Founded in 1996 by Jeff Citron and Joshua Levine, Island ECN was one of the first electronic communication networks (ECN) for equity trading. Citron had a background in trading whilst Levine specialized in software development. At Datek they developed Watcher, one of the first programs that provided real-time quotes and order information. Traders used Watcher to trade NASDAQ stocks. Datek Securities is now TD Ameritrade, one of the largest American brokerage firms. Island ECN became usable in 1997 and Istinet acquired Island ECN in 2002, renaming it Inet.
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.