corporation (NYSE: SCH - News), today announced a broad expansion of its pioneering direct access brokerage technology, pricing and services into the active trader marketplace. With reduced commissions across all platforms, an enhanced web trading platform and premium stock research, CyberTrader now offers a trading experience, once only available to professionals, to clients who trade as few as 10 times per month.
"CyberTrader empowered the first generation of active traders with technology and service that only pros could expect. We're now delivering state-of-the-art brokerage tools to those great numbers of traders who have remained active in this challenging market environment," said Jim Hackley, CEO of CyberTrader.
To promote its new offerings, beginning today, new CyberTrader clients are eligible to receive up to 25 commission-free trades. The $9.95 pricing applies to all trades executed on CyberTrader's newly-enhanced web platform, which features streaming real-time market data, direct access and intelligent order routing functionality, and options trading capabilities. Research, including market commentary from CyberTrader's Chief Market Strategist Ken Tower, interactive trading "chats" and live interactive classes with other CyberTraders are also available to users of the Web trading platform.
CyberTrader has also lowered the commission prices and the trade minimums on its more advanced Cyber X2(TM) and CyberTrader Pro® software platforms. The $14.95 commission has been eliminated, and $12.95 is now the base price for market or limit orders of up to 5,000 shares on either platform. And traders qualify for $9.95 pricing with far fewer trades than previously on CyberX2 and CyberTrader Pro (see table).
www.CyberTrader.com Was Now
Base commission -- $9.95
Trades/month to receive $9.95 -- None
CyberTrader Pro
Base commission $14.95 $12.95
Trades/month to receive $9.95 500 50
CyberX2
Base commission $14.95 $12.95
Trades/month to receive $9.95 100 20
Additional fees may apply
"CyberTrader was built by traders for traders. We remain committed to providing the technology, expertise, service and control traders need to be successful," Hackley added. "And now we deliver it all at an even greater value."
For more information about CyberTrader, Inc. please visit www.CyberTrader.com or call 1-888-76-CYBER.
CyberTrader, based in Austin, Texas, is a Direct Access Broker specializing in electronic trading and brokerage services. CyberTrader provides customers with real-time streaming data as well as direct connections to the markets via ECNs, all 5 options exchanges and over 450 market makers. CyberTrader offers its customers two software-based trading platforms -- CyberX2 and CyberTrader Pro -- as well as web and wireless access. In March 2000, CyberTrader was acquired by Charles Schwab and is a wholly owned subsidiary of The Charles Schwab Corporation. CyberTrader customers are able maintain accounts with both Charles Schwab and CyberTrader and can transfer funds seamlessly between the two.
The Charles Schwab Corporation, through Charles Schwab & Co., Inc. (Member SIPC/NYSE), U.S. Trust Corporation, CyberTrader Inc. (Member SIPC/NASD) and its other operating subsidiaries, is one of the nation's largest financial services firms serving 8.0 million active accounts with $767.6 billion in client assets through 428 domestic offices, 4 regional client telephone service centers and automated telephonic and online channels. Charles Schwab & Co., Inc., U.S. Trust and CyberTrader Web sites can be reached at www.schwab.com , www.ustrust.com and www.cybertrader.com , respectively.
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