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General Information |
| Brokerage name: Webvestor.com
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| Minimum account size: $2000-$3000
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| Base commission rates: $8-$9
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Brief explanation of margin rates, if applicable:
We use exchange minimum margins. Day trade margin for emini S+P is $2000.
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| This brokerage has been in business for: 2-5 years
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| Primary type of broker: Instant order execution-Futures
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Brief description of services offered:
Online trading with specialty in stock index futures. Fills in 2-3 seconds, rates start at $7.50 for emini S+P and Nasdaq. Trade other markets online for $15-$20 per round turn. Tradition brokerage services including discount, broker assisted and full service provided.
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Account Information
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Types of trading accounts offered:
| Full Service
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On-Line Full Service
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Premium Service
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On-Line Discount Broker
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| Customers online account information is updated: Up to the minute
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Types of trades offerered:
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| Other trade types: N/A
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Types of quotes offered to customers:
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Execution methods offered:
| Online Broker(trade desk)
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Broker
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Exchanges covered:
| CBOT-Chicago Board of Trade
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CME-Chicago Mercantile Exchange
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CSCE-Coffee Sugar & Cocoa Exchange, Inc.
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KCBT-Kansas City Board of Trade
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| MidAm-Mid-America Commodity Exchange
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Minneapolis Grain Exchange
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NYCE-New York Cotton Exchange
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NYMEX & COMEX-New York Mercantile Exchange
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| Setup or initial costs to set up an account: 0
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Features
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Types of services offered to customers:
| Technical Analysis
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Fundamental Analysis
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Basic -charts & graphs
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Advanced- charts & graphs (technical indicators, ability to change parameters, etc.)
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| Unique proprietary stories and news coverage
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Portfolio management
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Allow naked option writing
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Ways customers can access their trading account:
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| Allow stop, limit, and stop limit orders? Yes
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| Charge extra for stop, limit, and stop limit orders: No
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| Offer 24 hour customer support: Yes
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| Offer tax planning advice: No
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Additional Comments
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Special features included in the service are:
Clears RB&H Financial, a clearing member of the CME since 1969. Fast, dependable, knowledgeable service. We also have direct access to our own execution desk on the floor for S+P traders.
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This broker's service is better than the competition in these areas:
Stock Indexes-- This is our specialty, 90% of our business. We have our own execution desk run by a CME member. Flash fills on market orders, limit orders near the market and even cancel replaces. ALl orders are arbed in, not sent in on paper so fills go in and come back quicker. Customer service and reliablility Fills and execution times in online and open outcry markets commission rates VS. services provided
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Types of security precautions taken for customers:
Online platform has fantastic reliability and security measures. Margin checked before order is executed (takes less than 1/2 a second to do this). Money held by CME member firm so money is very safe due to the financial safeguards of the Merc. Online system has many encription features and firewall. Brokers check customer positions regularly to make sure everything is ok.
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Communications during systems failures has been assured through:
Redundacy with a T-1 line and DSL backup for online system, if there is a system failure, you can call in orders. Everyone given local and 800 numbers to call in case a phone line is cut. Broker usually gives his cell phone number too.
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The major plans for upgrading the current level of trading service are as follows:
Having market depth on the emini markets, better charting software, growth in many other areas to better serve you. Lower rates. Offering overseas markets within a year. We are already getting geared up for online trading in individual stock index futures.
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