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Abiel

New broker: CenterPoint Securities

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Ok, I signed up with Centerpoint and they automatically put me with Hilltop as the clearing firm.. there are other choices apparently?? I didn’t know I had a choice ? 

Also, really unclear what route I should use? 

Anyone else on Centerpoint that can offer any guidance here??

 

thanks 

mike

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@Abiel  @Mikemix Does clearing firm choice really matter? It is just where they hold your account and money right? You still have access to all the benefits that centerpoint provides, like short locate providers and leverages.

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So I’m really confused on how I should set up my default route... when I look at the drop down menu, why do I not have “MARKET” and “LIMIT” as choices? How do I set the default route?? 

Pic attached 

 

D7C96A0F-25E3-46A6-8288-F54DD3A87F65.jpeg

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@Mikemix   Dude, are you spoiled by the non direct access smart route? Do some research and see which one best  suites your needs. Usually ARCA, EDGX, NASDAQ are the ones you need. And some dark pools, like the ones that start with X

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8 minutes ago, R P said:

@Mikemix   Dude, are you spoiled by the non direct access smart route? Do some research and see which one best  suites your needs. Usually ARCA, EDGX, NASDAQ are the ones you need. And some dark pools, like the ones that start with X

I’m new to DAS and Centerpoint.. I’m just looking to make sure I’m selecting the right routes..  all these are to me at this point are meaningless symbols... I know of ARCA and EDGX, but I’m just not used to this platform and broker and trying to make some sense of it... as an example, when I see others using DAS, their drop down menu shows MARKET, LIMIT and STOP.. mine doesn’t... where are their routes going to? A smart route? Should I use a smart route? Are any of the symbols listed in the list a smart route? 

 

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Mike, use ARCAL if you are using marketable limit orders. ARCA has the highest liquidity and should not have any issue filling in it.

I emailed them to check if they support SMRTL or not. I will let you know.

7 hours ago, R P said:

@Mikemix   Dude, are you spoiled by the non direct access smart route? Do some research and see which one best  suites your needs. Usually ARCA, EDGX, NASDAQ are the ones you need. And some dark pools, like the ones that start with X

Amen! 

I think you an not go wrong with ARCAL. 

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How is Speedtrader compare to CenterPoint Securities? which one is better? In BearBullTraders trading tools topic, Speedtrader is no in the list anymore more, does that mean that aren't good? thanks.

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Questions for @Mikemix:  Do you know why Center Point requires 30k to open while PDT rule only required 25K? . Does this mean that the extra 5k is like a buffer to protect your account from fluctuating before it reaches 25k in which case you need to put more money? And what is the leverage ratio they gave you? Thanks.

Regarding clearing firm, please check out this site: http://www.madazmoney.com/faq

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