Any retail firms that don't charge you for market data if you trade under a business?

Discussion in 'Retail Brokers' started by investwthme, Apr 25, 2012.

  1. I want to get back into trading. Going to start with 5-10k, and just position trade for a while. I may not even trade for a few months at a time. More like just investing.
    Spoke with a rep with IB but they charge way too much (I think) for market data if I want to trade under a business entity. Cant qualify for non professional just because I want to trade under a business name.

    Are their any firms that won't charge for market data fees, or have some bundled fees if I want to trade under a business entity?
    Thanks in advance
  2. rmorse

    rmorse Sponsor

    Under the definition of "professional" for the data providers, all entities are considered professional. The only way you'll find someone to eat the data fees is if you're trading good volume.

  3. IB only charges 10 for non professionals. Why am I considered a professional just because I am operating under a business name?
  4. rmorse

    rmorse Sponsor

    Is the NASDAQ Subscriber Agreement1 signed in the name of a business or commercial entity?
    Because a non-professional subscriber must be a natural person, the NASDAQ Subscriber Agreement1 must be signed by an individual.
    If the NASDAQ Subscriber Agreement1 is signed in the name of a business or commercial entity, it is considered professional use.

    This is not set by the broker. It's set by the exchanges that sell data feeds.
  5. Bob111


    yes. open personal account(TD ameritrade comes to mind) with absolute minimum money(which can be withdrawn later) and use their basic data. or get some really cheap subscription(yahoo real time is pretty good @ 13 a month). possibilities are endless.

    i use to DAY trade 100+ stocks baskets with IB pro account with no data. no problem at all.:)
  6. Thank you Bob, I may just get the yahoo subscription with a an IB pro account, minus the market data.
    For reasons I can't disclose here I can't have the account under my name at the current moment.
    I could always open a individual account under someone elses name, but that usually leads to trouble
  7. Bob111


  8. Daal


    Yahoo stinks, the bid and ask are not NBBO(only the trades are real there). Get InvestorsHub data, same price but WAY better
  9. or open an ira with them use that data.

    An ira has the least account balance minimum
  10. - ?
    #10     Apr 26, 2012