Lower midtown on the west side....?
Do it for the pizza. Appreciate your geographical lot in life, queensny.
Broker for My Scalping Strategy
- Thread starter queensny
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Lower midtown on the west side....?
Do it for the pizza. Appreciate your geographical lot in life, queensny.
You doing that via selling flow to an HFT?
Robert Morse
Sponsor
We offer a number of routes. Any DMA route is routed directly to the Exchange/ECN you choose. This is the list of routes for Lightspeed Trader.
https://www.lightspeed.com/pricing/routing-fees/
Any of the SMART routes that save on the take fee likely have an equity market maker on the other side. Same with algos and dark pools. Except for the LightSpeed Web Trader, you get to choose on each order.
https://www.lightspeed.com/pricing/routing-fees/
Any of the SMART routes that save on the take fee likely have an equity market maker on the other side. Same with algos and dark pools. Except for the LightSpeed Web Trader, you get to choose on each order.
That's a big difference and when the "SMART' is not that "smart".
Robert Morse
Sponsor
I'm not as concerned about sending to MMs as you, but most SMART routes are not SMART. We give you the choice on most equity orders. Most retail brokers only offer SMART. We are a little different as we straddle retail and institutional needs.
That's because the "most smart routers" which you refer to are the smart routers of the HFTs buying the flow. By design they may not be smart for the person sending the order but they certainly are smart for the HFTs who shave a penny here a penny there to their benefit.
I don't see the $4 rate but $4.95 for unlimited shares at Fidelity.
All online U.S. equity trades
Any number of shares or trades $4.95 per trade
https://www.fidelity.com/trading/commissions-margin-rates
Is this a special rate they gave you?
I also can't find written documentation of passing through ecn rebates.
Many thanks for any help.
I don't see the $4 rate but $4.95 for unlimited shares at Fidelity.
Your absolutely right. I use a bunch of brokers and made a mistake on that post. It is TradeStaion I was thinking of that has the $4 commissions but that is only for IRA accounts. The other correction is Fidelity provides direct ECN access to ARCA, NYSE, NSDQ, but not the IEX. You can take liquidity and not have to pay extra for this like with most brokers. I would think a broker like Lightspeed has a much more professional platform and data feed - I only trade my 401K with Fidelity.
Your absolutely right. I use a bunch of brokers and made a mistake on that post. It is TradeStaion I was thinking of that has the $4 commissions but that is only for IRA accounts. The other correction is Fidelity provides direct ECN access to ARCA, NYSE, NSDQ, but not the IEX. You can take liquidity and not have to pay extra for this like with most brokers. I would think a broker like Lightspeed has a much more professional platform and data feed - I only trade my 401K with Fidelity.
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Hopefully it helps someone but I called IB to inquire and realized when you trade using Webtrader or mobile app the "smart routing" does not mean smart for routing to best exchange.
When I switched over to TWS, I was able to alter the settings where the routing would be to exchange that offered the best rebate and lowest cost. My cost as you see have significantly dropped.
Only thing that sucks is the settings you save is TWS do not carry over the Webtrader or Mobile App.
When I switched over to TWS, I was able to alter the settings where the routing would be to exchange that offered the best rebate and lowest cost. My cost as you see have significantly dropped.
Only thing that sucks is the settings you save is TWS do not carry over the Webtrader or Mobile App.
Robert Morse
Sponsor
We offer $4.50/trade plus maker/taker with a max order size of 10,000 shares. We also offer the LSPT route which only costs $0.0015 for those that aggressively take liquidity. You should give us a try with $30,000 and see the difference.