Why should you consider using the best access brokers and trading platforms? What makes a day trading broker? Online stockbrokers like TD Ameritrade and Robinhood take your orders. Then send them to a 3rd party location instead of sending them to the stock exchange. This greatly affects the speed of instruction execution. Because the speed of order execution is most important during the trading day. That is why they must specialize in providing their clients with high-speed direct access servers and platforms as close as possible to the New York Stock Exchange, Nasdaq, and Electronic Exchange Network. In this article, Yenmachvang will introduce you all about Best Direct Access Broker and Trading Platform 2021.
Direct Access Brokers and Platforms
To select the Best Direct Access Broker and Trading Platform 2021, we need to consider many factors. Each stockbroker offers their clients a competitive fee structure, premium trading technology, an extensive short locator list, and stellar support. Let’s find out in detail below:
1. Cobra Trading
One of the first brokers in our list of best direct access brokers and trading platform 2021 we mentioned is Cobra Trading. Chadd hanging founded Cobra Trading in 2003. As a day trader with a minimum account size of $27,000.
They provide clients with internal trading platforms such as Cobra TraerPro, DAS Trader Pro, Sterling Trader Pro, RealTick Express, and RealTick PRO. Traders use them to directly locate hard-to-borrow stocks in addition to an extensive list of easy-to-borrow stocks.
Cobra trading is the only broker mentioned that does not accept payment for order flow from places like the Citadel. Retail brokers sell your order process and in return receive payment from a third party. Also, when you contact customer support, you will have to wait 30 minutes, 1 hour, or even longer.
Lightspeed Trading is a fast and accurate direct access trading platform in any market environment. Even when trading volume and market volatility are high. The platform supports multiple order routing options. In addition, complex order types and order entries are customizable.
If the number of stock trades per month is less than 249,999 shares, the stock and ETF trading price is $0.0045. If the trading volume is more than 3 million shares per month, the rate per share is $0.0020.
Furthermore, they provide available platforms for clients such as LS Trader, Sterling Trader Pro, Livevol X, and Eze EMS. No, but there are Web platforms or mobile apps available for trading but with less functionality.
3. CenterPoint Securities
Centerpoint Securities is a direct market access broker suitable for both professional day traders and beginners. It has its headquarters in San Diego.
Centerpoint Security offers features like 2nd level market data, order entry, charting, custom design, stock scanner, real-time, and sales. Furthermore, it has extensive routing capabilities, portfolio margin accounts, and multi-broker execution capabilities.
CenterPoint provides access to their internal trading platforms CenterPoint Pro, CenterPoint Web, and CenterPoint Mobile. This platform technology is based on DAS Trader and works on windows based systems and with tools like Bootcamp or Parallels on Mac computers.
Internal trading platforms include CenterPoint Pro, CenterPoint Web, and CenterPoint Mobile. They are based on DAS Trader and work on windows and tools like Bootcamp or Parallels on Mac computers. Not only that, Centerpoint Security has a customer care department. You can contact us by phone from 7:00 am EST to 4:30 pm EST via email and contact form.
If trading less than 300,000 shares per month, the trader must pay $0.004 per share. If the trading volume is 1.5 million shares per month, then pay $0.002 per share.
4. Interactive Brokers
Interactive Brokers can connect tools outside the API. This is a beautiful option for the house transaction to like the automation of their transaction. They provide research tools and chart settings, the different organizations of trades, and level editing.
Interactive Brokers has a market capitalization of $26.79 billion. The earnings per share are 3.55 and the P/E ratio is 17.74. Note that they do not sell the command line to third parties.
When trading less than 300,000 shares per month, traders pay fees from $0.0035 per share. When the trading volume is over 300,000 shares per month, the price per share is left at 0.0020 USD/share.
However, the data quality of IB is not good compared to different environments. By they mark the filter data but not every tick is displayed in the trader’s machine. And note that when you have a problem and want support, you will have to wait a long time.
One of the last brokers in our list of best direct access brokers and trading platform 2021 we mentioned is SpeedTrader. It is a division of Mint Global Markets and a member of FINRA and SIPC, located in New York. SpeedTrader offers features like Level 2, real-time stock charts, point and clicks trading, hotkey support, and advanced order types built into the software.
SpeedTrader PRO is designed for ultimate speed, efficiency, and reliability. It allows investors to trade stocks, ETFs, and options from one platform on a commission-per-trade or stock basis.
When trading less than 250,000 shares per month, you pay a commission of $0.0044 per trade. And when making less than 200,000 transactions per month, you pay $4.49 per transaction. It is obvious that the commission gets lower the more you trade. SpeedTrader is another great choice for active day traders.
Active traders should opt for direct access brokers. By the fast command routing. Since direct access brokers can be used to transfer orders directly to stock exchanges or ECNs. Real-time order execution and market data are important.
In terms of Cobra Trading has the lowest fees for traders. They offer futures, options trading at competitive rates. There is a 25% commission discount plan and a free trading platform along with a free demo. This is a broker you should consider.
If you are an investor and a buy and hold portfolio, traditional companies like TD Ameritrade, E-Trade are a great choice for you. But in terms of order processing quickly, consistently online, execute trades, you should consider opening an account with one of the best direct access brokers.
What is direct access trading?
Direct access trading means that traders directly approach brokers to send their orders directly to the stock exchange instead of sending them to market makers or third parties.
Do day traders need direct access brokers?
It is not required to do this with a direct access broker as day traders can also use an online broker like Charles Schwab. However, you will get more profit if custom order routing improves speed and quick trade execution
What is the financial industry regulatory authority?
The Financial Industry Regulatory Authority is a self-regulatory organization. FINRA operates under the supervision of the SEC and has been in operation since 2007 when the SEC approved FINRA through the merger of the NYSE and NASD regulatory arm.
Are volume discounts from the best brokers helpful for the active trader?
This is certainly true. Because if traders volume more than 2 million shares per month, with lower costs, they will save quite a bit on a per-share basis. Spread about half of the commission compared to what less active traders pay per share
In this article, Yenmachvang brought you about the best direct access broker and trading platform 2021. Hopefully, the information we provide above can help you choose the most suitable direct access broker.