if you're trading stock with volume you should contact Don at Bright Trading. he is the one that might offer you a good deal. but dont bullshit him as you'll be wasting an opportunity of a life time to make couple of millions in one-two years, assuming you're really good at this. good luck
I don't believe you do serious numbers. Someone doing 3 million shares/month... Probably has > $1 million in capital... And is probably netting around $50,000/month in profits. The primary concern would be safety of capital... NOT trying to save $3,000/month via some dodgy outfit. No one like this would leave IB because of commissions. Sky-fucking-whatever... stop spamming this board... And welcome to my Ignore List.
Also I would like to say thank you to the several people who have PMed me offering suggestions / tip on where I should look.
That volume is within our tiered schedule and comes in at $0.0015/share http://individuals.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=llc
I use IB as my primary broker (unbundled) but would like to say that the IB rate starts every month at the highest per share and you get discounts for shares OVER certain amounts. for example if you did 5 million shares in a month you would pay $ 0.0035 for your first 300,000 Shares $ 0.002 for the next 300,001-3,000,000 Shares and AFTER you pass the 3 m mark you will then get .0015 per share for anything above that. Of course all the other BS fees apply and IB does charge/rebate for ECN passthrough. I don't need a lot of leverage (usually) and I have yet to find a cheaper broker with the type of trading I do (unbundled rate and 95%+ adding liquidity) ** Don't call up IB and ask them a question though. better information about IB TWS on this board than with IB support
Exactly like you say the IB fee really adds about .0009 almost .001 to everything, so @ 5 million you are @ .0015 says support, well no not really you have to compare apples to apples and add the IB hidden fee which brings it to .0025, then because the structure is tiered it's like your total cost @ 5 million is somewhere about .003. I got a deal @ brokerage, recommended from you guys thanks getting .00175 @ 5 million.
I think you will like my response. Yes you can reduce your commission and actually make money by going from bundelled to unbundelled or vice versa. Check their website. My other suggestion is that if you can not make money even if IB doubles its commission, don't trade. I mean try to find low volume profitable trades. I assume that you know what you are doing so I stop advising.