TradeCast Introduces New and Enhanced Trading Software
TradeCast Securities has expanded and enhanced its trading technology for both the professional and the individual investor. The newly released Revolution online trading technology is aimed at the individual while the Elite product, an enhancement from the previous version called TradeCast Pro, targets more serious traders. The TradeCast technology differentiates itself from other browser-based trading tools, because it is software which links traders directly to the market and eliminates intermediary traffic and handling, says Bobby Earthman, president of TradeCast.
The advent of the Revolution product came about in response to customer complaints and problems with other Web broker accounts and browser-based trading tools, says Michael Littman, TradeCast marketing director. “We compare our product to other ‘Web browser’ brokers, which in essence are glorified e-mail systems—when the person clicks on their computer and sends an e-mail to the broker, the broker then has to read the message and then make an order to the market. What we offer is direct access to the market, which enhances the price ability, as well as enables the individual customer to see how the market is treating them,” explains Littman.
The Revolution software routes orders directly through TradeCast Securities to the exchanges and features streaming data and a ticker across the top of the screen which can be customized to follow up to 50 stocks. The Revolution screen is divided into four quadrants which can also be customized by the user and include an order-entry box and data such as real-time Level I quotes and a section for the users personal portfolio which updates profits and losses continually. “You don’t have to call up your broker, you don’t have to do the math at the end of the day,” says Earthman. “You know exactly where your positions are, how many shares have been traded, and realized and unrealized profit and loss.”
A third quadrant shows TradeCast’s analytics and alerts while a fourth section has S&P MarketScope headline news and other stocks to watch. Use of the Revolution software requires opening of a TradeCast Securities account with $1,000 and a per-trade fee, which is adjusted as the number of trades increases. For an additional monthly fee users can subscribe to Level II quotes.
The upgraded Elite product also routes orders directly through TradeCast Securities and features TradeScout functionality, which routes orders through pre-selected market makers. Users can set up custom charts and overlay up to 16 analysis features over the charts. Streaming ticker data from the NYSE, AMEX and Nasdaq as well as S&P MarketScope are also available on Elite. The connection can also be monitored through Elite’s Safety Net, which restores interrupted trades if there is a disruption. The monthly user fee for Elite is $179.95 and is waived if users execute at least 50 transactions a month.
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