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Non-Tech : MB TRADING
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To: Shoot1st who wrote (2980)1/3/1999 12:58:00 PM
From: wily  Read Replies (1) of 7382
 
Generic Trading, SelfTrade, SpeedTrader.

Generic is known for offering excessive daytrading margins (up to 10:1, depending on their confidence in you) and I believe you don't benefit from the usual Federal insurance coverage on your account. They have several branch sites where you can trade using their facilities. Some, I believe, offer order routing other than what you find at the remote brokerages, such as instinet and REDI.

Call Sarah at 212/218-2687

SelfTrade is in Arizona and is run by an ex-Market Maker named Tim Burke who sends out a pre-market email comment daily to clients and non-clients. He offers RT through one broker and TradeCast through another. He likes TradeCast because he says it is more reliable for not having to go through the Townsend system. (BTW, CyberTrader says that they have just recently freed themselves from the Townsend tie-in also) I demo-ed the TradeCast software and found it quite inferior to RT as far as features go. T/S and charting were a joke. Plus there was an odd form to sign that said you agree to pay $100 per incident for software support??? I was sufficiently turned off by these things not to inquire further.

SpeedTrader appears to offer both RT and CyberTrader. I called them and they seemed to want to steer me to the RT option for the reason that they are not yet trained on the new release of CyberTrader. I asked which platform their clients prefer and the CustomerSupport person said CyberTrader. (So, why steer me to RT??). I crossed this company off my list when I saw that they charge an extra penny per share for trades over 1000 shares--Nasdaq or Listed.

Also, the Final Frontier site has a list of brokers.
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