JPR is not a branch office of Terra Nova, but they do use RT3 through Townsend, as TN does. They have three offices, NY, LA, and Boca Raton, FL.
I know a number of people using JPR, and they all love it, and have had no problems. Apparently, even though they clear through Southwest like MBT, et al, their short policy is less restrictive. They are much smaller than MBT, having approx. 65 remote traders around the country, while MBT has in the "few hundreds" (according to Ross). Customer service, it appears, is also not up to the levels of MBT, but problems are virtually non-existent, I am told. They also have a thread here on SI, started by a client, I believe. I'm also told that Southwest is horrible with NYSE stocks, as far as quick fills, and confirmation of same, but I don't know if that is true with MBT or other firms that use Southwest.
Big difference with them is that you need to generate 400 tickets per month to trade out of the data fee as opposed to 50 with MBT. But, since the commissions are so much cheaper, there is a level where it still is actually cheaper overall to use JPR, though I forget that number right now, and am too lazy to calculate it in my current haze.<g>
Hope that helps. No,I'm not affiliated with them in any way.
Len |
