A Rediplus Trading Platform Is The Sign of A Superior Brokerage Firm
Once you are comfortable with that, you can start to think about other features you want to make sure you can use with this broker, such as time and sale, tick by tick trading, instant portfolio reporting and a quoting system that lets you see all of the information on any number of stocks.
Most brokerages are scrambling to have these sophisticated technical features on offer to their clients, but you must also think about the basics, and make sure your prime broker addresses them. Make sure your broker is able to manage accounts of any size, since you don’t want to be limited, or have to move to another broker if your account gets larger. A very critical feature to watch for in a brokerage firm is excellent execution of trades, because if the back office cannot handle large volumes, trades may be lost and reporting may be inaccurate. Next, you should inquire and make sure that the broker you are considering is using a platform, such as Rediplus, that can give you access to the major exchanges that you want to trade on, NYSE, Amex and Nasdaq. Have some time to visit wikipedia to gather ideas with regards to the issues.
A sophisticated brokerage system will also be able to offer its clients full options capability as well as complete futures capabilities. Even if you currently only trade equities and bonds, you may want to expand your trading choices to include options and futures. Margining is another important service you should make sure your broker offers; you may not be immediately eligible, but you should be ready for the future by having that capability. When you are making the decision to work with a broker, you should make sure that the widest range of services possible is available, so that as you account grows, or your knowledge and comfort level increases, you have new trading options to take advantage of.
If a broker can offer all of these features, you are finally ready to look at that all important issue, pricing. A brokerage account is useless when a great deal of your profits are eaten away by fees, and if you do a lot of in and out or day trading, you want to make sure that your prime broker offers services are competitively priced and that you are guaranteed low brokerage commissions.