Broker for shares over 3000 ?

Discussion in 'Retail Brokers' started by kezzel, Apr 16, 2004.

  1. kezzel



    A lot of trader trade with IB, but i wonder why. The Commissions for 3000 shares and more a expensive. Where all the pennystocktrader have they account? If i want trade 4000 REDF for example, i must pay 500 x 0,01 + 4500 x 0,005 = 27, 50 $?? That is a lot. If i wanna trade pennystocks, for example 20.000 SNTK i must pay 500 x 0,01 + 19500 x 0,005 = 102,50 $???

    I am still searching a us -Broker to trade all of them, shares,nasdaq,pennystocks and futures(Fdax). Maybe you can give me a hint, where i found a good broker with flaatfee.

    Thanks for you support and apollogice my english, still learning.

    Best reegards.

  2. hans130


    $5 per trade, unlimited shares. Have to route via schwab.
  3. kezzel


    Schwab sounds serious. Is they orderrouting good? Get i always the best price for my trade?

  4. hans130


    yes very good. sometimes better than routing to direct market centers. for example. i had 30k shares of a stock with only 800k volume. isld was on the bid with 5k and the next three levels down were other market makers with max of 500 shares each. i sent limit orders via schwab to isld price of 5k each. schwab executed them immediately without hitting isld on the bid. i ended up selling 25k stock without affecting the volatility of the stock.

    schwab is really bad at the first 5 minutes and the last 5 minutes of the trading day. i have been pleased with my routing with them, but u have to learn when is the best time to route to them.
  5. gms


    Because some trade only a few hundred shares at a time. And regardless of the number of shares, most traders do not wish to be charged the hidden costs of "order flow" that web based brokers get per share, nor do most traders want the few seconds of delay in execution (and the browser based trading platform) that web based brokers cause, they prefer direct access brokers.
  6. kezzel


    @gms thanks

    Which direct acces broker dou you mean? Is IB a direct acces broker or ameritrade?
  7. simsim


    With IB u can not trade penny stocks. CHeck with them before u open the account.
  8. kezzel


    Thanks. Xoomtrade looks nice.

    There homepage ist quite god. But i wonder about the flattfee 5$. Maybe this is right for me.
  9. kean


    Don't waste your time with Xoom. Their stale quotes and downtime are ridiculous.
  10. kezzel


    @kean. Which broker you use? Can you gibe me a hint?
    #10     Apr 16, 2004