The account minimums will also drop, helping out the more casual traders quite a bit.
Schwab will also offer 3 free wire transfers per quarter for accounts over $100k, which is nice for us active traders who need to move funds. The Level 2 access fee at CyberTrader has been $249/month for accounts trading fewer than 40,000 shares each month, but that will drop to $10 per month at Schwab for those same accounts (it will be waived for any account with 10 trades per month). As a result, CyberTrader clients will be able to trade on virtually the exact same platform.Īdditionally, fees will be much improved in a few areas. The active trading fees will be dirt-cheap just as they currently are with CyberTrader, but some benefits will obviously come about from this integration.ĬyberTrader has been the driving force for Schwab’s StreetSmart Pro platform, which is a modified version of the CyberTrader Pro platform. In late 2007, CyberTrader plans to fully integrate with Charles Schwab, bringing the best of both worlds together. I’ve used Schwab for my longer-term accounts and CyberTrader for my active trading accounts, but today there’s some big news I just received from CyberTrader regarding some changes coming a little later this year. CyberTrader is owned by Schwab, so it’s been no surprise to see quality customer service provided by both of them.
I’ve been a Schwab client for about a decade now, and I’ve been trading through CyberTrader for about 4 years.
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