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Re: New Trader Wanting to Learn About Brokerage Accts
scottrade elite is great for swings with decent sizes, but the comissions will dent your P&L if you scale in or out or make many round trips.
If you are making several trades a day, TS or IB are far cheaper (except in the 1000 share range...TS $8 vs. ST $7). Don't forget the platform fee for TS if you do not trade enough.
IB gives you portability vs. TS, but the charts leave much to be desired. You can use many front-ends for IB to overcome the problem....check IB website for a list of third-party tools. Quotetracker does a good job.
Also, IB has better interest rates on idle money if that is a concern. A 100k base with all positions closed at EOD will add up quickly.
It all depends on what you want...but if you are new, this may be a struggle. I'm not plugging one over the other as they both have strengths and weaknesses.
Good luck and happy trading.
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