by Manny Backus, Day Trading Strategy Expert

The most popular day trading systems are offered by Charles Schwab, E-trade, Scottrade and Bank of America. These are good systems, suitable for most casual traders. For the more serious professionals, however, systems such as Redibook or Sterling are used which offer more speed and functionality. Let’s take a look at Scottrade, since it is a well-known trading system used by most new day traders today, and Charles Schwab.

• Scottrade is unique in that it offers a flat rate of $7.00 per trade for all market activity.
• The commissions are the same no matter how many shares you trade.
• There are no additional fees tacked onto your account, whether it is maintained or has been inactive.
• You can combine your accounts with Scottrade, including any mutual fund accounts, stock accounts and even your IRA account.
• You can check your cash balance, margin balance in real time.
• There are no fees connected with utilizing Scottrade’s accounting software.
• Scottrade has low margin rates.
• As a member of Scottrade, you will receive the Dow Jones Real-Time News, which provides up-to-date information on the market, the day’s events, what stocks are moving, announcements by companies, as well as local, regional and international news.
• Scottrade also offers quality research using the latest information from Standard and Poor. In addition, you are given access to commentary, and value line fund analysis.
• Scottrade offers $25,000,000 account protection. This is especially significant to day traders who may incur losses. Since Scottrade is a member of the Securities Investor Protection Corporation, your account is thoroughly protected.
• Customer service at Scottrade is provided to its clients and is considered to be top class.
• If you choose to have a personal broker, Scottrade will provide you with one.
• After you open an account with Scottrade, you will be given access to streaming stock quotes in real time.
• Among the many tools Scottrade offers, NASDAQ Level II quotes, advanced charting, trading tools for stocks and options, account management tools, and technical analysis along with research accessibility are included.
• To open an account with Scottrade, the cost is $500 deposit. The trades have to be made online using Scottrade web site.

Founded in 1980 as a deep discount broker, Scottrade is considered to be tops in online investing. However, you can always compare and contrast Scottrade with the other popular day trading systems as outlined in the opening paragraph.

Charles Schwab began in 1975 and to date has over 6.9 million investors. Their services include: access to financial products including stocks and options, mutual funds, and other products. In addition, as day traders, Schwab clients have access to research, analytical tools, performance reports, and technical market analysis. They also have available online portfolio planning tools and consultants who can help you in all facets of day trading. You can check their website as well to compare them to Scottrade and the other popular day trading systems mentioned.

Day trading requires that you look into all of the day trading systems to determine which one is the most appropriate. While there are hundreds of trading systems online, it is incumbent upon you to seek the one who offers personalized service if needed, is available to buy or sell in real time, and is always there to take your calls or answer questions.

As much as it is important to become as knowledgeable as possible about day trading, it is just as important to familiarize yourself with every company who offers a trading system.

Join a daytrading club with a proven track record and you could start making money as early as tomorrow morning. Sign up below to get more information:

3435 Ocean Park Blvd. #107 PMB 334, Santa Monica, CA 90405
Phone 800-670-8332