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Welcome to our "BROKER" page which will help you 
to define and select which broker is going to be 
the "best broker for you"...

    Many of our Members and visitors have repeatedly been requesting detailed information on how to select a broker which will indeed fit their specific and personal needs, and this is the reason why we have decided to create for you that new section to our Website.

    Please feel free to return to that section regularly as we will keep adding more information to it.

    We sincerely hope that the information here under will indeed help you in your search for the "best broker for you".  Chosing the best broker that you can find will be a critical part of the success (or lack of) of your Trading journey and activity.

    Chosing the "wrong" broker or chosing a particular broker for the "wrong" reasons, without knowing what is really essential and critical to expect from a really great broker, can be the source of very poor trading results or even, in some situations, of major losses.  
    If, for example, the trading platform/software of your broker is too complex to use or too unreliable, if their service is lousy, if their customer service representatives are poorly trained or inefficient, if their phone access is unreliable or if it takes too long to get someone on the line who will be well trained to work under pressure, if it takes too long to get someone to help you close a losing position as your home Internet access will have just went down (and believe me, when this happens (and it will!), every second passing by might cost you hundreds or even thousands of dollars and you will so wish at that time, if you did not do it before as you should have, that you had indeed spent all the neccessary time and education chosing the best and "right" broker for you and most importantly, having done so for all the "right" and intelligent reasons !

    As you can easily guess, we are often asked the question "Which on-line broker(s) does Pascal MONMOINE use in his own Trading ?... "

    From an ethical standpoint, unlike most other Trading public figures, Pascal Monmoine has always refused to "endorse" or strongly recommend any particular broker as she so strongly feel and believe that it should really be up to YOU to do your own research and to decide which company/broker you should ultimately trust with your money and with your Trading.

    However, in order to still be able to help you somehow with that question and that very critical choice that our Members and visitors ask so frequently about, but yet without "recommending" per say any particular broker more than another, we will limit our answer to simply sharing with you the name of the brokers that Pascal Monmoine is currently using in his own trading.  Also, in the spirit of helping you as much as possible from an educational standpoint (which is always Pascal Monmoine's primary goal), we will also share with you a suggestion of a basic list of questions to ask any broker who you are considering and that you might want to add to your own personal list of selection criteria in your search for the best broker for you.

    But once again, please make sure that you really understand that we are sharing that information with you only for "INFORMATIONAL" purpose.  
    Please do NOT read or perceive that information as a "recommendation" or as an "endorsement" in any way and by any means, as it is not.  
    As long as you clearly understand and accept our position about that, please feel free to keep on reading.  If you have already browsed through our Website, you already know how "ethical" we want to be with everything that we do, unlike too many other "purely commercial" Websites...

    
    With that being said as clearly as we could, let's now discuss some of the brokers which Pascal Monmoine is currently using and what he likes and dislikes about them.
    He is currently mainly using 2 brokers for his Trading/Day Trading (he also has other accounts with other brokers which he uses to practice and research other styles of trading/investing). 

    His main trading accounts are currently with a European broker, WH Self Invest (click here if you want to go to our "broker" page in French and read more information about that broker) and with an American broker, CyberTrader .

    Each of these brokers offer several trading platforms, each of them providing various features and various commission and "software" costs.
    
    One ot the very first things that you need to realize in your research for the "ideal" broker to fit your specific needs is that you should never judge or select a broker mainly based on the amount of the Trading COMMISSIONS that they charge.  
    This would really be a major mistake, as you are quickly going to realize after we explain to you a few things about that, and eventhough most people will so often and so wrongfully make a broker's "low commissions" their primary selection criteria !
 
    There are so many other much more critical criterias to consider when searching for a great broker such as the speed of execution of your orders by this broker, the quality of their technical support and customer service, the speed at which you can cancel and modify your orders with their software, the reliability of your STOP LOSS orders and whether they are saved on their servers or not etc... (more detailed information about all these criteria is available in our Day Trading Course).

