Worth a Try
Written by Gepard (from EliteTrader) on 2005-07-01 15:15:40
I have been a customer of many brokers, but only with Global I have found so far the best mix of features and services for my needs.
They allow you to open an account with $2000 and taste the waters (others wanted a min. of $5000, or asked then for way higher commissions).
They have low intraday margins, so you can effectively trade with $2000 or less, since $500 (it was even $400 past Spring) is what is needed for one Es or NQ or YM contract (others wants more than three times that.
Their intraday times are very large: you must only avoid to trade (for emini) between 16.15 and 16.30 (others do not allow pre-market and/or allow till 15.45.
They offer you support in many languages, and this is true, not just marketing jumbo-mumbo. English is not my mother tongue, so I feel way better in knowing I'll be able to speak in my language should I have a trouble, and my broker will be able to understand even the subtilities of what I'll tell him.
They offer a chat line 24 hours a day (in English), with different departments (trading, tech, by platform, etc. Again, very important if you live in Europe, with different timelines, and if you prefer, when issue is not really urgent, written communication and no use of the phone. (with other brokers offering live chat helpline it was countless the time spent just waiting).
They offer, IMHO, a ten-on-ten-rated customer service. I discovered it mainly AFTER my becoming a customer. Examples? I have never been on hold on the phone more than two rings, and, being in Europe, they always offered (and did, on my request)to call me back to avoid me high phone charges. They recognize me on the phone and by chat, so I have not the feeling to be just one between thousands, and I can rely on past experiences, without starting every time from the ground. For every problem and request, like switching three times between platforms in small time, they have been always VERY kind and collaborative, and I am NOT at all an high volume customer (with others I had very bad times even for trivial requests, not just very urgent issues).
They offer, like no other broker I know of, a lot of different platforms, some really innovative. I like StrategyRunner because it runs on the server side, so if I place a bracket order I have the peace of mind to know that even if my computer should melt, or my connection/feed break, I am anyway covered (unless all the computers factory of the broker itself goes broken). Recently I see that they are offering too JTrader working with NinjaTrader, a front-end till now working only with TWS of Interactive Brokers.
They are clearing through Rosenthal Collins Group, a solid firm (always do your homework if you have doubts). I had they clearing with other brokers too, and I had never an issue: all the statements correctly received, and when correction were needed, I had them immediately.
They offer a very good data feed reliability. Either with Jtrader or StrategyRunner I remember no more of two outages in one year, not in fast moving markets (with other brokers it was quite always impossible to trade news release, too often data feed was frozen, and anyway I had at least 3/4 outages per month). Remember, I am not in the USA.
They do not show commissions, you must ask. I did by email. I know I have not the cheapest commissions of the market, but anyway I know as well the difference range is, worse/better, within 3 USD. When all is OK you can think that saving a couple of bucks per RT is a great deal, but just try ONE time (with other brokers I had more than one time the experience) the pain to have an open position, or, worse, to not know if you are flat, long or short (because the software does not let you know that), so that you cannot anyway edge even if you have a second broker, AND the market is moving fast while chat put you on hold, phone rings hopelessly and when you can speak with someone finally he has not a clue about how to help you...well, maybe the deal looks then no more so good, and you (it was me, at least) start thinking how much you would pay to be able to speak IMMEDIATELY with a knowledgeable and recognized and friendly broker...
If you are looking for a broker, these are the main reasons I think it worthwhile giving them a try. |
