ABW and MBT are both reputable firms. The inherent difference may lie in what type of trader you are. If you do options, ABW gets the nod b/c of the RAES interface (very good if you like trading options in your IRA). If you do trades of smaller common share lots like 300 shares or less, MBT may be more economical. Both have great customer support as witnessed by their customer comments.
Ultimately, its your choice. Best advice I can give anyone who goes with any of the electronic brokers (ABW/MBT or similar RT3 broker or Cyber) is determine/note HOW they trade first and then select a firm. The other thing I urge you to do is get the most secure and speedy connection you can afford. Any expense in this regard is truly vital, irrespective of what anyone tells you. At minimum, get a reliable ISP that offers 56k dialup, but if you can, try and get dual channel ISDN (128k) or cable/xDSL if available. Oh, one last thing, the firm that clears for the broker (Penson for ABW and Southwest for MBT) will determine what stocks you can and cannot short. That may sway your decision somewhat. Best of luck to you.
Regards,
SH |
