What is the best deal out there??

esc_trader · Feb 4, 2003

You might want to watch out for Pointdirex, they mark up their ECN fees, resulting in a higher rate than it seems.

Last I checked, Nasdaq (Supermontage), INCA, ISLD, and ARCA charge .003 to take liquidity, and rebate .002 to add.
.004 if the order is routed to another market center.

Make sure you understand all the "hidden" charges.

jorges · Feb 4, 2003

Quote from esc_trader:

You might want to watch out for Pointdirex, they mark up their ECN fees, resulting in a higher rate than it seems.

Last I checked, Nasdaq (Supermontage), INCA, ISLD, and ARCA charge .003 to take liquidity, and rebate .002 to add.
.004 if the order is routed to another market center.

Make sure you understand all the "hidden" charges.

Most brokers will offer better commissions if you have volume. You just have to talk to them directly. In my opinion, I have been successful in getting better commissions by calling up the broker and asking them if they can offer me a price I want. It has worked for me. I am sure it can work for anyone.

Most brokers do have ECN fees and they are not "hidden charges". Unless you choose traditional online brokers who offer web based trading system, than, there are no so-called "hidden charges".

In the case of PointDirex....if you have the volume call them and see if they will give you the price you want. That's the only way to find out...I guess......most brokers don't offer a "max rate" either.
:eek:

hardrock375 · Feb 4, 2003

Quote from jorges:

I suppose you did not pick up on his thinly veiled sarcasm.

Is there an echo in here?

hardrock375 · Feb 4, 2003

Quote from TM_Direct:

If the guy was doing 2 mill shares a month, he would know the best deals out there because the firms would be beating a path to his door....and as far as .006 per share, Please, for 2 mill. per month he would know damn well he could walk into a half dozen offices and make his own deal for much less

That is what I meant when I said "geez...".

jorges · Feb 4, 2003

Quote from hardrock375:

Is there an echo in here?

sounds like it

esc_trader · Feb 5, 2003

Quote from jorges:

Most brokers will offer better commissions if you have volume. You just have to talk to them directly. In my opinion, I have been successful in getting better commissions by calling up the broker and asking them if they can offer me a price I want. It has worked for me. I am sure it can work for anyone.

Most brokers do have ECN fees and they are not "hidden charges". Unless you choose traditional online brokers who offer web based trading system, than, there are no so-called "hidden charges".

In the case of PointDirex....if you have the volume call them and see if they will give you the price you want. That's the only way to find out...I guess......most brokers don't offer a "max rate" either.
:eek:

Not to slam PD, just watch out for marked up ECNs, it is misleading to hype a rate (and a max rate), when you tack on a .005 for the ECN or NYSE. It's not really a max rate then.

trader963 · Feb 5, 2003

Quote from TM_Direct:

If the guy was doing 2 mill shares a month, he would know the best deals out there because the firms would be beating a path to his door....and as far as .006 per share, Please, for 2 mill. per month he would know damn well he could walk into a half dozen offices and make his own deal for much less

Damm right!

jorges · Feb 5, 2003

Quote from esc_trader:

Not to slam PD, just watch out for marked up ECNs, it is misleading to hype a rate (and a max rate), when you tack on a .005 for the ECN or NYSE. It's not really a max rate then.

You may want to read my post one more time.....I thought I was clear on how to get better deals. Call the broker and tell them what you want to pay.....see if you get it.:eek:

TM_Direct · Feb 5, 2003

Girls, Girls your both pretty

There's always a catch anyway...some firms offer super low commissions then smack you with ecns, software charges and even desk fees...Others will charge you a high commission but make it all inclusive and pay for your software.......the idea is to shop. Just be careful with some of these firms and their rates versus software...there's a lot of firms out there who charge next to nothing for trades....but it you lose 2 cents on a slow execution of a 10,000 share block is it worth it? speed and reliability are the keys ......find the best of both and then approach those firms for the best commissions.

gimp570 · Feb 5, 2003

It seems like andover offers the best deal. Does anyone know if it is smarter to go directly to Andover or go through one of there LLC's. Which one can offer the cheapest commissions? Does anyone have any experience with any of the LLC's. I heard about Lynx. I think it is in CA..has anyone dealt with them? Any suggestions or comments??

M