looking for a low commission broker

M

mmt

Can someone recommend a broker that is cheaper than Interactive Brokers for options and stocks.

Per month, I will be trading about 20,000 round trips for options and a few million shares.

I'm targeting $0.001 per stock and $0.2 per option.
 
A few million is not going to get you $0.0001. In this market, you would likely have to do a hundred million shares per month to get a rate like that. Trading-associated costs are increasing across the broad. None of us are immune from inflation and the rates we saw 5-10 years ago are difficult to obtain now. The broker-dealers have a lot of overhead and you have to keep in mind that with internal routing, you have to take into accounts ECNs, speed of network, etc.
 
Thank you to everyone that has posted.

Would something like this be possible given the volume stated above :

$0.002 per stock and $0.25 per option
 
mmt said:
Can someone recommend a broker that is cheaper than Interactive Brokers for options and stocks.

Per month, I will be trading about 20,000 round trips for options and a few million shares.

I'm targeting $0.001 per stock and $0.2 per option.
More...

Are the options equity options? Is your account in the USA?

1245
 
mmt said:
Thank you to everyone that has posted.

Would something like this be possible given the volume stated above :

$0.002 per stock and $0.25 per option
More...

I don't think anyone is going to be able to tell you definitively because the rate will be negotiated. I think Apex is your best bet but I'd also try ITG and SageTrader. I'm assuming you'll want PM...the minimum funding level will vary there as well and/or eliminate clearing partner possibilities.
 
1245 said:
Are the options equity options? Is your account in the USA?

1245
More...

Yes, equity options. My account is not in the USA.

The brokerage firm must allow me to connect to an ISV like ORC, Actant and etc.

I will have a look at the firms that have been recommended.

Thanks
 
mmt said:
Yes, equity options. My account is not in the USA.

The brokerage firm must allow me to connect to an ISV like ORC, Actant and etc.

I will have a look at the firms that have been recommended.

Thanks
More...

Connecting to these platforms is not the issue. Getting PM for foreign accounts is difficult, especially if you are under $5M and want to do this. Very few choices.

1245
 
It looks like Apex only offers trading on futures and options on futures. I am looking to trade stocks and options on stocks.
 
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