I am looking to put together an automated trading strategy with my friend which will buy and sell stocks several times a day. Ameritrade can offer $7 dollar commissions on trades regardless of the size, while IB charges .5 cents a trade. Theoretically, Ameritrade would be cheaper than IB for handling larger trades. For example, if I bought 5000 shares I would pay a commission of $25 dollars on IB and only $7 dollars on Ameritrade. Are there hidden costs to Ameritrade or IB? Does IB offer better price improvement?