Per share brokers who pay for adding liquidity
- Thread starter bungrider
- Start date
Daytradz.com does ( I use them) and tradescapeonline.com does as well. I just switched from Datek and it appears that the move is a good one. IB rates are so low though that you may not save any money unless you are posting over 1000 shares at a time. With the more shares per order the better ( for getting a lower net commisison rate)
Daytradz.com rebates for Island .0011 and tradescapeonline.com gives .0015 for the MRXT ?? I believe.
I went with Daytradz.com due to the personal service. they use realtick ( I don't like, but I guess most do) and while that appears to be more feature rich for ARCH ECN it still works in "basic" mode for posting on Island.
Good Luck
Daytradz.com rebates for Island .0011 and tradescapeonline.com gives .0015 for the MRXT ?? I believe.
I went with Daytradz.com due to the personal service. they use realtick ( I don't like, but I guess most do) and while that appears to be more feature rich for ARCH ECN it still works in "basic" mode for posting on Island.
Good Luck
Sure, just go to the ECN fees area of the fees and commissions. You may just want to give them a call as well. I have been using them for about a month and my online statements show the rebates lowering the commisison.
Its a small shop so if you like talking to the same person (I do) and having them know who you are then this place may be for you.
My only complaint is that they use realtick for entry. Since most people like it and some even pay extra to get it that may not be an issue.
Its a small shop so if you like talking to the same person (I do) and having them know who you are then this place may be for you.
My only complaint is that they use realtick for entry. Since most people like it and some even pay extra to get it that may not be an issue.
What would you rather use for entry? Or what did you used to use?
Also, a per share rebate for adding liquidity is not quite the same as a per share commission broker which is what the original poster was looking for. Daytradz is a per ticket broker who happens to pass on liquidity rebates.
In all fairness everytime I call realtick they answer the phone and are helpful.
I used Datek and the cost for the "software" is free. Now I am paying $250 a month. I also use Quote.com and Stock watch Pro for screening.
To answer your question.
1. I don't like how often (at least for me) some of the level II gets messed up. I know that they claim its the ECNs fault and maybe it is but every time it appears to be working fine for quote.com
2. I dont like how my balance needs to be multiplied by 4 to give the true balance.
3. I dont like the charting
4. I dont like that I cant trust putting in an order at home and then going to work and changing the order.
5. I don't like that all the features seem to be ARCA related and I trade on Island ( post for the rebate)
6. I don't like having to cut off my post at a penny instead of shaving off a little. i.e. ask price of 25.199 instead of 25.20
7. I don't like the times I lost money due to not being able to close out a posistion or conditional order due to the damm thing screwing up
Mostly I just dont like paying for an order entry program. While that is my brokers doing it does not mean that I have to like it.
I did like the rapid entry with datek and got good at it. Perhaps in time I will get good at realtick or even more likely flip over to something else. also I should state that I have only used realtick for about a month. Maybe I just have not given it a full chance????
I used Datek and the cost for the "software" is free. Now I am paying $250 a month. I also use Quote.com and Stock watch Pro for screening.
To answer your question.
1. I don't like how often (at least for me) some of the level II gets messed up. I know that they claim its the ECNs fault and maybe it is but every time it appears to be working fine for quote.com
2. I dont like how my balance needs to be multiplied by 4 to give the true balance.
3. I dont like the charting
4. I dont like that I cant trust putting in an order at home and then going to work and changing the order.
5. I don't like that all the features seem to be ARCA related and I trade on Island ( post for the rebate)
6. I don't like having to cut off my post at a penny instead of shaving off a little. i.e. ask price of 25.199 instead of 25.20
7. I don't like the times I lost money due to not being able to close out a posistion or conditional order due to the damm thing screwing up
Mostly I just dont like paying for an order entry program. While that is my brokers doing it does not mean that I have to like it.
I did like the rapid entry with datek and got good at it. Perhaps in time I will get good at realtick or even more likely flip over to something else. also I should state that I have only used realtick for about a month. Maybe I just have not given it a full chance????