Free US stock commissions internationally

I guess we just have to hope that when IB claim price improvement of 0.0043 per share, that is indeed what we would have lost using payment-for-order-flow zero commission brokers.

However, I am not sure that is the case. I would have loved to test it, because it would have been easy to test.

 

It wouldn’t be easy to test. You send two orders from two accounts for 100 shares. One order hits NYSE which has 100 shares so other order hits NASDAQ for other 100 shares since NBBO shows 200 shares on ask.

One order hits NYSE first. HFT market makers see NYSE get hit, they move their market on other exchanges in microseconds.

So now is it an issue of better fills, latency, the microseconds between sending those orders, etc.

The stock markets are a highly fragmented mess compared to say a single exchange like the CME.

What be easy to test is multiple resting limit orders. Need a decent base to see if theirs more consistency on one for fills on a more active exchange or perhaps noticing the non free commission is accessing darkpools for better fills before hitting visible ECN’s

 

Of course you cannot infer anything from sending two orders. By "easy" I did not mean sending one order from each account.

Same order size. Same order type. Same limit. Always the same relative to NBBO. Repeat for 1.000 orders. Average price. Average commission. Is there a difference? Is is significant? That's what I meant by "easy."

 

It is going to be interesting to see which strategy Tradestation pursues. Hopefully they will include non-US clients.

 

Just looking at website this seems to be specifically for Canada, Singapore, Malaysia, China, or Hong Kong.

So maybe other countries (like in Europe) are treated like US costomer...

 

Would be surprising that EU customers are treated like US ones while Canadian ones are not.

 

Hi Guys,

I just confirmed with TDA Singapore. They said the new zero cost commission structure is only applicable for US based clients at this moment.

Can anyone here confirm that Interactive Brokers' new zero cost commission structure is applicable to all (international) clients including those who are based in Singapore or Malaysia?

Thanks.

 

I can confirm that it is not. It is evident from the press release: "IBKR Lite will be made available to US residents."
https://www.businesswire.com/news/home/20190926005753/en/Interactive-Brokers-Launch-IBKR-Lite

 

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ALLY jumped on the zero comisssions; except option =400.50

 

I just spoke with TD Ameritrade twitter chat, asking if the $0 commission free trading applied to non-U.S. residents. They said "Yes, the $0 commission offer applies to everyone trading US listed stocks and ETFs".