I trade prop with a direct access broker and am not allowed to hold positions overnight. I am looking for an online broker that I can use to swing trade stocks. I know of Tradestation, what are some of the other brokers like Tradestation that have cheap commissions and don't require $30,000 To open an account? I am not looking for the PDT 4-1 buying power, I just want to find an online broker with very small commission fees (preferibaly by the share, rather than a set price, as I will only be trading in small lots, 100-500 shares and don't want to pay $20 total comission to trade 100 share lots. Thanks
www.interactivebrokers.com $1 commission for 100 shares stock. $1 commission for 1 SSF contract = 100 shares, 5:1 buying power day, night, weekends.
my firm only is charging me .009 per share, if my math is correct I think that is only $.90 cents per 100 shares. And I can hold overnight with all the leverage I ever need. J-
I trade 300-500 SPY with MB and they have 2 commission plans. I pay $3.75 for a 300 share trade. You can check their plans out at: http://www.mbtrading.com/fees.asp?lft=hme&hlt=11