Do commissions get any cheaper than IB?

D

deadreader

1 cent a share for the first 500
1/2 cent a share for 500+ shares

Does it get any cheaper than this anywhere else in the world?

Let's say I start doing about 300,000 shares a month, IB doesn't offer ECN rebates, but they don't charge for ECNs either ...

Basically what I'm asking is, are commissions, after all is said and done, cheaper anywhere else on an account that does 300,000 shares a month?
 
You could try Tracktrade I am in no way affiliated with them but I have been using their platform as a 3rd platform besides my realtick. I use them for daytrading etc. Thats where the commissions really add up during the month.

Ok so here is : its half a penny per share no matter what size shape or form you do. The trick is the account minim is 30K.
The platform is very fast and efficient with quick fills and I am very choosy when it comes to platforms. This one is growing on me fast. There charts are garbage though and thats why I basically utilized them as an order entry system for daytrades while all the time using Realtick. Good Luck.

I cant post the URL here because tracktrade is not a sponsor but if you want the link to them just put a www. in front of their name and a .com at the end.
 
Quote from alterego:

Looks like they make money selling the order flow. What have the fills been like?
More...

Yes thats the trick they sell the order flow...I have been waiting about 10 mins per fill and it always at the market and I can only direct to the tracktrade screw me route. However the commisions are only half a penny per share.

Seriously they dont sell order flow you can route to any ECN or market maker you want its real direct access. The fills are as fast as any I have seen and easy to cancel and change without locks up if need be.

Drawbacks though...charts stink and you will have to have 30K to open the accoutn min. The account min will prevent many who use IB to cross over.
 
Quote from ChartingMarkets:



Yes thats the trick they sell the order flow...I have been waiting about 10 mins per fill and it always at the market and I can only direct to the tracktrade screw me route. However the commisions are only half a penny per share.

Seriously they dont sell order flow you can route to any ECN or market maker you want its real direct access. The fills are as fast as any I have seen and easy to cancel and change without locks up if need be.
More...

so do they or don't they sell the order flow?? WTF?

Quote from ChartingMarkets:

...The platform is very fast and efficient with quick fills and I am very choosy when it comes to platforms...
More...

10mins per fill is LIGHTNING FAST, especially for 1925. LMAO :D
 
According to their SEC forms, they sell the flow:

Payment for order flow information:
Track Data Securities Corp. maintains the following payment for order flow arrangements:
NITE - standard rebate of 25% of spread for Nasdaq NMS and SmallCap securities orders of 2,000 shares or more
with a maximum of $0.01 per share.
HRZG - standard rebate of 25% of spread for Nasdaq NMS (or 5% of spread for Nasdaq SmallCap) securities orders
of 2,000 shares or more with a maximum of $0.01 per share.
TRAC - standard rebate of $0.0023 per share
DATA - standard rebate of $0.001 per share
 

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I'm going to top this and see if anyone else has comments as to where commissions (after all is said and done) are cheapest, without sacrificing the reliability/executions that I get with IB, of course...
 
Like I said you dont have to route to HRZG or TRAC...just route to ARCA Isld inca or sweep its fine. My executions have been quick and dead on. As fast as my Real Tick broker. Thats my analysis of the software so far. I have hot keys set up for all the ecns and for sweeping. Had no problems as of yet. I think each user has to try it for themselves good luck.
 
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