Map of Cheltenham/Melbourne on When E*TRADE first came out, it seemed that they were the next best thing since sliced bread, but since then, a newer and faster service emerged. If you’re not playing with the quickest service available, others are beating you to the punch. In order to understand the disadvantages to the active trader, we need to discuss the basic functionality of the majority of online brokers. Using a Web-based broker in active trading has no advantages. They are too slow. When we discuss online brokerages (OLBs), we are talking about firms such as E*TRADE, SureTrade, Ameritrade, Schwab, and Datek. These firms work very well for the investor or the trader who makes a few trades a year. Map of Cheltenham/Melbourne 2016.