I have been trading stocks and futures for over 20 years and certainly much has changed. I guess I'm happy to say that I've changed too. Back in the day I relied on my brokers for everything and they relied on me for the commissions. It all seemed fine cause that's the way it was. Then eTrade came around and I realized that there was a better way. I get most of what I need for free online and I certainly don't need the advice these 'brokers' have given me over the years, so eTrade was awesome. That was about 10 years ago and at that point I was hoping to find an 'online' solution for futures since they didn't handle them back then. Enter Interactive brokers - hurray. Now I was set - low rates and no one to bother me. Well, things changed. I still have accounts at both of those places and do like them, but not only have they both been nickel and diming me, but the solicitations do not end. Also, IB's tech stinks and their margins have gone haywire. I decided to look around and about 5 years ago I found Generic Trade. It was like going from the old broker to eTrade! I filled out the online forms on a Sunday, wired on Monday and was trading later that day. There have been a few hiccups over the years, but I have to say that they handled each one quickly and efficiently. They are TOTALLY hands off, but when I need something, they are there 24 hours a day. I found this site cause one of my friends sent me a link for one of our favorite movies, so I decided to do a review (Office Space is awesome) and figured since this is an investment site I'd check out Generic. I was surprised to see some of the lukewarm (or worse) response. All I can say I guess is that if they aren't the competition or disgruntled employee or something, maybe they were kind of new to trading futures. It has similarities to stocks, but really is very, very different and these guys are not setup to hold hands. Who knows, maybe I am just lucky. Anyways, if you were a fan of eTrade back in the day and want the modern, more efficient equivalent for futures, I'd say to give these guys a shot.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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