For any of my readers who are traders/investors, I am throwing this out there to you …
I am inquiring about the different trading platforms that are available and I would like to hear from users of different solutions what your perspectives are on the different systems.
I currently use E*Trade, and am overall happy with the system. However, as with any software or online solution, you always wonder if there is something that could meet your needs better. When I first started trading back in college, I used TD Ameritrade – actually is Datek at the time, which was acquired by Ameritrade, which ultimately merged with TD Waterhouse to become what it is today. I looked back at that system and while there were some small changes and updates, I didn’t notice anything new and/or different from what it was back in 2001/2002.
In my opinion, E*Trade appears to be the most professional platform for individual traders, without moving up to a more robust system, but I am always wondering if this is actually the case. Also, I know this industry ebbs and flows like any other one, so there will be times when one solution appears more advanced than others, only to be over-ran by another system that is catching up.
One provider that I am very interested in learning more about is Interactive Brokers. I have researched them a lot, and at this point, I think their offering is probably a little too large for my level of investing. Also, I am always looking for bottom dollar on trade and options commissions, and that is a question I have yet to resolve with IB.
I also know Schwab has made a number of upgrades over the years, but when I look at their system, I get the feeling that its more for investors who just want a place to deposit their money and watch it, but aren’t actively trading. I’m sure I could be wrong, but that’s just the impression I get.
And finally, another question I am looking into is third-party software that can assist in market analysis. I am interested in learning more about solutions that are available for assisting with options analysis, technical analysis (charting) and just general market scanning (for a lack of better terms).
Your input is appreciated, so feel free to send me an email, or post a comment below.