Registered: Oct 2003
05-07-12 11:04 PM
i just want to mention to you that i called IB and the person on the phone told me there really in no savings using cost plus until you trade 300k shares a month. i don't think its difficult to trade 300k but i am not sure how many times a month i want to trade.
i noticed lightspeed and speed trader use penson so IB is more appealing now. i don't think you will lose your money with penson i just don't know if its worth the aggravation.
Quote from def:
It's not about rebate trading. Sometime you'll take liquidity but other times you'll remove. However, why would you direct route to NYSE and not use a router like SMART which will get you better fills. Have you seen NYSE's market share lately? It's the total net cost that matters.
But in any event, you continue to miss out on the apple to apple comparison between brokers and you also fail to note on speed traders site that they charge routing fees. The routing fee they state for NYSE is .005. That brings their minimum commission greater than IB's flat fee as they charge .0089 and to note, the .005 they mark up according to their site, is significantly higher than the true NYSE fee.