is my commission fair?

Fernandinho · Jul 20, 2012

been trading a year now....i trade appx 15-25k shs per day...is $5.5 per 1k standard or can i do better?

Fernandinho · Jul 20, 2012

sorry .... i need to amend.... it's actually .04/1000........... the other fees are ecn and clearing......so all in was ..055

WhiteOut56 · Jul 20, 2012

Ah its okay

Traveler · Jul 21, 2012

You'd be closer to .003 or less at IB if you mostly add liquidity.

1245 · Jul 21, 2012

Yes, it's a good rate for DMA.

ksmetana · Jul 21, 2012

anything over $4 per 1000 is a ripoff. Aim for $3 though

1245 · Jul 21, 2012

Quote from ksmetana:

anything over $4 per 1000 is a ripoff. Aim for $3 though

His volume is very low for volume discounts.

Traveler · Jul 21, 2012

About the same as IB's blended rates. High if you always add liquidity.

1245 · Jul 21, 2012

Quote from Traveler:

About the same as IB's blended rates. High if you always add liquidity.

Since any DMA route would include rebates and fees for adding and taking liquidity, the base rate is all that's important.

Rocco11 · Jul 23, 2012

You can definitely do better on that commission. Just shop around, but have trading sheets available. Must be able to prove volume. 25k a day should help you get some price changes, but anything under that and you are just average so no reason for a firm to give you a killer deal imo. I just switched firms because I do 50-100k a day and got a great deal. Very happy. If interested, pm me and I will give you my the info for the broker who gave me my deal. Cheers