For the last two decades, the trading process has changed significantly. Today, there is no sign of the colorful-tied alpha-male traders screaming at the pits of the exchanges. Nowadays, the trading process is brought to the masses, and everyone can become a part of it. Stock Screeners and stock market analysis tools are important for day trading profitability.
Due to technological development, advanced software infrastructure and the high-speed internet connection, people are now empowered to get into the role of traders and make their own decisions without relying on someone else.
In this DAS Trader review, you will understand one of the main reasons why, in recent years, day trading has become so accessible to anyone. In the following paragraphs, you will learn more about the pros and cons of the DAS Trader platform and why it became so popular among a wide audience and the main platform among leading direct access brokers and brokerage firms.
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What is DAS Trader?
Karen Barker-Gentile is president and co-founder of DAS Trader. In 2007, when DAS-Trader was founded, most people weren’t able to trade via computers. And tackling this problem was the main reason why DAS Trader came to life. DAS Services specializes in developing trading platforms that help traders get hands-on access to professional tools that can help them bring their strategies to the next level.
Currently, the DAS systems are renowned for providing one of the best execution and real-time market data solutions on the market. They serve all types of clients, from brokers, through clearing companies, to institutional and individual traders.
One of the company’s main products is the DAS Trader PRO platform. It is the reason why the company became so popular and is considered a very good option in terms of cost/quality of service when it comes to day trading platforms. However, users should be aware that DAS Trader PRO is not a brokerage itself. Instead, it is a desktop application that can be connected to a direct access broker to manage trades more effectively.
DAS Trader TRT is a comprehensive suite of trade reporting tools designed for brokers and brokerage firms to manage and monitor their performance. It integrates with other DAS products, offering detailed risk and compliance management capabilities to enhance daily operations and surveillance.
Special Offer from Cobra Trading: Lifetime 33% Commission Discount + DAS Trader for free for 1 Month)Features
DAS Trader Professional is an advanced desktop platform that provides everything needed. From advanced order types through charting tools to real-time multi-account management and much more.
Here are some of the main features of the DAS Trader Professional platform:
- Direct Access Order Routing
- Collocated Order Executions
- Account Management in Real-Time
- Equities and Options Trading
- Multiple Stop Types
- Highly-Advanced Charting Features
- Multiple Monitors Support
Now let’s get into details. DAS Trader PRO offers a wide variety of functions that will satisfy most day traders.
Charting Features
If we take a look at the charting features, for example, it is worth noting that you can take advantage of multiple drawing tools which can be used to visualize everything about the particular trading methodology, as well as print your charts directly.
The window with the charting board can be expanded to fit comfortably within the monitor area. The charts are easy-to-customize as users can change the colors and modify the graphs for a better understanding.
That way, traders can use various types of charts – from basic candlesticks, lines and bars to more advanced charts, such as the Ichimoku clouds. In addition, the charts can be modified to show time frames from 1 minute to 1 month. Users can also add trend lines and Fibonacci retracements to the charts.
Indicators and Studies
Apart from that, DAS Trader PRO users can take advantage of more than 40 technical indicators – from stochastic oscillators, through moving averages, to pivot points and much more. The studies can be applied to the price charts easily, thus providing the chance to conduct a more in-depth analysis.
Traders can also benefit from direct news streaming by arranging them in a separate window on their dashboard. The main news provider is BusinessWire, and the updates are flowing continuously, which makes it comfortable for users to spot any important news that may affect the performance of their investments.
Stock Screening Features
When it comes to screening features, it is worth mentioning that DAS Trader PRO is slightly limited. DAS Trader PRO also offers access to Level II data which is organized in a well-arranged window, showing bid/ask prices from market makers and electronic communication networks like BATS, ARCA, EDGX, etc. (there are more than 18 trading venues available, dark pools included).
Apart from all that, users can easily set up alerts and watch lists. The “Alerts” feature even allows you to upload an audio file, containing an appropriate sound that you may prefer to be used when the platform notifies you about a price change or a triggered threshold.
Watch Lists
The “Watch List” feature, on the other hand, includes tabs with all the relevant information – bid/ask price, last price, open/close, high/low and volume.
When it comes to trading, the good thing about DAS Trader PRO is the fact that the platform grants access to a variety of trading venues, as well as different types of contracts.
Risk Management Trading Platform Features
DAS Trader Pro has great risk management features to help you manage your exposure and limit your losses. One of the main tools is position sizing where you can set your position sizes based on your risk tolerance and current market conditions. Also, it has stop loss orders so you can limit your losses if the market goes against you.
