A Modest Proposal (for IB)

M

mgkrebs

How about a commission scale that would reduce commission on a sliding scale, sort of like the 1/2 cent per share charge on share amounts over 500 on a trade. What I'm proposing is that IB give a customer that 1/2 cent rate on all subsequent shares for the same symbol on a given day.

This would be great for scalpers or index traders who trade the same symbol repeatedly throughout the day.

Example, trade 1000 qqq, pay $7.50, next trade and each following trade on that day, trade 1000 qqq, pay $5.00.

How 'bout it?
 
Originally posted by mgkrebs
How about a commission scale that would reduce commission on a sliding scale, sort of like the 1/2 cent per share charge on share amounts over 500 on a trade. What I'm proposing is that IB give a customer that 1/2 cent rate on all subsequent shares for the same symbol on a given day.

This would be great for scalpers or index traders who trade the same symbol repeatedly throughout the day.

Example, trade 1000 qqq, pay $7.50, next trade and each following trade on that day, trade 1000 qqq, pay $5.00.

How 'bout it?
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LOL - sure!

nitro
 
Originally posted by mgkrebs
What I'm proposing is that IB give a customer that 1/2 cent rate on all subsequent shares for the same symbol on a given day.

This would be great for scalpers or index traders who trade the same symbol repeatedly throughout the day.
More...

At the expense of those who trade just a little of each stock during the day. The money has to be made up somewhere. It's the same argument as the $25 cap on a single order - subsidising some orders at the expense of others.
 
I'm sure they well take that into consideration since you have no idea about there cost structure and throwing out a numbers that lower revenues doesn't make much sense, especially when you have some of the lowest prices around. Questions about service or execution platforms work, but I won't touch the pricing issue, they aren't a public company so they don't have to disclose that info (If you do have an account with them or request it they will send a financial disclosure information they send out quarterly with balance sheet info), but you won't find out there cost per trade, and how viable such a proposal is, and I'm sure that they'll take a random posters suggestion though.
 
And I want the ability to implement a do-over order. Where you can just cancel a trade a day that you don't want. Hence the name Do-over Order. I'm sure you'd increase you customer base by millions.
 
Don't expect a cap on trade fees in the near term. It was discussed in the past but subsidizing large trades at the expense of the bread and butter doesn't make sense.
 
Originally posted by DaytraderDave
And I want the ability to implement a do-over order. Where you can just cancel a trade a day that you don't want. Hence the name Do-over Order. I'm sure you'd increase you customer base by millions.
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How about a free use of the IB time machine instead?
 
Originally posted by bungrider


How about a free use of the IB time machine instead?
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I, too, would like this ability. I did a trade in February that will sting for years...
 
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