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low commission broker???
- Thread starter Lt. Dan
- Start date
Since you are having a memory lapse let me refresh it; In your post in which you were talking exclusively about IB and MBT you wroteQuote from jimrockford:
You claim that I stated that IB's order execution quality is better than MBT's. Your statement was false. I never made such a claim. I clearly stated that I did not know about MBT's execution quality, and that I would be surprised if it approached IB's.
"IB's superiority in the areas of commissions and order execution quality"
Now once again how did you determine that IB is superior to MBT being that you have also admitted you are not a customer of MBT?
You made this "general warning" in a post that was a directly reply to my post in which you quoted my text. According to the normally accepted conventions of posting, you were in fact addressing me.You claim that I accused you of promoting MBT. Again your statement was false. I never made such an accusation about you. I gave only a general warning that readers should beware the general problem of misinformation from promoters on EliteTrader, but I never specifically accused you of being a promoter.
Nice word parsing. I said your statement about IB's order execution quality comparison had no basis, not that you are not able to make any comparison between IB and MBT whatsoever. While you may attempt to backpedal now and play semantic games your previous intent is clear.You claim that my comparisons have no basis. Again your claim is false. I checked the MBT website and discovered that you omitted MBT's SEC fees from your comparison of MBT commissions to IB commissions. This proves that I did have a basis for my comparison.
Show me where I claimed that he would be affected by it. I simply mentioned that he should be aware of it since I (unlike you) do not know his trading habits. Since you're so big on keeping score, you just "lied" as you enjoy accusing me of doing.You claim that the person who started this thread is a small trader who would be affected by IB's 10$ per month minimum fee
You have no idea how active the original poster is. You seem to be all about supplying information and choices but the major omission of IB monthly fees simply slipped your mind? Funny that.and that it was "fantastic" for me to omit the $10/month fee from my comparison. Once again, your statement is false.
There is no proof in the original post that would back your assertion unless you personally know what "a lot" means to the OP. Its funny that you didn't assume that the OP would benefit from good customer service that you admit IB does not have. This thread is answering the OP question, right? Not just a soapbox for you to proclaim wide and far your love for IB.So this proves that since he does "a lot of daytrading", he will generate at least $30 per month in commissions, so that IB will not charge him the $10 per month minimum.
Again, a blatantly false statement on your part. I never claimed this.This disproves your claim that the $10 minimum would apply to this person.
LOL, you sure take yourself quite seriously man. My information is "totally false" because I failed to mention SEC fees?I think I have done a very solid job of proving that your information is totally false. I think I have also convinced objective persons that your opinions on this matter have even less value than your incorrect facts.
The OP asked for low-cost brokers and I threw out one. I hope IB sends you a gift for all your gracious promotion.
For those that choose to sweep their funds to a MM fund with the clearing firm (Penson) then the rate for December was around 3.2%. Note I said "around", please don't call me a liar again if it turns out it was only 3.19%. And yes they pay that on the full amount, not just the amount above $10k - very nice for the small investor.Quote from jimrockford:
MB's website states that it pays 1.10%, not 3%. See http://www.mbtrading.com/intRates.asp
Quote from jimrockford:
MB's website states that it pays 1.10%, not 3%. See http://www.mbtrading.com/intRates.asp
I have my statement in hand. November 30, 2005. It's the Scudder MM Portfolio. Entry 11/30/05 MoneyFund 2.999% 11/01 - 11/30.
Attachments
Winter,
your latest response to me, posted at 2:33 pm est, once again attributes statements to me which I did not make, and once again contains lots of false information, just like your previous posts in this thread.
I don't think it would be a worthwhile use of my time to continue making point-by-point rebuttals to your constant stream of false information. I think everybody can see that your assertions are not to be trusted. I will therefore leave you with just a general assertion that your latest response to me is also filled with false information.
your latest response to me, posted at 2:33 pm est, once again attributes statements to me which I did not make, and once again contains lots of false information, just like your previous posts in this thread.
I don't think it would be a worthwhile use of my time to continue making point-by-point rebuttals to your constant stream of false information. I think everybody can see that your assertions are not to be trusted. I will therefore leave you with just a general assertion that your latest response to me is also filled with false information.
Quote from winter:
For those that choose to sweep their funds to a MM fund with the clearing firm (Penson) then the rate for December was around 3.2%. Note I said "around", please don't call me a liar again if it turns out it was only 3.19%. And yes they pay that on the full amount, not just the amount above $10k - very nice for the small investor.
That was my point from the start but Rockford seemed to not believe what we post. The 3.2% is $320 for a year. Enough to pay SEC fees on over $10.4 million in trades.
For Rockford's benefit:
(1) 3.2% x 10,000 = $320.00
(2) SEC fee = 0.0000307
(3) $320/0.0000307 = 10,423,452.
The MB Trading website says it pays only 1.10%, yet others are posting that it pays much more. Perhaps the website was wrong?
Whatever you say chief, but one question before you go, are you really this much of a jerk in real-life or are you just having a bad day?Quote from jimrockford:
your latest response to me, posted at 2:33 pm est, once again attributes statements to me which I did not make, and once again contains lots of false information, just as your previous posts in this thread.
I don't think it would be a worthwhile use of my time to continue making point-by-point rebuttals to your constant stream of false information. I think everybody can see that your assertions are not to be trusted. I will therefore leave you with just a general assertion that your latest response to me is also filled with false information.