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General Information |
| Brokerage name: XPRESSTRADE
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| Minimum account size: $3000-$5000
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| Base commission rates: $8-$9
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Brief explanation of margin rates, if applicable:
XPRESSTRADE charges exchange-minimum margin requirements. We also allow customers to place their account equity into interest-bearing U.S. Treasury Bills to satisfy margin requirements.
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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:
XPRESSTRADE was one of one of the first futures brokers to offer online trading, and we were born on the Internet, so we understand the needs of online traders. At XPRESSTRADE, you get it all: Fast, direct-access Internet order routing and fill confirmations. Powerful, real-time tools and resources. A website that's quick, easy-to-use, reliable, and secure. Fast, helpful, polite customer service, around-the-clock. Plus, one of the lowest commission rates around. *** Direct, high-speed electronic order routing *** Fill confirmations within seconds *** Contingent order entry capability *** Real-time account updates, around-the-clock *** 24-hour access to 160+ global futures markets *** Real-time, streaming quotes with price alerts *** Free Interactive Java Charts application *** Free real-time futures news and research *** Fast, knowledgeable customer service *** Low commissions and active trader discounts
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Account Information
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Types of trading accounts offered:
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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:
| Electronic direct access trading(SOES, SNET and the ISLD ECN)
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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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| LIFFE-London International Financial Futures Exchange
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MATIF-France's Futures & Options Exchange
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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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Advanced- charts & graphs (technical indicators, ability to change parameters, etc.)
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Head line news
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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:
| Internet
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Telephone
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Broker
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Mail
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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:
As an authorized quote vendor with the leading futures exchanges, XPRESSTRADE can offer all clients free, unlimited real-time futures and options quotes, including Dynamic Quotes, our Java-based, real-time, streaming quotewatch application. XPRESS Order routing sends orders directly, without human intervention, directly to Globex or the trading pit and speeds many fills back in just seconds. Only XPRESSTARDE offers futures traders the ability to enter Contingent Orders online, totally on your own, without the assistance of a human broker. Our Interactive Java Charts are second to none. Clients tell us that our customer service is the most responsive and helpful in the industry. And we offer a company with a solid reputation that can be trusted.
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This broker's service is better than the competition in these areas:
XPRESSTRADE was born online, in the Internet age, so we understand the needs and preferences of online futures traders better than any other broker. Our direct-access, electronic order routing (many fills in seconds), free real-time streaming quotes and charts, easy-to-use system, wide range of features, attention to customer support, and low commissions make XPRESSTRADE one of the premier players in online futures brokerage.
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Types of security precautions taken for customers:
XPRESSTRADE utilizes three different security mechanisms to keep transactions and confidential information safe. Our first line of defense is our firewall, a device which is designed specifically to restrict outsider access. Our firewall is several layers thick, and each level has its own, unique security mechanisms, yet this system is totally transparent to our clients. Second, all online transactions and communication between XPRESSTRADE and its customers over the Internet are encrypted and authenticated by a Stronghold Web server utilizing Apache, the leading technology for Web security. When clients access our site, the "key" symbol in the lower left corner of the screen indicates private, confidential communications between us through server authentication and data encryption. The final line of defense? Every new account is assigned a User ID and a Temporary Password. After any client has logged into the XPRESSTRADE system for the first time, he is required to select his own permanent, private password. No individual associated with XPRESSTRADE will ever ask any client to reveal his password.
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Communications during systems failures has been assured through:
XPRESSTRADE realizes that for traders with futures and option positions, an interruption in connectivity can be downright frightening. We understand this concern, and that's why we've gone to such lengths here at XPRESSTRADE to build an Internet-based system with proven reliability. We've invested heavily in redundant, state-of-the-art hardware systems made by leading manufacturers. All of our software applications undergo rigorous testing prior to implementation and are supported by our in-house staff of programmers and technicians. We maintain multiple Internet connections through several Internet Service Providers, and we maintain a staff of customer service representatives in Chicago who are ready and willing to assist clients over the telephone in the event they are unable to reach us via the Internet, for whatever reason.
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The major plans for upgrading the current level of trading service are as follows:
Moving forward, XPRESSTRADE will introduce a number of revolutionary new features and tools for futures and options traders, all of which emphasize customization and the importance of a real-time, personalized, electronic trading environment. The company also plans to continue expanding its global presence, offering affordable, electronic access to a growing number of leading futures exchanges around the world. In addition to all U.S. futures exchanges, we now offer access to LIFFE, EUREX, ParisBourse, SGX (Singapore), HKFE, SFE (Sydney), and WCE (Winnipeg).
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