sorry.....I didn't get the memo that told me I was obligated to tell you where my brokerage account is located..
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Leaving IB - where to go??
- Thread starter PBateman7
- Start date
sorry.....I didn't get the memo that told me I was obligated to tell you where my brokerage account is located..
Quote from rallymode:
There really arent any alternatives when it comes to equities. As shitty as IB is when it comes to solving issues, it's the best all around retail platform for equities if you are low 6 digits. [/B]
I'm having a similar issue with the OP and looking for an alternative equity broker. rallymode, does the best choice of platform (for retail, not institution) depend on whether or not he's a 5 or 6 or 7 digits? Also, I am wondering why many here don't like Scwab and Ameritrade. I understand that trades may be picked off internally. But with their daily average revenue trades of around 400,000, in the same range as IB, doesn't that mean they are doing something right? You're a profitable trader, from what I saw in some Trader P/L posts. May I ask what you're trading and who you're trading with? Thanks.
Quote from PBateman7:
I am more of an intraday trader. i dont usually hold overnights. TD at 8 bucks a trade isnt going to cut it. i need a per share pricing structure. i do about 2 million a month in volume. cant make $$ at a TD on a per trade rate like that. Not the way i trade.
Sounds like you're scalping. For low priced stocks, I would have thought that $8 would be fine. For high priced stocks, probably not. Can't you negotiate for a better rate with your volume? I am interested in your opinion of what the right pricing structure should be? (0.002 per share? 0.001? Or $6 flat? $7 flat? etc.) I can't add any value to your search, but I hope you find the right fit for you. Let me know how it turns out if you don't mind.
PBateman7, have you checked out Genesis Securities?
Quote from loogling:
Sounds like you're scalping. For low priced stocks, I would have thought that $8 would be fine. For high priced stocks, probably not. Can't you negotiate for a better rate with your volume? I am interested in your opinion of what the right pricing structure should be? (0.002 per share? 0.001? Or $6 flat? $7 flat? etc.) I can't add any value to your search, but I hope you find the right fit for you. Let me know how it turns out if you don't mind.
yes, i have a pretty good rate. but $8 wont do. if you trade at 1000 share clips you cant be paying $8 a trade. i prefer to route my own orders, so i pay market center fees when im not adding liquidity but when i am i take the rebate back.
im not sure where i will end up but im going to keep the thread going and ill let you know what happens. i am going to check out genesis as well, i saw someone mention it. I have no interest in using sterling though and see that a few places provide it such as Victor Securities who posted earlier. i didnt really like MB and am going to look at lightspeed and trade station this week.
Quote from oldtime:
options12, now I am beginning to have my doubts about you and all your "Is cash at IB insured" crap
how's that for a drive thru?
screw me once shame on me
Glad I'm not alone. I routinely monitor ET to keep up on things and I rarely see a posting from options12 that isn't critical of IB. I can't imagine anyone having that much free time or incentive to act this way unless they are a competitor, which is what I've concluded. The kicker was a recent posting from an IB customer regarding liquidations in an IRA account where he referenced a 7 year old thread of questionable relevance.
I see you met oldtime the louis carruthers of the message board.
Look man, you have to call these places directly. dont ever go by what the website tells you. I call that OPP other peoples prices, which I am definitely not down with. I dont know how big your wad is but if you can afford it and have a little over 100k check out lime. they are owned by wedbush. the most inexpensive clearing house and well capitalised for safety.
If you have less money you can go to great point capital, they offer retail accounts and the big dog takion platform. I myself have created my own platform, and I would have to say takion is a fine work of art. It is by far the fastest feed for equities I have seen. I have used all platforms. DAS is like the fisher price of the industry. It does get the job done but it really is the worst in class, well maybe its brother orbis is which is a variation of it, from the same source.
If you are a momentum scalper, get your hands on takion. the stock sorter is unreal. I am creating an answer to takion because i just havent found something else i want to strive to be better than.
Look man, you have to call these places directly. dont ever go by what the website tells you. I call that OPP other peoples prices, which I am definitely not down with. I dont know how big your wad is but if you can afford it and have a little over 100k check out lime. they are owned by wedbush. the most inexpensive clearing house and well capitalised for safety.
If you have less money you can go to great point capital, they offer retail accounts and the big dog takion platform. I myself have created my own platform, and I would have to say takion is a fine work of art. It is by far the fastest feed for equities I have seen. I have used all platforms. DAS is like the fisher price of the industry. It does get the job done but it really is the worst in class, well maybe its brother orbis is which is a variation of it, from the same source.
If you are a momentum scalper, get your hands on takion. the stock sorter is unreal. I am creating an answer to takion because i just havent found something else i want to strive to be better than.