What is the best direct access software and broker for experienced traders?
- Thread starter tm689
- Start date
Robert Morse
Sponsor
US Listed Equities?
On paper: Interactive Brokers
In reality: ThinkorSwim by TD due to the various hidden fees by IB
Good luck!
Robert Morse
Sponsor
I'm no shill but lightspeed is good.
Or
In most cases, it costs me less than $3 to trade 1000 shares with IB.
Lightspeed is good.
A decent broker offering Takion software would also be comparable.
Both are better in execution and fee structure than IB.
Or
In most cases, it costs me less than $3 to trade 1000 shares with IB.
Lightspeed is good.
A decent broker offering Takion software would also be comparable.
Both are better in execution and fee structure than IB.
TD Ameritrade which is the broker that offers TOS would offer DMA, wouldn't it?
HOW do you get charged less than $3 to trade 1000 shares? My commission is at least $10 and up.
Options commission is even worse and I forgot to mention IB is NOT the lowest commission broker on Options. There are brokers that charge WAY less commissions on Options.
Robert Morse
Sponsor
With Lightspeed, if you pay our base rate of $4.50/trade or $0.0045/share and you trade 1000 shares, the commissions is $4.50. If you add liquidity on NASDAQ, you get paid $0.002 per share or $2.00/1000. That would cost you $2.50 for the 1000 shares not including the regulatory fees. The best case would be with the per trade rate and 10,000 shares and adding liquidity, $4.50 commissions and a rebate of $20. You would get paid $15.50 not including the regulatory fees.
Bob
Are you available in Canada? If not, we are stuck with IB or TD if we are tired of the hidden fees.
Robert Morse
Sponsor
No sir. Not registered in Canada.