Best direct access broker for low priced stocks

T

trade_addict

I trade a lot of stocks under $5. Paying per share costs can become expensive when trading 10K at a time. Can anyone recommend a broker that can cut my commissions but still allow me direct access?
 
Quote from trade_addict:

I trade a lot of stocks under $5. Paying per share costs can become expensive when trading 10K at a time. Can anyone recommend a broker that can cut my commissions but still allow me direct access?
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what are you paying now? most direct access firms charge 9 or 10 bucks + ecn fees, OR a flat .005 - .01 per share. SO like 50 - 60 bucks for 10k shares.

of course Ameritrade is a flat 10.99 for any size but that isnt direct access.
 
See the sponsor of this forum (former PointDirex)
They have a special pricing for ET members but also a normal pricing which might be interesting you
 
Quote from Cdntrader:



what are you paying now? most direct access firms charge 9 or 10 bucks + ecn fees, OR a flat .005 - .01 per share. SO like 50 - 60 bucks for 10k shares.

of course Ameritrade is a flat 10.99 for any size but that isnt direct access.
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I'm currently using Ameritrade, but they only have access to the ISLD ECN & i'd like to be able to route through BRUT,ARCA,BTRD etc also.
 
Quote from zxcv1fu:

If you are an Apex with Ameritrade, you will get free level 2 and lots more ECNs....
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Yeah i'm already Apex member, but on their web site it only mentions Island ECN. Which other ECN's do they route through? TIA
 
Click Quote & Trade, see the Send To. They only say ECN, SOES, MM, Island & Auto Routing. Call the Apex tech support to ask the question. I use Auto & happy with the fills..
 
tade_addict, the others are referring to the DATEK platform, which Ameritrade bought, but has not fully integrated yet. The ameritrade.com site only has ISLAND routing available at this time. They should be coming out with the merged site within the next couple months. The new site will have full order routing.

If you don't want to wait that long, there are always others such as MB Trading (http://www.mbtrading.com) and CyberTrader (http://www.cybertrader.com)

Needless to say, QuoteTracker will have full support for the merged Ameritrade trading platform once it is available.

Jerry Medved
http://www.quotetracker.com
 
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