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Any other $1 <100 shares brokers besides IB?

  1. Hey guys, I was wondering what other brokers have cheap a fee structure for small orders, similar to IB but without other hidden expenses. I won't be using IB because of their $10 data fee for accounts that do less than $30 in commissions a month which I won't)

    Thanks
     
  2. foliofn , sharebuilder ?

    :)
     
  3. Are you bothered to pay $10/month ? Is this a typo
    or am i not reading correctly? :confused:
     
  4. You don't make more than $30 in trades for 1 month? :confused:

    I wouldn't be able to make any real money without putting on some trades...

    P.S. I think you can go to the market subscription in the Account Management and remove the U.S. Equities market subscription.
     
  5. Can someone from IB clarify this potential option; is it possible to bypass paying the $10 monthly fee if a customer elects to not subscribe to, or use, any market data and subsequentially generates no commissions? This would be a nice fit for actual investors, traders wanting to walk away, etc. TIA
     
  6. This thread should be renamed to "Damn I am one cheap mofo"

    ozzy
     
  7. I believe you used to be able to do this but I vaguely remember IB not allowing this option anymore. Contact IB to make sure.
     
  8. Haha, it's true too that's how I saved up my trading money (which admittedly is not a lot)

    THanks Spyder, MB trading is just what I'm looking for
     
  9. Yep some might even consider me to be an in(censored) I'll be buying 20-100 shares at a time and holding for 1-6 months. No more than 5-6 orders a month
     
  10. This firm has the perfect solution for your trading.


    http://www.piker.com


    Pronunciation: 'pI-k&r
    Function: noun
    Etymology: pike to play cautiously, of unknown origin
    1 : one who gambles or speculates with small amounts of money
    2 : one who does things in a small way; also : TIGHTWAD, CHEAPSKATE
     
  11. What is wrong with learning inexpensively?
     
  12. if you intend to use a charting software as well, then you can try the tradestation package. if you will not use any professional charting software than tradestation is not relevant.
     
  13. Why? Because trading is expensive business. Yes, you can
    do some cost saving, but not like avoiding exchange fees.

    -Puting $20, $100 in you account, actually it's not any
    difference than having no money in your account, there
    is no emotion involved.

    -Puting on few traders a year, don't hold any truth about
    validity of your strategy, you need to make 100 trades a
    year as long term investor at least for any proven strategy

    Look at this thread to see what others are spending
    http://www.elitetrader.com/vb/showthread.php?s=&threadid=51723&perpage=6&pagenumber=1
     
  14. If the guy wants to make a couple of trades per year, $120 per year for quotes blows . I don't think he has to subscribe to data to trade
     
  15. Try buy & hold dot com.

    It Is against ET policy to post the link...

    Get Creative


    Unlimited window trades (3 windows per day) for a flat fee of 14.95/mo...

    Michael B.
     
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  17. I'm starting with $10,000 not $20. I don't intend to use all of it though (at least not at first) Also I don't agree with your 100 trades a year rule. Sounds like something a broker would say.
     
  18. Nothing is wrong. If I were in your shoes I would contact an IB rep and ask if you can turn the market data off for stocks so you don't have to pay the market data monthly fee ($10). If you can do this, it might be strange to trade, since the TWS works best when it has quotes showing. You'll have to find another source for quotes.
     
  19. Looking at all of MB Trading's fees that are in addition to the penny a share, I think IB for sure has the better deal for stocks. IB's all included price keeps my accounting simple.

    AshanD,
    I like your plan for getting started with your education in stock trading (go slow and see what develops). If you are young in your years, you will have a lot of time to learn and perfect your methods. I wish you the best.
     
  20. :D :D