Hi Rene:
I'm George Muniz with The Executioner. I also usually share in your philosophy of "if it sounds to good to be true, it probably is" so I can appreciate your position. However, this is one of those times when our rule does not apply. We happen to have one of the only software systems capable of giving you, the individual trader the ability to post a Bid or Offer electronically. Essentially you are an electronic market maker. What you read is 100% true.
For example if a stock is 50 bid by 50 1/4 ask, you have the ability to do what's referred to as going high bid. Meaning that you can bid for this stock at 50 1/8, outbidding any market maker that is currently at 50. By doing this, you have now changed the quote of the stock from 50 by 50 1/4 to 50 1/8 by 50 1/4. If someone is looking to sell, they will sell to you (the highest bidder) at 50 1/8, and you have just purchased stock on the Bid. This is just one of the many benefits of The Executioner. For further info you can access our web site @ www.executioner.com.
Regarding your question of account security, your account would be established with Southwest Securities. They are a publicly traded company on the NYSE under the symbol SWS. They will serve as your clearing firm. They provide you with the standard SIPC insurance and an additional $24.5 million in insurance through a division of AIG. If you'd like to do some homework, you can browse their site @ www.swst.com
I hope this answers some of your questions and concerns.
Thanks,
George Muniz |
