June 15, 2007 at 7:10 pm | | Comments 5

CyberTrader & Schwab Integration Update

A little while back, I discussed how CyberTrader is integrating with Schwab, and the discussion has been somewhat ongoing about what all that will mean. Lots of traders were concerned that certain things they enjoy right now with CyberTrader might not be included unless Schwab’s StreetSmart Pro were to make some improvements. Good news – here’s an update of some details I got today through an email sent by Vincent Phillips, CEO of CyberTrader addressing some of the big items of interest:

Per-share Pricing – CyberTrader’s currently published equity pricing, including per-share pricing, will be honored at Schwab for all current CyberTrader clients regardless of your assets or trading activity. Call Client Services with any questions about your pricing.

Strategy Testing Tools – The same advanced back-testing suite you currently use is already integrated within Schwab’s StreetSmart Pro® trading platform.

Saved Layouts/Watch Lists – Upon integration, your saved CyberTrader Pro layouts and watch list settings will automatically load into StreetSmart Pro. You will not have to learn how to use a new trading platform – it will look quite familiar to you. Research – In addition to continuing to receive free and MarketEdge research, through Schwab you will also get access to proprietary content like Schwab Equity Ratings, integrated into StreetSmart Pro.

Direct-Access Orders – Schwab’s equity direct-access order-routing technology and tools were developed by CyberTrader. These tools provide clients with choices regarding where to route orders.

Advanced Order Types – In addition to currently supporting limits, stops, trailing stops and alerts with Schwab by the end of 2007 you will also have contingent order-entry capabilities to simultaneously place profit and loss order targets with your buy and sell orders.

Real-time Profit & Loss – Upon integration, you will receive streaming lot-level cost-basis data currently available in your trading platform.

Futures Data – All CyberTrader clients will receive CME® futures data through StreetSmart Pro.

Starting right out with the per-share pricing is great, although they addressed that from the very beginning. Platform-wise, I’m particularly happy to hear that the contingency orders (brackets, OTO, OCO) are still coming, and that futures data will still be available for current CT clients after the integration (since I watch them all day long).

I’ve traded with CyberTrader for several years, so I shared some of the concerns since my experience with CT has been ideal from day 1. I’ve also been a Schwab client for even longer, and I’ve never had a complaint there either. Changes in anything are not always perfect, but it looks like what’s important to me will be kept intact, and unless you’re using an API or placing basket orders, any difference between the two should be minimal. Looks like a nice list and I get the feeling they’ll keep us posted regularly going forward.

Enjoy your weekend & Happy Father’s Day!

Jeff White
President, The Stock Bandit, Inc.
Swing Trading & Day Trading Service

[tags]Stock Market, Day Trading, Stock Trading, Investing, Swing Trading[/tags]

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  1. What do you think about CyberTrader Trading Room? I heard it is a profitable trading room.

  2. Hey Bill,

    Honestly I have never been in the CyberTrader chat room, as I have a member-area message board where I hang out during the trading day over at I would bet there are some good traders in there, but as with any chat room free or paid, I’d observe for a little while and determine who knows their stuff and who doesn’t before you start following trades.

    Give us an update here if you think of it after you check it out!


  3. I don’t understand why CyberTrader customers are so concerned that Schwab match CT’s per-share commissions? Schwab Active Traders get flat $9.95 equity trades, and options are 75c per contract. That’s CHEAPER than CT’s .006c per-share pricing once you > 1658 shares! And the options are 25c CHEAPER right out of the gate. Also if you do a buy-write covered call, for example, with Schwab, you pay only a single $9.95 comm + 75c per contract (instead of double comms)

  4. Good point Nick, thanks for pointing that out! Yes there are going to be plenty of advantages where things end up better than even what CT offers.

    Thanks for reading and chiming in, and trade well!


  5. The CyberTrader / Schwab intigration has been done very poorly. Many features usefull to Day and very active traders have been dropped. There is a clear sense among the trading community that Schwab is not interested in this type of trader. You can find more commentary on this by checking out other web sites like this and/ or Googleing with the proper key words.

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