M B Trading

[ak15]

Quote from DHOHHI:

No, you don't pay $7.50 per 1000 shares. You pay a penny on the first 500 shares and 1/2 cent thereafter. So the first 1000 is $7.50 and additional 1000 share increments are $5. I believe their commissions are the same as IB except for the first 500 shares. And SEC fees can be offset by MB paying interest on all cash and not excluding the first $10,000.

I was referring to a 1000 share lot since most people trade that size. A round trip will cost you $15 plus SEC fees. IB is cheaper - a flat .005 all inclusive for bundled and their unbundled rates are attractive too depending on your trading volume and style.
For a round trip at IB you pay $10.00 for 1,000 shares all inclusive.
Taking 2,000 shares as an example you pay $25.00 plus SEC fees on a round trip at MB whereas it would cost $20.00 including SEC fees at IB with their bundled rate.
Both places pay interest. I am not sure about the rates but I believe IB's rates are higher.

 

[mktman]

IB pays nothing on first 10K.

Plan C offer 4.95 for active traders.

 

[Daal]

Quote from mktman:

IB pays nothing on first 10K.

yep. this amounts to a disguised fee of $300 after tax for TWS. that piece of shit aint worth $10 a year nevermind $300 plus the $120 a year data fees, mb has none of that

 

[ak15]

Quote from mktman:

IB pays nothing on first 10K.

Plan C offer 4.95 for active traders.

Plan C is not suitable for scalpers or active traders. Here is an excerpt from MB's website which is self-explanatory:

Selecting Plan C will designate access only to the new MBTR order route.
MBTR features all advanced order types offered by MB Trading.
MBTR does not primarily route orders to ECNs, meaning that there is less liquidity available than with the MBTX route. MBTR utilizes specific liquidity pools to avoid traditional routing costs.
MBTR does not actively seek price improvements, although such improvements are possible.
MBTR's execution speed is comparable to that of MBTX.
Self-directed order routes (including ARCA, INET, BRUT, and REDI) are not available with Plan C.
Futures trades, for clients on Plan C, will be routed through MBTR to the CME and CBOT via Globex®, instead of MBTX.

 

[fluttrader]

Quote from Daal:

yep. this amounts to a disguised fee of $300 after tax for TWS. that piece of shit aint worth $10 a year nevermind $300 plus the $120 a year data fees, mb has none of that

IB isn't that cheap taking this into consideration

How would you rate MB for scalping futures ?

 

[vash.amethyste]

IB isn't very high price TOS is higher than IB. MB is good stock or option.
There is genesis securities or directaccesselite.
TOS is good but not cheaper for stock or option because there is the ticket.

 

[Catoosa]

MB Trading is paying 2.843% interest on the entire account overnight cash balance. IB is paying 2.49% for overnight balances of $10000 to $90000 with nothing paid on the first $10000. I would rather scalp in stocks with IB. I also much prefer IB's all in commission when it comes to entering trades into accounting software (much faster to enter the trades into the accounting). IB has a lower interest rate on use of overnight margin when compared to MB Trading.

 

[stock777]

Quote from Daal:

yep. this amounts to a disguised fee of $300 after tax for TWS. that piece of shit aint worth $10 a year nevermind $300 plus the $120 a year data fees, mb has none of that

Does MB include Globex and all the other futures exchanges for free?

 

[4DTrader]

Quote from ak15:


Taking 2,000 shares as an example you pay $25.00 plus SEC fees on a round trip at MB whereas it would cost $20.00 including SEC fees at IB with their bundled rate.
Both places pay interest. I am not sure about the rates but I believe IB's rates are higher.

But if you use Scottrade, you pay $14 plus fees regardless of the number of shares you trade. For example, if you trade 10,000 shares, a round trip at IB costs $100, but only $14 plus fees at Scottrade. Besides, there are no those non-sense data fee, software fee, token fee, check fee, etc. at Scottrade.

 

[jeb9999]

Quote from 4DTrader:

But if you use Scottrade, you pay $14 plus fees regardless of the number of shares you trade. For example, if you trade 10,000 shares, a round trip at IB costs $100, but only $14 plus fees at Scottrade. Besides, there are no those non-sense data fee, software fee, token fee, check fee, etc. at Scottrade.

Ever bother to read Scottrade's SEC Rule 606 Report ? Scottrade sells 100% of its order flow to the third market. I'd rather pay IB the $100 and get decent and timely fills.