Is IB the cheapest broker for larger investors trading frequently?

[tonyf]

US Stocks and warrants commission per share is $ 0.002 at IB (2nd tier, where most of the larger day/swing traders would fall).

Everything else on the side (speed, execution, customer service, etc...) can you think of anyone else offering DMA for $0.002 or less per share?

Tony

Pricing structure: https://www.interactivebrokers.com/en/index.php?f=1590&p=stocks2

 

[Robert Morse]

We can. We can also offer Per Trade rate of $4.50/Trade, max order size of 10,000 shares. If your average order size is more than 2250 shares, that is better than $0.002/share. We can also price active trades at one rate and you do not have to earn that rate each month by starting at a higher rate for the 1st 300K.

https://www.lightspeed.com/pricing/commission/

 

[tonyf]

We can. We can also offer Per Trade rate of $4.50/Trade, max order size of 10,000 shares. If your average order size is more than 2250 shares, that is better than $0.002/share. We can also price active trades at one rate and you do not have to earn that rate each month by starting at a higher rate for the 1st 300K.

https://www.lightspeed.com/pricing/commission/

Thanks but it says 0.0035 for your 2nd tier between 250,000 and 1m shares. Am I missing something here?

And am not sure about other day traders but I am not a fan of pricing per trade as it turns out to be less economical in the long run.

 

[Robert Morse]

I said our per trade rate is better if you trade more than 2250 shares.

If you trade more than 1mm shares a month, our rate is $0.0025/share, min $0.25. That matches the blended rate at IB for 1mm shares and our min is lower.

 

[tonyf]

I said our per trade rate is better if you trade more than 2250 shares.

If you trade more than 1mm shares a month, our rate is $0.0025/share, min $0.25. That matches the blended rate at IB for 1mm shares and our min is lower.

what about partial fills?

 

[Robert Morse]

what about partial fills?

You don't get charged per fill- per order.

Buy 5000 GDX 22.35 $4.50, even if you get filled in 100 shares lots, as long as you do not cancel/replace to a new price-that is a new order and that would be another $4.50.

We offer both-but can't choose on not each trade. You have to choose what plan you want.

 

[tonyf]

is a GTC order reset at the end of the day or does it carry to the next day?

Buy 5000 GDX 22.35 $4.50, get filled in 100 shares lots on day 1 and 100 on day 2?

 

[tonyf]

and would you offer a flat $0.00045 per share instead?

 

[Robert Morse]

is a GTC order reset at the end of the day or does it carry to the next day?

Buy 5000 GDX 22.35 $4.50, get filled in 100 shares lots on day 1 and 100 on day 2?

Good question. I'm not sure. I have never been asked before.

 

[Robert Morse]

and would you offer a flat $0.00045 per share instead?

$0.45/1000-no. You have an extra "0". Our clients can start with a promotion or negotiate a rate based on past volume. Happy to talk to anyone directly. We get a lot of X-IB and TD client move over. It is not just about rates. No automated liquidation, a trading desk you can call or email and a personal rep.