If IB latency is too slow for you, then I would imagine you're going to find TD - or any 'retail' broker - glacial, especially ones with free commissions. And free commission brokers can only make money through PFOF which means your order is going to get thrown into a dark pool for the sharks to eat, something that will (a) slow it down and (b) completely eliminate any saving from free commissions.
Basically your options are:
- Robin hood et al - relatively slow, commission free, overall cost of execution high
- Traditional commission broker - relatively slow, expensive commission, overall cost of execution similar to Robin Hood
- IB - relatively fast, cheap commissions, relatively low cost of execution
- 'Industrial strength' broker - fast, low commissions but an expectation that your trading volume and AUM is very large
I would imagine that if you were trading enough for the latter then you would be on the lowest tier of IB commissions anyway, and probably not complaining. Don't forget that in the extreme you end up paying just exchange fees plus a tiny brokerage commission, so there is a lower limit on total commission.
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