It is, although for Bulletin Board stocks the routing choices may be limited to NSDQ (INET) or ARCA. When I wanted to buy some Refco stock the day it dropped 99%, my Ameritrade order sat there while trades below my bid got printed. Finally had to go to Schwab to get filled.Quote from Trader_Herry:
But this is not a direct-access firm.
IB commissions for low priced stocks
- Thread starter Bitstream
- Start date
Quote from Trader_Herry:
Plan C is flat rates up to 4000 shares.
After that, it is not flat rates ($0.01 per shares).
Anyway I just point out some direct-access brokers do offer flat-rates. Sure they have additional conditions or terms.
If you read the details in the "Read More..." page, you'll find that this is not what most would not consider to be direct-access. One might want to investigate exactly what the "MBTR" route is, and whether your order is being sold to a MM.
(Edit) Note that I'm not bashing or even faulting MB here (unlike the rhetoric that usually enters into these discussions). They clearly describe what they are doing, and anyone that takes this business seriously realizes that people have to make a profit to stay in business.
Plan C is flat rates up to 4000 shares.
After that, it is not flat rates ($0.01 per shares).
Anyway I just point out some direct-access brokers do offer flat-rates. Sure they have additional conditions or terms.
If you read the details in the "Read More..." page, you'll find that this is not what most would not consider to be direct-access. One might want to investigate exactly what the "MBTR" route is, and whether your order is being sold to a MM.
(Edit) Note that I'm not bashing or even faulting MB here (unlike the rhetoric that usually enters into these discussions). They clearly describe what they are doing, and anyone that takes this business seriously realizes that people have to make a profit to stay in business.
ok, today i got in a $2 stock to see how much i had to pay in commish and was pretty much astonished to find out i paid $16.88 for a 2000shares trade...man that's seriously DEAR. 2ticks aint enough to breakeven; u still down a few dollars at the 3rd tick, and at the 4th tick u begin to make some money. this is absurd: it's a 2% move just to breakeven. are u ib guys goin' to give us a chance to trade this stuff or not?
bundled and its not question of math not addin' up...these are the real costs: i got in at 2.11 and got out at 2.11 after 1tick [theoretical b/e]. r/t costed me $16.88. its just not feasable to trade 'em with this structure...and u wont make money with 1tick beacuse there's a spread.
ok, sorry about that; got confused by the pnl prices on booktrader. still, if the stock is quoted at 2.10/2.11 u get in at 2.11 kk? the stock gotta move 1tick otherwise u have to get out at 1tick loss due to the spread, after that u gotta pay commisions so that's 2ticks..of course at the second tick u begin to make some money but u do understand the costs cover almost the whole tick value...the 3th tick is where u begin to make money based on the shares u bot. on a $2 stock u need the stock to move 1% to cover costs. to me is not reasonable to say u can trade this stuff with acceptable r/r.
def, what it boils down to is that if u lower costs for these stocks u'd attract much more biz, cuz frankly there's no way am gonna trade em if they stay as they are and i think most everyone, except prolly gamblers or insiders wouldnt either. i mean, considerin' the min tick, who on his right mind would take the risk of buildin' a big position when they move the same as regular stocks .. i think u got everythin' to gain and nothin' to lose.