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Robert H

New Broker Announcement: Alliance Trader

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Alliance Trader is a well-known broker located in Jamaica and they aren’t bound by the pattern day trader (PDT) rule. Therefore traders do not need to have at least $25,000 in their account to be able to trader. If you live in the U.S. and have under $25,000 available for day trading Alliance Trader can be a great choice for your broker. I currently have a small account with them, and so far everything works perfectly.

Besides not being subject to the PDT rule, Alliance Trader offers you a 6:1 margin. That means that you can buy stocks worth 6 times more than you have in your account. A $10,000 account can have up to $60,000 buying power for trading.

Alliance Trader uses DAS Pro as their trading platform too. This broker is currently offering an exlusive discounted commission structure of $0.0035 per share with minimum 0.99 per ticket to our members*. This is an incredibly low fee compared to all other U.S.-based and off-shore brokers. If you open an account with them, please let them know you are with Bear Bull Traders to get access to the discounted rates.

You can email them at info@alliancetrader.com.

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Posted (edited)

I emailed Alliancetrader on this and waiting for an answer, but I'm curious if you all know. Does this set up come with a simulator account too like CMEG?

Edit: There also was this line I'm curious about on their website.

DasTrader Pro "Free with 30 trades each month or $150 per month". That would be based on a $4.95 commission. I'm guessing it would be whatever our commission is up to $150 a month to get the platform fee waived?

Edited by Brandon K

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Hi Brandon

 

This is the reply I got from Alliance. My account is up and ready for funding. Waiting for CMEG to release it's new fees structure and will then decide which broker to go with.

image.png.9ae375c960c9526d97f88ac95db968e3.png

 

 

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8 hours ago, jayawt111 said:

Hi Brandon

 

This is the reply I got from Alliance. My account is up and ready for funding. Waiting for CMEG to release it's new fees structure and will then decide which broker to go with.

image.png.9ae375c960c9526d97f88ac95db968e3.png

 

 

jayawt111 - when you filled out the application, what did you put for software package and trade plan? Or did you contact them prior to submitting an application?

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Posted (edited)
1 hour ago, Pgieri said:

jayawt111 - when you filled out the application, what did you put for software package and trade plan? Or did you contact them prior to submitting an application?

Hey

I just filled out the application and mentioned bear bull code in the application itself. There is an option for the code on the first page itself.

 

image.png.05445d621c58b45088c54f4e64cb9001.png

 

You can select any trade plan/ software package in the form but in your email to Alliance, mention that you are a member of BBT with the code: bearbull2019 and they will put you on the discounted plan regardless of what you fill in the form. You can leave it blank as well if it allows you. This is what I selected: 

image.png.e102dc4a16aa609fc37f7ebabb88b38b.png

 

After sending the form and waiting for a couple of days, I called up the US hotline number on their website and had a chat with an operations consultant. She was very good over the phone and asked me for my name. She then told me that she herself will take care of my application and will put me on the bear bull traders plan. 

Also, the demo account is not included in the Alliance DAS package by default. Once the account is created, you will need to email/call them to get a demo/simulator account setup alongside the live account (It's free but not included in the package by default).

Edited by jayawt111

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8 minutes ago, jayawt111 said:

Hey

I just filled out the application and mentioned bear bull code in the application itself. There is an option for the code on the first page itself.

 

image.png.05445d621c58b45088c54f4e64cb9001.png

 

You can select any trade plan/ software package in the form but in your email to Alliance, mention that you are a member of BBT with the code: bearbull2019 and they will put you on the discounted plan regardless of what you fill in the form. You can leave it blank as well if it allows you. This is what I selected: 

image.png.e102dc4a16aa609fc37f7ebabb88b38b.png

 

After sending the form and waiting for a couple of days, I called up the US hotline number on their website and had a chat with an operations consultant. She was very good over the phone and asked me for my name. She then told me that she herself will take care of my application and will put me on the bear bull traders plan. 

Also, the demo account is not included in the Alliance DAS package by default. Once the account is created, you will need to email/call them to get a demo/simulator account setup alongside the live account (It's free but not included in the package by default).

Thanks!

 

 I am a bit confused by the fact that the trade off for DAS Pro is 500 in commissions per previous post, but I wonder if there was a typo in there since the other commission offsets are equivalent to their costs for the platform - or the equivalent of 120 in commissions.  

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All,

 

This is additional information I have received per emails:

 

As it relates to Margin trading:  on accounts over 2500 you get 6:1 intraday and 2:1 overnight.  The margin fees are: daily margin interest 10% per annum, margin call $25 and overnight short position fee 10% of the value of the position.   

Funding: $30 fee (plus any fees associated with your bank) for incoming wires

Withdrawl: 35 for domestic (plus any fees from your bank) and $70 for international.

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Thank you @Pgieri, @jayawt111 for the info

I am thinking about signing up for an account with Alliance.

Could you guys assist me with these questions?

1. What is included in the $120 DAS Software Plan?  Example:

image.png.0c3e5f5bde66779cce789b083d1b5ae5.png

image.png.2fe72d11a9f8588dbdcdd877ae03e635.png

Because it would seem that at $120, you would only get level one data according DAS official website.

 

2. @jayawt111, How long did it take for the account to be opened?

 

Thanks again. 

 

 

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On 5/25/2019 at 8:55 AM, thats_peter24@yahoo.com said:

Thank you @Pgieri, @jayawt111 for the info

I am thinking about signing up for an account with Alliance.

Could you guys assist me with these questions?

1. What is included in the $120 DAS Software Plan?  Example:

image.png.0c3e5f5bde66779cce789b083d1b5ae5.png

image.png.2fe72d11a9f8588dbdcdd877ae03e635.png

Because it would seem that at $120, you would only get level one data according DAS official website.

 

2. @jayawt111, How long did it take for the account to be opened?

 

Thanks again. 

 

 

Hey Peter

 

1. As per my conversation with Alliance, Level 1 is included but total view is another $20 which comes to $145 in total which is comparable to all other broker deals we got. The same is mentioned on their website under Data Fees.

I am not sure what is the difference between level 2 and total view. Is there anything extra we get from total view other than level 2?

 

2. After emailing the application, I called them 2 days after and spoke to a consultant. She was good and helpful and sent me the acknowledgement email the same day. I got the Account details after 3 more days. So in total it took them 5 days.

I think the wait time will increase as the number of applications will increase as many of our members will be applying for an account with Alliance. 

 

I will be trading in a simulator for another month or so and I believe CMEG will also come with a new competitive pricing structure. I have an account with both the brokers so I am just keeping myself sorted for when I decide to go live.

 

Cheers!

 

 

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Thanks for the update @jayawt111. Much appreciated.

From my reading online, I use this extract to differentiate TotalView vs Level 2, which is to say TotalView has more market depth than level 2.

image.thumb.png.839a52dba7b9721cb79c3c36b5c256df.png

Yes, you're right. The software fees is averaging with other brokers.

I will bear this waiting time in mind when applying for the account.

Please let me know CMEG new price structure once it has been published. 

All the best with simulator practice.

 

Thanks much.

 

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