Online Trading and Online Broking - There Is Always A Cost
In the US, a recent study into Online Trading platforms and their clients has revealed a trend that is also apparent in Australia.
For the last few years the different players in the market have been undercutting each other on trading commission. This is so they can continue promoting they are the cheapest provider.
The first paragraph highlights the issues at hand very well… “In the world of online brokerages, price is everything. At least, that is, until you start worrying about how long it takes to execute a trade, or how much money the brokerage will lend you, or how useful the site is, or how quickly the customer-service people respond, or … , or …, or … then suddenly commission isn’t the primary consideration for a trader.”
Our belief is that traders are looking for 5 main things that you want as a trader – Trading Opportunities, Speed, Charting Functionality, Information and responsive, informed Service. Each of those 5 aspects is where the SMC Trader is designed to excel.
Just remember there is ‘No Free Lunch’. In trading, everything has cost. Where the costs are retrieved it depends on the provider.
There was another great quote from a president of a New York based broking house “I don’t see pricing as the battleground. I see functionality as the battleground.”
We agree. If there are aspects you believe we can improve with the SMC Trader we want to know.
For the last few years the different players in the market have been undercutting each other on trading commission. This is so they can continue promoting they are the cheapest provider.
The first paragraph highlights the issues at hand very well… “In the world of online brokerages, price is everything. At least, that is, until you start worrying about how long it takes to execute a trade, or how much money the brokerage will lend you, or how useful the site is, or how quickly the customer-service people respond, or … , or …, or … then suddenly commission isn’t the primary consideration for a trader.”
Our belief is that traders are looking for 5 main things that you want as a trader – Trading Opportunities, Speed, Charting Functionality, Information and responsive, informed Service. Each of those 5 aspects is where the SMC Trader is designed to excel.
Just remember there is ‘No Free Lunch’. In trading, everything has cost. Where the costs are retrieved it depends on the provider.
There was another great quote from a president of a New York based broking house “I don’t see pricing as the battleground. I see functionality as the battleground.”
We agree. If there are aspects you believe we can improve with the SMC Trader we want to know.
posted by SMC Trader at
3/09/2007
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