Deep Discount Brokers

Discussion in 'Trading' started by Scalpa, Sep 15, 2002.

  1. Scalpa


    Are there any "deep" discount brokers left that offer limit orders for less than $3 with no per share limit? It seems they've all folded or been bought out in the past year. Financial Cafe merged with Brokerage America and BA is charging $5 commissions with no more rebates for Sub-$1 stocks. Freetradez is dust. I can't find any adequate resources that rate or compare brokers anymore now that Donald H's site is defunct.

    So any recommendations? The only requirements are limit orders less than $3 and no per share fees. I don't need direct access or anything fancy like that. I also could care less about checking, margin rates, research, charts, or any of those other services that some people need. Rebates would be a HUGE plus, but I don't know of any online brokers that offer this outside of Brokerage America.

    Thanks for any help,

  2. Scalpa


    Jeez, nearly a thousand views already and not a single person can offer me some guidance? :confused:

  3. def

    def Sponsor

    ok, here's my two cents:

    limit orders, no per share limit for $3.

    There is no free lunch. IMO, this is a money losing proposition. Add in ECN fees, clearing fees, sec fees and the infrastructure costs and the firm would probably be losing money on any order over 500 shares.
  4. prox


    Is $5 for a limit order so bad ?

    Lot of people would die for that.
  5. I think is 5 bucks for all orders. That would be the cheapest I've seen lately.