Best equity commissions?

What is your commission rate?

  • Above .01 per share

    Votes: 9 6.7%

  • .01 per share

    Votes: 5 3.7%

  • .009 per share

    Votes: 1 0.7%

  • .008 per share

    Votes: 7 5.2%

  • .007 per share

    Votes: 8 5.9%

  • .006 per share

    Votes: 12 8.9%

  • .005 per share

    Votes: 38 28.1%

  • .004 per share

    Votes: 14 10.4%

  • .003 per share

    Votes: 20 14.8%

  • .002 per share

    Votes: 21 15.6%
  • Total voters
    135
Quote from dantes:

IB's rates at $0.005 per share is awesome for smaller traders (less then 1 million shares a month) and hard to beat. Many fund pros pay a lot more then that.

Getting down to say $0.003 takes about 10 million shares per month. You can come lower but then you have to be among the really big players (millions of shares a day).

To get even lower you have to become a direct member of nasdaq, NYSE and ECN's.
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untrue. many firms offer .005. many go lower with only 500K/month volume.
 
This poll will be skewed towards .005 because that is the current IB all in rate and I would estimate that 90% of retail traders on ET are with IB.

nitro
 
Quote from areyoukidding?:

untrue. many firms offer .005. many go lower with only 500K/month volume.
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Agree, i met a trader in Bangkok nearly 2 years ago,
he was getting .00025 (his monthly volume ranged from
3 million to 5 million shares) he was getting thompson for screening stocks for free also
 
Quote from nitro:

This poll will be skewed towards .005 because that is the current IB all in rate and I would estimate that 90% of retail traders on ET are with IB.

nitro
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is that for retail only? We need super dot or whatever nyse is using now and real time level 2s on nasdaq.

Can we get leverage at IB? intraday? overnight?
 
Quote from greg barbre:

is that for retail only? We need super dot or whatever nyse is using now and real time level 2s on nasdaq.

Can we get leverage at IB? intraday? overnight?
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Hmmm - some of us forgot that this was the pro forum, and IB doesn't really apply if you need more than retail leverage. That is, AFAIK, even if you created an LLC entity, IB will limit your leverage as required for retail accounts (i.e. 25% margin, 50% Reg T must be met at 15:50 ET).
 
Quote from alanm:

Hmmm - some of us forgot that this was the pro forum, and IB doesn't really apply if you need more than retail leverage. That is, AFAIK, even if you created an LLC entity, IB will limit your leverage as required for retail accounts (i.e. 25% margin, 50% Reg T must be met at 15:50 ET).
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yeah
we need the pro firms not retail.
 
what amazes me about being on et the last 18 months is the sheer amount of people with only 5k and using prop leverage. i bet 90-95% on here trade with 5k and use 20 to 100-1 leverage
 
Quote from joeyata1:

what amazes me about being on et the last 18 months is the sheer amount of people with only 5k and using prop leverage. i bet 90-95% on here trade with 5k and use 20 to 100-1 leverage
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you really think that? I think that is the bottom requirement
 
Probly not. The rates are not fixed. They are generally negotiated with each trader, based on volume and other factors. I'd suggest just contacting the ones that are commonly talked about here, and finding out what they'll do for you - there aren't that many. Ones that immediately come to mind are:

Assent
Echo
Bright
Genesis
 
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