Schwab Trader CT Proâ¢, the new software version, features a host of trading tools geared toward the most advanced active traders, including streaming charting, a powerful stock screener, advanced stops, the latest news as well as technical and client support via instant messaging, e-mail and phone.
"Our new software provides yet another choice for this segment of traders who need fast execution speed and trading power," said Andy Gill, senior vice president of active trader marketing at Schwab. "We believe that the depth of the Schwab Trader CT offering, from its competitive pricing, to its dynamic, powerful trading tools and the high level of service traders can access, makes it the most compelling and economical offer for the mass active trading community."
The Schwab Trader CT offer is a key component of Schwab Personal ChoiceTM, a new approach to trading, investing and advice that allows investors and traders to choose how they want to work with their broker. In addition, as part of a broad range of price cuts announced yesterday by the company, the existing $9.95 commission for Schwab Trader CTTM clients now applies to online equity orders of any size, no matter how many shares are traded (eliminating the additional $0.01 per share for all shares over 5,000). The company is also reducing the number of trades required to waive the monthly account fee from ten to five per month. The fee (when applicable) has been reduced from $40 to $20.
"Our Schwab Trader CT offer is off to a great start with active traders," said Gideon Sasson, executive vice president for active trader services at Schwab, who noted that Schwabâs daily average revenue trades (DARTs) by active traders increased nearly 68 percent to 91,500 during the first quarter of this year compared with 54,500 during the same period last year. "Schwabâs continued investment in CyberTrader technology enables us to continually enhance our trading technology for all Schwabâs active traders."