Looking to switch from Interactive Brokers to a new broker dealer
- Thread starter bramnil
- Start date
I never said they were introducing to a US broker dealer. They are a LICENSED broker dealer and they don't charge on my P/L, that's illegal I think. the commissions and everything you can see on their website (http://alarictrader.com/) or you can call/email them. also, they are regulated by FSA thus they have nothing to do with SEC cuz they're regulated in Europe.
I have a feeling you really want me to stay with IB
but again, I need leverage and better/more clear routing.Thanks,
Bram.
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So?
I contacted both, EXANTE didn't want to provide the leverage and when I asked about routing, they didn't even know what to answer.... be it Russians, Bulgarians or any other nationality, I need leverage, and rebates on adding/taking liquidity.
Thanks,
Bram.
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Sponsor
Your comments regarding commissions and routing are incorrect. Fair enough if you want to seek more leverage elsewhere but do get your facts straight if posting.
1. If you choose tiered ("cost plus") pricing, you receive exchange rebates.
2. You state "IB rout[e]s my order to exchanges where they make the most out of" but you omit that for the fixed fee of 1/2 penny a share all exchange fees and rebates are included. More importantly, you leave out IBSmart provides better executions and price improvements than the industry (independently audited). First and foremost obtaining the best price possible for clients is the aim of IBSmart routing.
Furthermore, take a look at the myriad of algos available. You even have the option for IBSmart to look for the best rebate.
https://www.interactivebrokers.com.hk/en/index.php?f=4985
and I quote:
For stocks, clients with the Cost Plus pricing structure can elect to have their non-marketable orders routed to:
- The exchange with the highest rebate.
- The listing exchange on the symbol.
- The highest volume exchange that has a rebate for adding liquidity.
- The highest volume exchange that charges the lowest fee for taking liquidity.
IMO you will need a prop firm to meet your criteria.
In regards to stocks, i'm not sure a prop firm is able to provide the same access to inventory and price improvements. I've thought about switching from IB to prop for the leverage alone, but concerned it might just end up just being a wolf in sheep's clothing
-Short stock locates..yes they can
-price improvements? Most traders look for liquidity or to receive rebates. That sub penny price improvement is meaningless.
What about execution? I'm assuming most prop routing doesn't even compare to IB. I don't mind paying a little more, as long as I don't miss any trades. I don't scalp