For the last two decades, the trading process has changed dramatically. 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 the technological development, the advanced software infrastructure and the high-speed internet connection, people are now empowered to get in the role of traders and make their own decisions, without having to rely on someone else.
In this DAS Trader review, you will understand one of the main reasons why, in recent years, day trading became so accessible to anyone.
In the next paragraphs, you will be able to find out more about the pros and cons of the DAS Trader platform and what are the reasons it became so popular among the wide audience.
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What is DAS Trader?
Karen Gentile, the founder of DAS Trader suggests that 15 years ago, 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 specialize in the development of 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 main products of the company 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. It is a desktop application that can be connected to a brokerage account, in order to be able to manage one’s trades.
DAS Trader Professional is an advanced desktop platform that provides everything needed in order for a trader to feel comfortable doing his job - 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 in details. DAS Trader PRO offers a wide variety of functions that will satisfy most day traders.
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 graphs, such as Ichimoku clouds for example. The charts can be modified to show time frames from 1 minute to 1 month.
Users can also add trend and Fibonacci lines to the graphs, in order to further optimize their observations.
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
However, when it comes to screening features, it is worth mentioning that DAS Trader PRO is quite limited. The tool lacks search criteria and offers only a 52-week high and low, RSI and price change (since open).
DAS Trader PRO also offers access to Level II data which is organized in a comfortable box, 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.
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 it provides its users the chance to trade derivatives.
The platform grants access to a variety of trading venues, as well as different types of contracts. The only downside is the fact that there are no advanced strategies.
Plans | Costs | Pricing
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 relatively thin and a bit incomprehensible.
If you opt to use the platform directly from DAS Services, you will be charged a monthly fee of $125 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 is delayed.
- Founded: n.a.
- Number of members: n.a.
- Company address check: 2215-B Renaissance Dr. Las Vegas, NV 89119
- Free trial: 14-day free trial and free access with some brokerage accounts
- Free resources: YouTube
- Price range: $125 per month, less with some brokerage accounts
- Website navigation: easy, but more detailed information would be beneficial
Who is DAS Trader Best for?
The platform is suitable for equity traders that want to gain direct access to markets 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.
However, DAS Trader PRO is more suitable to beginner-to-intermediate traders. Those who want advanced features or base their trading style predominantly on charting is better to look elsewhere.
DAS Trader Alternatives
For traders who are on the search of a highly-functional and professional platform, it is important to note that DAS Trader PRO isn’t the best choice.
It is not as user-friendly as some brokerage accounts trading tools like Charles Schwab’s Street Smart Edge or Questrade’s solution - IQ Edge, nor as functional as TD Ameritrade’s thinkorswim.
However, it is much better than TradeStation’s web-based solution.
My personal preference is Interactive Brokers Trader Workstation connected with Trade Ideas Pro.
DAS Trader PRO Review Summary
How is about day trading with DAS Trader? DAS Trader PRO is a nimble platform that will do the job for intra-day and momentum traders.
Although it is quite limited in terms of advanced charting tools, technical indicators and analysis features compared to eSignal and NinjaTrader, it offers more than enough to satisfy beginner-to-intermediate market participants.
However, considering the hefty subscription fee that it comes with, as well as the fact that the platform underperforms a big part of its rivals, it surely remains far from being the go-to solution.
Platforms like Street Smart Edge and thinkorswim are way better choices. The latter, for example, comes for free and is much more functional than DAS Trader PRO.
So, all in all, figure out what your trading needs are and research the market before deciding on which platform is the best choice.
- 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 in the platform’s YouTube channel
- Hot-keys and shortcuts that can be customized according to the traders’ preferences
- Charting features are not so advanced and still have some bugs
- Limited instruments to trade
- Way too one-dimensional, when compared to its main competitors
- Quite expensive solution which makes it fall behind its main competitors
About the Author
Alexander is an investor, trader, and founder of daytradingz.com. After devoting many years to educating himself on powerful day trading techniques and effective investment styles, he started trading and investing more actively. In the past 20 years, he has executed thousands of trades. In 2015, he began writing articles about trading, investing, and personal finance. He is very passionate about sharing his knowledge and strives for success in himself and others. Alexander has been featured on Benzinga, Rockstar Finance, and ESI Money.