Friend of mine just negotiated his Robinhood commissions. Starting next week, he would receive 20 cent per trade, no matter what. IBKR Pro, Lightspeed and TradeStation have all become the most expensive brokers out there.
I hope everybody gets why this trend is developing. The market is set up for another crash. As we all know, if you need to sell your shares you have to have a buyer. The big boys can't get out of their positions unless there are enough suckers to buy their shares. So right at the top of the market they need a few gimmicks to make as much suckers buy as possible. Behold the advent of E-micro, commission free, negative commission, fund your account with credit cards etc....etc...etc. Thats before the market goes parabolic and everybody and their mother think they can become millionaires. Which side do you want to be?
So he's the whole day trading 1 lot of $1.00 stocks back and forth? He can be millionaire in a few days...
Are any of the direct market access brokers with good keyboard hot-keys to place trades like Lightspeed/IBKR Pro reducing any fees?
That is not true if you are going to take execution quality, margin, interest and all cost into account.
This does not bode well for sure. An ominous sign of some big negative changes coming traders' way. I am sure the brokers didn't do it on a whim. I hope I am wrong.
Maybe brokers have become more efficient and they can make enough money off the spread alone to get the job done. Lower their price and create more retail demand.