Das Trader Review
- Broker Integration
- Level 2
Das Trader Pro is a direct-access trading software packed with features. Many day traders swear by this desktop software platform. We did an in-depth review to find out if Das Trader Pro is really the ideal platform.
About Das Trader
DAS trader Pro is a direct-access trading platform with robust trading and analysis tools that make it an ideal value for active intraday traders. As a reminder, it is not a brokerage, but a standalone desktop software platform that can be connected to compatible online brokerage accounts to manage trades or be used as a research platform independently with the demo version. DAS trader can be accessed either through a licensed brokerage partner or directly from the creators for a monthly subscription fee.
DAS, Inc. is a market data provider for various exchanges including CBSX, Nasdaq OMX, NYSE/ARCA, Direct Edge, OTC Markets, CBOE/OPRA and BATS. They are also a connectivity provider with access to over 50 routing destinations serving institutional and retail customers. The DAS Trader PRO platform enables trader execution, portfolio management, analytics and research capabilities.
Das Trader Pricing
The DAS trader PRO (DTP) platform can be subscribed directly from the creators at $125-per month paid through PayPal for the basic subscription that includes real-time quotes, level 2, advanced charts and basic built-in scans.
Many online brokers offer Das trader PRO at varying rates ranging from free up to $150-per month depending on traded volume, promotions and data packages. With trading platforms, brokers may offer discounts or even waive the software and platform fees based on total number of shares traded monthly. Brokers may charge exchange and data in addition to the platform fees.
Das Trader Features
DTP offers a complete trading platform catering to active intra-day, swing and portfolio traders. It was designed it with the trader in mind. The software is not a resource hog, unlike many of the more mainstream online trading platforms. If there is one word to describe DTP, it’s nimble. Everything is light and nimble, from order fills to level 2 windows.
DTP charts can be configured to the basic line, bar or candlesticks as well as more exotic types like Heiken-Ashi and Ichimoku clouds. Time frame sections range from 1-minute to 1-month with the option to have pre and post-market data applied to intraday charts. This makes a big difference for stocks that have large gaps up or down. Trend lines can be added to the charts along with Fibonacci lines, projections and arches.
With over 20 different studies ranging from moving averages to pivot points, MACD and stochastic oscillators, DTP has enough technical indicators to satisfy seasoned traders. Popular price and momentum technical indicators are built into the platform. It’s important to configure the data to make sure you have a large enough sample size to get accurate reads. Compared to mainstream online brokers, DTP has a relatively thin line-up of indicators, but it works for me. Less bulky bundled tools mean less system resources wasted.
Level 2/Order Entry
Surprisingly, Level 2 and time and sales are included with the subscription. DTP enables point-and-click executions with a wide range of limit and conditional orders. Traders can also choose reserve orders to hide transparency on limit orders. Direct order routing preferences can be configured on the platform to send orders to over 50 different market makers, ECNs and dark pools. However, the scope of access relies solely on your brokerage.
Smart Route Configurability
Users can also configure the order of routing preferences and conditions based on which exchange the underlying stock is listed. There is a smart routing option that can also be configured by user and brokerage preferences. This is a true direct-access platform but needs to be connected to a brokerage account with access capabilities to be most effective.
The news feed can be activated through third-party subscriptions or brokerage platform. This platform if more tailored to technical and chart-based trading and relatively light on fundamental analysis tools.
The scanner can be customized for specific filtered candidates. The settings are limited. The built-in scans are very useful. I like to run the High Low Hit List during the day to find stocks making fresh moves on the day to ensure that volume and momentum are still present.
Watch Lists and Alerts
Users can set price alerts for stocks on their watch list in the Market View or Montage window.
DTP accommodates basic trading with options contracts if the data subscription is permissioned and configured through the hosting brokerage or direct subscription. Traders can made directional trades and manual spreads. There aren’t any of the more sophisticated strategy tools that automate complex multi-leg trades.
DTP is a flexible, robust and nimble platform. One of the key tools that intra-day scalpers should consider is the use of hot-keys. DTP enables many convenient hot-key configurations to expedite trading processes. I like the ‘Cancel All Orders’ hot-key for the peace of mind from not letting an open order get accidentally filled. The range of order types including conditional orders and bracket orders enable me to partially automate some of my strategies.
While these aren’t unique tools, they are designed with the trader in mind to work efficiently and quickly. While larger discount brokers have beefed up features and indicators, DTP has just the right number of tools to remain nimble, stable and robust. Efficiency is the name of the game. Having a franken platform that does a little bit of everything is a resource hog.
DTP can be connected to Interactive Brokers accounts with subscription packages ranging from $100 to $200-per month based on data package selection. Other online direct access brokers may offer DTP as an optionable trading platform. It’s best to check with your broker if they offer DTP.
What Type of Trader is Das Trader Pro Best For?
The Das Trader Pro platform is best suited for intra-day traders that want speedy direct-access fills and the tools to make quick decisions on the fly. The platform is flexible, nimble and efficiency, which matters to seasoned traders that don’t need hand holding. Scalpers and momentum traders will find DTP most appealing.
- Complete trading and research platform that’s easy on the wallet
- High Low Hit List is a great idea generator
- Hot-keys, reserve, bracket and conditional limit orders empowers intra-day momentum trading
- Robust execution tools including direct routing to over 50 destinations
- Great value for the price.
- Configurable routing preferences including smart routing
- Limited options trading analytic tools
- Chart indicator library is relatively small