    Let's talk a little bit more 1for example about one of these criteria: let's pick the SPEED of execution of your orders...
    Pascal Monmoine is usually very much into the spirit of " I love to squeeze every cents that I can from any personal purchase or business expense that I do and I am always doing my very best to always pay LESS for the same product or service ... NOT MORE ! ...".
    But when it comes down to "business" (and you should indeed approach Day Trading as a "business", even if it is the most interesting and exciting one that we know of...), Pascal Monmoine also knows what does make sense and what does not in that spirit of "keeping your costs down" ... but only when it is indeed intelligent to do so! 
    And in the spirit of our present discussion, Pascal Monmoine actually know that in that particular case, things can actually be very different from what they seem... and, unlike what most people would think, paying a few dollars "more" per trade in commissions could actually end up SAVING him tens or even hundreds of dollars per trade (which could then translate into tens of thousands of dollars every year) simply because of the enormous gain in the efficiency and speed of his trading entries and exits being made using a highly efficient broker ... instead of a less efficient and slower one heavily advertising their "low commissions" !...

    If, for example, you use a broker offering you "dirt cheap" commissions but that this broker, due to an inefficient order routing or trading software makes you "waste" a few precious seconds in executing your order, this could then very well potentially cost you a lot of money in terms of the inefficiency of the entry or exit of your trade...   
    Let's say for example that you want to enter an order to buy 2,000 shares of MSFT at 10:12:02, when the current "ASK" is $22.31.  
    The "efficient" broker might get you in on that stock at a price of $22.32 for example, costing you a "slippage" of only $0.01 because they were able to "route" and execute your order very efficiently in less than 2 seconds.

    On the other hand, the "cheap commission" broker who might have a less efficient "routing" system and software might very well end up, for example, taking 8 seconds to execute your same order but the major problem is that during these extra 7 seconds, the price of MSFT might have already run to $22.38 for example !!!  
    Your "cheap broker" might have supposedly "saved" you for example $5 in commissions (as compared with another broker with higher commissions) and this might apparently look like a great deal for you...  but your actual "hidden cost" of using that broker would actually be of $120 !!!!  (($22.38 - $22.32) x 2,000).  You were convinced that you had made the most intelligent choice by chosing that broker and you were so proud to save these $5 per trade ... when the harsch reality, unknown to you, is that you might be totally wasting $115 or so on so many of your trades !!! (if we use the figures of our example) ... we will let you think about all that... 

    And that example is only one of the many "hidden cost" which hundreds of thousands of Traders and investors are being subjected to every day, simply due to their limited education and to their lack of knowledge about how things really work in our trading World.  They just do not know which selection criteria they should be really looking at and that often translates into, at best, many losses that could have been avoided or at worse, in the total failure of teir trading career.

    Also, as a last note about that example, please do not forget that what we just explained and demonstrated to you only applies to ... your ENTRY of the Trade !.  It does not include your money wasted on your EXIT of that same trade !!!... 
    If you are also being subjected to the same costly "lack of efficiency" from your broker when you close that same Trade, you might indeed be victim of an ADDITIONAL extra "hidden cost".  If we consider the "waste" on the exit to be similar to the one on your entry, by the time your trade is totally over, you might very well have wasted 2 x $115 which amounts to a very substantial $230 of potential purely wasted money !!!! ... 
    Remember how you were so convinced that the "cheap commission" broker seemed like such a great bargain to you ?... maybe you are starting to think and perceive things quite differently by now?...  Quite interesting to learn how things REALLY work in our trading World isn't it ?...

    And once again, please be aware that this is only one example out of the many criteria which are so important to consider in your research process and which are also usually totally unknown to the general public and to beginners...
    
    So please do not make anymore the mistake of only comparing the "direct" and "visible" costs of your Trades.  The selection process of finding the "best" broker for you is much more complex than that...