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Chapter 6
Is One Broker Better Than Another? |
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To get what you want, stop doing what isn't working.
DENNIS WEAVER |
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The first online trade was arguably made almost 20 years ago by a Michigan physicist and inventor named Bill Porter. His foresight created the company which eventually became E*Trade. |
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As online trading developed, the promise was for lower transaction costs, more efficient pricing and faster executions. By and large that promise has not been delivered. |
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There are two reasons that the original model for online trading is not working: the "payment for order flow" broker and the "browser-based" trading systems. |
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Now, a new breed of online brokerthe direct access brokerhas emerged. Is this what we have all been waiting for? Will this make a difference to us as traders? |
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You bet it will. The most important decision you can make as you take advantage of the Sixth Market is to choose a direct access broker with a software-based trading system. |
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