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Get to know Datek Online Holdings Corp.

Datek Online Holdings Corp. was a prominent online brokerage firm that rose to fame in the late 1990s. It revolutionized the industry by offering low, flat-fee commissions (famously $9.99 per trade) and providing individual investors with direct access to the market through its "Island ECN" (Electronic Communication Network). The company's origins trace back to a day-trading firm, and it became a major competitor to rivals like E*TRADE and Charles Schwab. In 2002, in a landmark deal for the online brokerage industry, Datek was acquired by Ameritrade Holdings Corporation for approximately $1.3 billion. The Datek brand and its technology were subsequently integrated into Ameritrade, which later became TD Ameritrade and was itself acquired by Charles Schwab.

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Datek Online Holdings Corp.

United States

Founded in

1996 (30 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.