VisiTrade aims to cut out the market maker! You will need a broker.
Link here for VisiTrade’s demonstration.
In the past it may have been a bit cheaper – at the height of the online broking battle a share trade could cost just $10 – but today you are likely to get a lot more value for your money. Much of this value comes from the long line-up of research and trading tools available from most brokers. These can help all investors, from the novice through to some of the most experienced, to maximize their gains from the sharemarket.
Some traders do not need a broker’s research help and want the cheapest trade. Others need more research.
Some may trade derivatives, such as warrants and exchange-traded options, while others will be interested in investing directly in major offshore sharemarkets. Some will want to do both. A growing number of investors are interested in options trading, both on the local and US markets.
Bank American will cost you nothing if you keep enough money at the bank.
Wells Trade from Wells Fargo Bank offers the same opportunity.
You have to keep at least $25,000 in various accounts at BofA and an undisclosed amount at Wells.
Ten firms have flat rates regardless of how many shares you trade: Just2Trade ($2.50), ChoiceTrade ($5), FirsTrade ($6.95), Scottrade ($7), Terra Nova ($7.50), CyberTrader, Fimat Preferred Trade, OptionsHouse (all $9.95) and TD Ameritrade and E*Trade (both $9.99).
Some brokers tack on a per-share fee above their minimum.
Interactive Brokers charges a penny per share for trades executed using its VWAP Dealing Network; currently over 1,200 stocks are on the network’s list. Outside of its VWAP network, Interactive Brokers charges a half-cent per share.
Only one brokerage, OptionsHouse, charges a flat rate — $9.95 — regardless of the number of contracts. That makes it the best deal going. Others have either per-contract fees, or a base rate plus a per-contract fee, making them all significantly more expensive. Zecco, TradeKing, ChoiceTrade and Interactive Brokers can execute a 50-contract order for under $40, while it will run you $45-$50 at E*Trade, Schwab, TD Ameritrade, Fimat Preferred Trade, Terra Nova, Fidelity, MB Trading, Lightspeed, and TradeStation.
E*Trade ( www.etrade.com.au ) has also done a lot of things right and is in second spot with around 25% of the online market. E*Trade puts on offering more sophisticated investment options, not just vanilla sharetrading. E*Trade clients are, on average, larger than those by most of its rivals.
It is perhaps significant that all three of the biggest online stockbrokers are either fully owned or controlled by banks.
RESEARCH and TOOLS
Most online stockbrokers provide basic research tools – such as a summary of a particular company’s business, the stockmarket ratios of its shares and past performance – at no extra cost.
The best research usually is provided by those brokers who buy a service from a specialist sharemarket research group.
FACT FILE
Buying and selling online – how to do it
Trading shares online is relatively easy but take care to be accurate
If you click to finalize a buy or sell order “at market”, and haven’t double-checked it, you won’t have an opportunity to change your mind. If the system is working properly the deal will be done.
Most online broking sites work much the same, since it is usually just a simple matter of clicking on a buy or sell icon to bring up the transaction process.
KEY TERMS:
AT MARKET: You don’t set a price at which you want to buy or sell but rather accept the market price the online broker meets with when it places your order.
LIMIT ORDERS: You can set a maximum or minimum price at which you will buy or sell a share. The broker can’t complete the transaction if it can’t satisfy the limit you set.
MARKET DEPTH: A feature provided by online brokers that shows you how many buy and sell orders, and at what prices, there are for a particular share at the time you check.
STOP LOSS: This is the process of setting a price at which you want the broker to sell shares in a particular company automatically, helping you to limit losses or lock in profits.
WATCH LIST: A facility that enables you to build up a list of shares for which you want to track the prices.
Visitrade will work through your broker to cut out the market maker!
Source: Visitrade and NASDAQ
Contact:
Trevor Burns investor@tigercapital.com
Tiger Capital Corporation
416.252.3663 or toll-free 877.844.3704
Stock Guru Profile of Visitrade
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