Another great feature is risk reward ratios so you can make sure your profits are greater than your losses. This will help you stick to your trading plan. Plus DAS Trader Pro has real time market data so you can stay informed and make timely decisions. These risk management tools will give you the confidence and control to trade the markets.
Integrated Network and Brokers
DAS Trader Pro is connected to multiple brokers including Cobra Trading and Interactive Brokers. This gives you access to many markets and instruments such as stocks, options, futures and forex. The platform also has multiple market data feeds including NYSE floor brokers so you have access to all the information you need.
Plus DAS Trader Pro has trade reporting tools so you can track your trades and performance. Being connected to multiple brokers and market data providers makes DAS Trader Pro a powerful tool for you to trade your best.
Mobile App and Mac Compatibility
For traders who need to be on the go, DAS Trader Pro has a mobile app that brings the platform to your pocket. The app has real time market data, trade execution and all the risk management tools so you can manage your trades anywhere.
Plus DAS Trader Pro is Mac compatible so you can access the platform from your desktop or laptop. Cross platform compatibility means you can work seamlessly whether you’re at your desk or on the move.
Plans | Costs | Pricing
DAS Trader Pro acts as a reliable market data provider, offering access to various financial exchanges and facilitating efficient trading with low latency and high reliability.
The platform can be used either through a brokerage or directly from its creators for a monthly subscription fee. The information at https://dastrader.com/ is helpful to make the right selection for the subscription.
If you opt to use the platform directly from DAS Services, you will be charged a monthly fee of $150 for the basic option which includes Level II data, real-time quotes and advanced charting features.
When it comes to the brokerage option, the fee that you are required to pay depends entirely on where your account is. However, if you choose to take advantage of DAS Trader PRO through Interactive Brokers, you will be charged anywhere in the range of $100 to $200 per month.
The exact cost of using the platform through a brokerage service depends on the data packages and the traded volume. For example – the more volume you generate (the more trading fees you pay), the lower your subscription fee will be.
In order to find the complete pricing information, make sure to visit the official pricing page and check all available plans, as well as the features included and the total cost of the service. Give DAS Trader a call to ask before you subscribe!
Free Trial | Promo Code
The truth is that the platform may appear relatively expensive to beginner traders or new users. The good thing here, however, is that those who want to get a taste of the service that they will receive for the respective fee can sign up for a DAS Trader demo – a 14-days free trial.
The process is simplified and takes just a couple of minutes. Those who want to check DAS Trader PRO by taking advantage of the two weeks free trial that the company offers can use the live support to contact them. The platform trial grants access to all features and functionalities. The only limit is that real-time data is provided only for NASDAQ. The data for other exchanges are delayed.
Provider Checklist
- Company address check: 2215-B Renaissance Dr. Las Vegas, NV 89119
- Free trial: 14-day free trial and free access with some brokerage accounts
- Price range: $125 per month, less with some brokerage accounts
Who is DAS Trader Best for?
The platform is suitable for day traders that want to gain direct access to markets with brokers like Cobra Trading and take advantage of Level II market data. It is also a good choice for scalpers, intra-day and momentum traders who want speedy access to trade on the go. It can be a good addition to Trade Ideas Pro.
DAS Trader PRO is well-suitable for beginner-to-intermediate traders but also market professionals.
DAS Trader Alternatives
For traders who are on the search of a highly-functional and professional platform with Level Ii data, DAS Trader PRO is a good choice. It is not directly comparible to brokerage accounts trading tools like Charles Schwab’s Street Smart Edge or TD or TD Ameritrade’s thinkorswim.
However, it is much better than traditional web-based solutions. DAS Trader Pro can also be connected with Interactive Brokers, and at the same time, Interactive Brokers Trader Workstation can be connected with Trade Ideas Pro.
DAS Trader PRO Review Summary
How about day trading with DAS Trader? DAS Trader PRO is a fast day trading platform that will do the job for intra-day and momentum traders, although it is limited in terms of advanced charting.
See Also: Best Brokers for Short Selling
Pros
- A wide number of venues to trade on and direct routing to more than 50 destinations (smart order routing included)
- Easily customizable windows to arrange the working dashboard that best fits the individual needs
- Lots of how-to educational videos on the platform’s YouTube channel
- Hotkeys and shortcuts that can be customized according to the traders’ preferences
Cons
- A separate brokerage account is needed
- Only US-stocks, Canadian stocks and forex available
- A subscription adds a minimum of $100 to the monthly expenses
Rating: ★★★★
