I've been looking at different brokers, suitable for my kind of trading. The ones I've compared are CyberTrader, IB and TradeStation. I trade almost without exception QQQ, 1000 or 2000 at a time. During some periods, I don't trade at all, due to too much work in my firm, so the cost when not trading is important as well. In any case, I want to use TS for the excellent charting possibilities, which costs me 100 per month. Integrating the trading into TS then seems like a move in the right decision. This comparison is based on 20 trades per month, estimating 2 trades per day I'm trading, e.g., trading every second day in average. I think I've done the right calculations, but if you see any mistakes, please let me know. CyberTrader: Data fees: $199 if <20 trades/month, $99 if <50 trades/month, 0 if >50 trades/month. Trading QQQ: 15 USD/trade + Amex 0.005/share. Interactive Brokers: Level II fee $79/month, if less than $30 commission per month, and 0 if more. Trading QQQ: 0.01/share if less than 500 shares, 0.005/share if more than 500. TradeStation: Base fee: 99.95/month (L2 included and ECN fees). Trading QQQ: 0.012/share if less than 1500 shares, 0.0075/share if more than 1500. * No trading at all 1 month: CT 199+100=299, IB 79+100=179, TS 100 * 1000 QQQâs 20 trades (1 month): CT 99+800+100=999, IB 0+300+100=400, TS 100+480=580 * 2000 QQQâs 20 trades (1 month): CT 99+1000+100=1199, IB 0+500+100=600, TS 100+870=970 * 1000 QQQâs 300 trades (1 year): CT 1188+12000+1200=14388, IB 0+4500+1200=5700, TS 1200+7200=8400 * 2000 QQQâs 300 trades (1 year): CT 1188+15000+1200=17388, IB 0+7500+1200=8700, TS 1200+13050=14250 What stands out is that if trading 1000 or less per trade, the difference between CT and the other two is really significant, while if trading more than 2000 per trade, the difference is less important.