CHICAGO, March 16, 2021 /PRNewswire/ -- There's a cost saving generic alternative to the trading firms in the headlines surrounding the Reddit phenomenon and trading groups like Wallstreetbets. One that doesn't reduce costs by receiving up to half of their revenue from high-frequency trading and payment for order flow.
"The goal was simple, provide an institutional trading infrastructure for 'everyday' traders," said Generic Trade president Marc Nathan when describing the original business model, for the next generation of discount brokerage firms.
Instead of reducing costs by profiting through methods like directing trades through behind-the-scenes parties in lieu of a public exchange, Generic Trade reduces costs, by leveraging modern technology, relationships with institutional brokerages and above all, by eliminating ALL brokers and salespeople. Finally, they created a simple and transparent fee schedule which offers remarkably low costs. The business model was designed specifically for the savvy individual or individuals working with other savvy investors (i.e., trading schools, mentors, forums, etc.) and therefore saving additional costs by not offering education or trading assistance outside of the service necessary to ensure an uninterrupted trading environment. They won't teach users to trade, but they will support trading 24 hours a day by phone or chat.
Today Generic Trade celebrates 10 years of institutional pricing and a stellar trading infrastructure available to all clients, regardless of volume or account size. Orders are always routed directly to co-located servers at the exchange and never held on the client's computer, with among the lowest latency available. Truly a game changer for the individual trader.
About Generic Trade
Generic Trade is a discount brokerage firm specializing in online futures and options trading. It offers the latest technology with unparalleled speed, reliability and functionality, provided by a cutting-edge trading infrastructure. All accounts regardless of size or volume are 59 cents commission per trade. Generic Trade is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association. For further information, please visit the company's Web site, www.generictrade.com
There is a substantial risk of loss in trading futures and options.
SOURCE Generic Trade Discount Broker