Is there a broker cheaper than InteractiveBrokers?

[a_c]

Hi , Is there any broker that is cheaper than InteractiveBrokers with API for automated trading OR what are the options for reducing cost per trade (for stocks trading)? Thanks

 

[traider]

Do more volume, then you get to negotiate rates that will make everyone jealous

 

[guru]

AFAIK IB doesn’t negotiate but Lightspeed is a little cheaper. Lightspeed also acts as an introducing broker and can set you up with IB platform, kinda like Lightsoeed was an affiliate of IB, but you’d end up paying lower fees.
Though IB & Lightspeed fees are already so low that if you don’t make money then you have issues with your strategies, not the broker.

 

[MarkBrown]

rent a seat

i worked for a fund where they paid us to trade.

 

[Robert Morse]

Hi , Is there any broker that is cheaper than InteractiveBrokers with API for automated trading OR what are the options for reducing cost per trade (for stocks trading)? Thanks

What is your average order size? If you choose per trade rate with rebate trading, it can be credits. 4.50/trade up to 10,000 shares. Add liquidity on Nasdaq on 5000 shares is a $10 credit for a net credit of $5.50 before Reg fees.

 

[a_c]

Thanks everyone for your replies.
@Robert Morse: Order size is 1000-15000 shares, mostly under $10. 5-10 trades/day but most of the stocks are NYSE.

 

[Robert Morse]

Then our per trade rate can save a lot.

 

[traider]

Thanks everyone for your replies.
@Robert Morse: Order size is 1000-15000 shares, mostly under $10. 5-10 trades/day but most of the stocks are NYSE.

passive limit or market orders?

 

[eastern_warrior]

Then our per trade rate can save a lot.

Or. why not choose to route with best rebate and get the rebate yourself with IB and deal with someone not selling flow?

 

[Robert Morse]

Or. why not choose to route with best rebate and get the rebate yourself with IB and deal with someone not selling flow?

1mm shares at the blended IB rate: $2450 (I can also offer $0.0025/share with that volume)
1mm shares at $4.50/trade, average order size 5000 shares, cost at LS $900
Savings of $1550/month. That is $18,600 per year. On an account with $100,000, that saves 18.6% on your AUM.
You get the same rebate on our routes as IB.
https://www.lightspeed.com/pricing/routing-fees/