Which broker for day trading stocks?

M

moogs

I'm sure this question has been asked thousands of times. I've been paper trading stocks that are priced from $20-100 usually trading quantities of 1000-2000 shares. I'm just curious if IB would still be the preferred broker for my situation. I really dislike TWS.

I was thinking about TD Ameritrade simply because I really like their platform.

Just looking for some suggestions. I'm pretty new to all this and still doing a lot of research. Thanks in advance!
 
The cost difference is not great, but TD charges $9.99 per trade. At the fixed rate with IB and no ECN fees, 2000 shares will cost the same. You should use the platform that makes you the most comfortable so it does not effect your trading. Commission are not everything. If you were trading a lot of volume it would be more material. Also, smaller lots at TD would cost you a lot more than IB.
 
rmorse said:
The cost difference is not great, but TD charges $9.99 per trade. At the fixed rate with IB and no ECN fees, 2000 shares will cost the same. You should use the platform that makes you the most comfortable so it does not effect your trading. Commission are not everything. If you were trading a lot of volume it would be more material. Also, smaller lots at TD would cost you a lot more than IB.
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That's what I figured. Just wanted to be sure I wasn't missing something obvious. Thanks for the fast replies!

I was thinking about going with eSignal with IB just to avoid TWS but the cost is probably going to be a wash compared with TD Ameritrade and thinkorswim. I'll give both platforms a try and see which I like best.
 
I don't like many retail brokers or their platforms. Mostly because I care more about order entry than all the research and analytics. TD's website, platform and customer service are very good IMO for a retail relationship.
 
rmorse said:
I don't like many retail brokers or their platforms. Mostly because I care more about order entry than all the research and analytics. TD's website, platform and customer service are very good IMO for a retail relationship.
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Do you mind sharing what you yourself use or would prefer for my situation, broker and platform?
 
I'm not an equity day trader. I'm a former option market maker. When I do trades for myself, some are options on futures (at INTL FC Stone) and some are equity options with some stock at TD Ameritrade in my Roth IRA. If I was more active and it was not in my Roth IRA, I would use Apex Clearing for a PM account and Silexx OEMS for a trading platform. That is what we offer our clients. We have other platforms, but I like Silexx OEMS for options. My trading is currently very small. I have to focus on work not trading.

http://www.silexx.com/

As for you, sounds like TD is fine for now. This is not a big decision as you can change if you are not happy.

Bob
 
moogs said:
That's what I figured. Just wanted to be sure I wasn't missing something obvious. Thanks for the fast replies!

I was thinking about going with eSignal with IB just to avoid TWS but the cost is probably going to be a wash compared with TD Ameritrade and thinkorswim. I'll give both platforms a try and see which I like best.
More...
ToS charges $6 per trade.
 
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