Broker Competition Generating Better Tools, Lower Costs for Active Traders

Competition is fierce among brokers that cater to active traders.

As outfits like Tradescape.com, (www.tradescape.com), CyBerCorp.com (www.cybercorp.com) and a new entrant scheduled to launch next month, GlobalNeTrader.com (www.globalnetrader.com), struggle to differentiate themselves, they're rushing out free online tools and services that should make life as a trader a lot easier. They're also paring costs to the bone.

That's great news for traders who might make 20 to 50 rapid-fire trades per day. But these tools and services are attracting less hyperactive traders as well, enabling them to enter and exit trades at the best possible price. The resulting savings can amount to $50 or more for 100-share lots. What's more, the commissions these brokers charge are often equal to or below, say, E*Trade (EGRP Quote) (www.etrade.com). So why not take advantage of the added bells and whistles? ...