Do commissions get any cheaper than IB?

hoodooman · Oct 13, 2003

Having done it before, I believe that I could make a profit rapidly scalping with a brokerage fee of 1/2 cent per share or less. I have made anywhere from between 50 and 200 trades per day. But not anymore. With 1 cent per share broker fee like IB charges, I don't even make 5 trades a day.

One would think brokers would understand that when the fees go up, the number of trades go down.

regards
hoodoo

Nana Trader · Oct 13, 2003

Quote from hoodooman:

Having done it before, I believe that I could make a profit rapidly scalping with a brokerage fee of 1/2 cent per share or less. I have made anywhere from between 50 and 200 trades per day. But not anymore. With 1 cent per share broker fee like IB charges, I don't even make 5 trades a day.

One would think brokers would understand that when the fees go up, the number of trades go down.

regards
hoodoo

Many ET traders are like herds following other's path because
they hear IB IB IB IB IB IB IB IB IB IB Everyday.

If it were because of cheap commision, belive me IB is not the
cheapest out there. But considering many features and 3rd party software support and having Universal account is what makes
IB overall best broker.

But IB is not an option for Scalpers, what i Belive

Trajan · Oct 13, 2003

Quote from ChartingMarkets:

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.

Ever trade options through them?

stock777 · Oct 13, 2003

Quote from hoodooman:

Having done it before, I believe that I could make a profit rapidly scalping with a brokerage fee of 1/2 cent per share or less. I have made anywhere from between 50 and 200 trades per day. But not anymore. With 1 cent per share broker fee like IB charges, I don't even make 5 trades a day.

One would think brokers would understand that when the fees go up, the number of trades go down.

regards
hoodoo

Well, I sympathise, but the 1 cent is for the first 500, the rest is 1/2 cents, so 2000 shares approaches 1/2 cent. They also eat the SEC fee, which the others don't. So if you're down from 200 trades to 5, that ain't the reason.

Nana Trader · Oct 13, 2003

Quote from stock777:

Well, I sympathise, but the 1 cent is for the first 500, the rest is 1/2 cents, so 2000 shares approaches 1/2 cent. They also eat the SEC fee, which the others don't. So if you're down from 200 trades to 5, that ain't the reason.

In some case i don't agree, especially if you trading very liquid
stocks or ETFs.
Most guys scalp with volume of 1000 shares block per
trade and andscale in and out 500 or 1000 more if opputunity rise.

Now with above volume and instruments you can place
you orders trough Island trough POINTDIREX , which
cost you 10$ to close you trade, and with IB it costs
you 15$ to close.

matt5555 · Oct 13, 2003

Quote from Trajan:

Ever trade options through them?

I have had a myTrack account for 4 years. They are the same company (Track Data Securties). Options fills are great. They will route to any of the 5 markets. I have only used limit orders, I can not speak of market orders. Orders (at least through myTrack) are routed through ABNO but you choose the market in which it is sent to. Trading at the inside market gets me instant fills.

50 cent · Oct 14, 2003

Tradestation has significantly reduced rates so to compete with IB... IB should do something to keep the competitive edge!

agin1415 · Oct 15, 2003

There are a lot of smaller firms that work through large clearing firms that will cut individual retail traders a deal based on the volume you do.

50 cent · Oct 15, 2003

Quote from agin1415:

There are a lot of smaller firms that work through large clearing firms that will cut individual retail traders a deal based on the volume you do.

You can definitely find commissions by far cheaper than IB if you trade massive volume. But for the piker (c'est moi), IB seems to provide the cheapest commissions as far as I know..

Cheers
50

EMini-Player · Oct 15, 2003

Quote from 50 cent:

You can definitely find commissions by far cheaper than IB if you trade massive volume. But for the piker (c'est moi), IB seems to provide the cheapest commissions as far as I know..

Cheers
50

LOL...true. Us 1-lotters have to stick with IB

-Fast