A Modest Proposal (for IB)

Discussion in 'Retail Brokers' started by mgkrebs, Jul 15, 2002.

  1. mgkrebs


    How about a commission scale that would reduce commission on a sliding scale, sort of like the 1/2 cent per share charge on share amounts over 500 on a trade. What I'm proposing is that IB give a customer that 1/2 cent rate on all subsequent shares for the same symbol on a given day.

    This would be great for scalpers or index traders who trade the same symbol repeatedly throughout the day.

    Example, trade 1000 qqq, pay $7.50, next trade and each following trade on that day, trade 1000 qqq, pay $5.00.

    How 'bout it?
  2. OOH YEAHH!!

    I second that!!!
  3. nitro


    LOL - sure!

  4. specul8tor

    specul8tor Guest

    why not just ask foe a $ per trade. as long as you don't have to call your broker i think it's fair
  5. alanm


    At the expense of those who trade just a little of each stock during the day. The money has to be made up somewhere. It's the same argument as the $25 cap on a single order - subsidising some orders at the expense of others.
  6. I'm sure they well take that into consideration since you have no idea about there cost structure and throwing out a numbers that lower revenues doesn't make much sense, especially when you have some of the lowest prices around. Questions about service or execution platforms work, but I won't touch the pricing issue, they aren't a public company so they don't have to disclose that info (If you do have an account with them or request it they will send a financial disclosure information they send out quarterly with balance sheet info), but you won't find out there cost per trade, and how viable such a proposal is, and I'm sure that they'll take a random posters suggestion though.
  7. And I want the ability to implement a do-over order. Where you can just cancel a trade a day that you don't want. Hence the name Do-over Order. I'm sure you'd increase you customer base by millions.
  8. def

    def Interactive Brokers

    Don't expect a cap on trade fees in the near term. It was discussed in the past but subsidizing large trades at the expense of the bread and butter doesn't make sense.
  9. How about a free use of the IB time machine instead?
  10. alanm


    I, too, would like this ability. I did a trade in February that will sting for years...
    #10     Jul 18, 2002