Question for everyone, What are you using? What do you like about it and what do you dislike? I use Scottrade, I used to use Schwab, Webstreet, and some others many years ago. I am curious if anyone has any opinion as to Scottrade vs other trading platforms and how well they work. I am not into daytrading but sometimes I'm forced into it so I'd still like good tools for that. So I appreciate any feedback. I like Scottrade (Elite) because it seems easy to enter orders and close positions with just 2-3 mouse clicks. Their charting tools seem a little weak, and I can't seem to get premarket, after hours or foreign market info (I just emailed their support this AM to see if I am missing something). premarket and AH is not that important but I'd like to get DAX/Nikkei info, etc. Can't seem to. Their order entering for shorting seems a touch weak as well.
years ago when I decided to have/open an USA $ account (trading in € we got the change in € v $ to account for + high commissions..) so after perusing several platforms (Scottrade included) I decided that Etrade was the best specially for scalping/dayT.. their ET Pro is complete.... one need to do 30 trades x quarter to get it free ... IMO easy to accomplish see for yourself ... it is easier then explaining https://us.etrade.com/e/t/invest/apptemplate?gxml=petwebcast.html&skinname=none&rightrail=disable
Years and years ago I used Scottrade (before Elite) but supplemented it with a monthly subscription to E-Signal which was top shelf. Then I switched over to Think or Swim before they sold out to TD Ameritrade and I stayed with them after the sell out. Then I discovered I was eligible to use Scottrade's Elite platform and I like it for its visual clarity and ease of use. Sure TorS has a lot of bells and whistles but I don't use them and the basic chart graphics are primitive especially if you prefer western bars instead of candles (I've moved away from candles; they're over-rated and a visual distraction imo). The main problem with TorS is that the bars do not change thickness as you zoom in and out and there is no way to manually control bar thickness. With TorS, the bars are just the skeletons of the candles. So, as you zoom in and out using bars (candle skeletons), the open and close ticks change width but the bar thickness does not change. If you overlay a study or two and draw some lines the price bars become obscured. I still trade the IRAs with TD Ameritrade but I seldom use their TorS charts. I prefer to use even the free Tradingview charts over TorS.
I started with Scottrade. Now use Interactive Brokers, and it does a lot of stuff a lot better. I think Scottrade is better for getting started as a trader, their interface is just nicer and like you said it only takes a couple clicks to get your order in. Interactive Brokers is tougher for new traders imo because they give you so many options; a new trader who's never known there were so many options wouldn't know where to start. Once you know what you want to do, the "clunkiness" is not a roadblock. And IB trades are cheaper ($1 vs $7). About after hours trading, I like very much having that available. I shorted TSLA this week after hours, which got me a LOT better position than if I shorted it in regular hours. I can do that with IB, but not with the (basic) Scottrade I have.
I did figure out how to view AH/PM trading quotes. Not sure yet if I can trade that timeframe still though. I plan to get to an office and ask a bunch of additional questions. I do use the Scottrade Elite all the time. I never use the website.
I'm not a beginner but I don't trade for a living, I'm more an IT trader that tends to stick to traditional trades of stocks, shorting, and dabble in options here and there. So Scottrade has been doing ok I was just wondering what's out there since it's been so long since I looked.
