Hey traderite,
No plans on slashing costs. Others have come after they see our model. We are migrating to a different platform soon. This allows us to offer trading in commodities and securities in a single platform. We've been offering the unlimited plan longer than the others and they're offering it for cheaper to woo customers away. If you wait for another 2 months, you'll see another broker beating these guys in costs and coming in. Discount brokerage is going to come in full force (http://www.livemint.com/Money/Z7alxV6xVWEnND8u65hiEN/Online-discount-brokers-wooing-retail-investors-back-to-the.html).
On our defense, I will say that we have reduced transaction costs over time and increased margins. However, if everyone starts reducing trading costs, there will be a point where you'll be running your business at a loss. We plan on reinvesting our capital on new software and processes. Reducing costs further will just limit any broker to offer standard trading software and average quality service.
In any case, let us know if you have any other questions
Before signing up with a broker, make sure their vision, founders and alignment are correct. Most of the guys copy-paste the vision/mission statement and marketing messages of others and just cut the rates.
Good luck in your search!
No plans on slashing costs. Others have come after they see our model. We are migrating to a different platform soon. This allows us to offer trading in commodities and securities in a single platform. We've been offering the unlimited plan longer than the others and they're offering it for cheaper to woo customers away. If you wait for another 2 months, you'll see another broker beating these guys in costs and coming in. Discount brokerage is going to come in full force (http://www.livemint.com/Money/Z7alxV6xVWEnND8u65hiEN/Online-discount-brokers-wooing-retail-investors-back-to-the.html).
On our defense, I will say that we have reduced transaction costs over time and increased margins. However, if everyone starts reducing trading costs, there will be a point where you'll be running your business at a loss. We plan on reinvesting our capital on new software and processes. Reducing costs further will just limit any broker to offer standard trading software and average quality service.
In any case, let us know if you have any other questions
Before signing up with a broker, make sure their vision, founders and alignment are correct. Most of the guys copy-paste the vision/mission statement and marketing messages of others and just cut the rates.Good luck in your search!
Your explanation is true about the quality of service.
Your instant reply has certainly impressed me a lot about your commitment. :clapping:
PS: Thanks for the link of the article.
