Hello everyone, Anyone trading with this broker TradeZero ? they are located in Bahamas. They claim no fees for trading using limit orders, 0,005$ for market orders, no PDT , leverage 4:1 for 500$-2000$ / 6:1 for >2000$. Are they legit? Any info would be appreciated. Thank you in advance.
They don't except accounts from people living in the U.S, and they get paid paid for routing there order flow to certain venues. Depending on the style of your trading, you may get very poor fills because of their routing. This is all in the "FAQ" section of their website, I don't have any personal experience with them.
That's unbelievable, limit orders cost nothing! : https://www.tradezero.co/pricing Code: Fee Example Commission Buy 1000 shares of AAPL at less than $125.25 AAPL Current Price (Bid 125.20 x Ask 125.25) Free Sell 10000 shares SIRI at greater than $3.65 SIRI Current Price (Bid 3.65 x Ask 3.70) Free
The only thing I found about them was this review: tradingschools .org/reviews/trade-zero/, but you can not trust reviews on the internet these days.
There is nothing unbelievable about it. If you were trading with real money instead of using simulated data, you'd know this. They sell their order flow therefore guaranteeing you get terrible fills. If you provide liquidity (=limit orders), you would routinely get paid to trade.
Ok, now I understand their structure. Yes there were times in the past when brokers had "commission wars" advertising agressively for paying for providing liquidity etc. Ok, same thing, just made compact and handy...
??? U never heard of order flow fees ?? You can set a limit order and the broker can modify ur order. IMO its all rubbish. Its just another fee and should all be included in the commission.... Just brokers taking money that they shouldn't. Which broker are you with? I'l look up their order flow statement... all of them have one.