Cyber dual ticket charges.
- Thread starter rtharp
- Start date
#1 reason I'm gonna switch brokers to a per share one.
Baron, It means that for a 2 minute period, you can do as many trades in that stock in the same direction for 1 ticket price. So you can buy 2k csco, buy another 2k up .02. then sell them all up a dime, and then buy another 2k when it retraces a nickle, and sell that again. If it's all done in under 2 mins, it's all for just 2 tickets. 1 buy, and one sell, even though you technically did 2 roundtrip trades, and actually 3 buys.
The time frame used to be 5 minutes. Which wasn't enough. Now it's 2 minutes?
Cyber is nuts!
I cancelled my account a few days back. Had been thinking about it for a while. High prices, poor reliability, and now higher prices again ...
Cyber is making a killing on people that aren't paying attention to their own bottom lines.
Foruntately for the rest of us there are a number of much more affordable (and reliable) brokers to choose from.
Paying $50K to $150K per year on commissions is just absurd. What exactly could a broker possibly do to deserve that?
Richard
Cyber is nuts!
I cancelled my account a few days back. Had been thinking about it for a while. High prices, poor reliability, and now higher prices again ...
Cyber is making a killing on people that aren't paying attention to their own bottom lines.
Foruntately for the rest of us there are a number of much more affordable (and reliable) brokers to choose from.
Paying $50K to $150K per year on commissions is just absurd. What exactly could a broker possibly do to deserve that?
Richard
i thought cyber use to charge the 5min rule on your original order. meaning, if you put in a buy, for say 1000 MSFT, get hit on 200 and had to go up at that time 1/16th for the other 800 and got filled on it all within the 5min of the original order, you were charged one ticket.????? NO???
mamt8r,
That's how it was supposed to be, but I don't think Cyber's back-office could calculate it correctly.
BTW-During the online new President interview he said that something like <3% of trades fall into the 2-5 min partial fill range, so they don't feel bad about lowering the rule from 5 mins to 2 mins. 3% seems a bit low to me.
That's how it was supposed to be, but I don't think Cyber's back-office could calculate it correctly.
BTW-During the online new President interview he said that something like <3% of trades fall into the 2-5 min partial fill range, so they don't feel bad about lowering the rule from 5 mins to 2 mins. 3% seems a bit low to me.