You should switch out of IB. I did and my life couldn't be better!! For the very first time, I could be trading without constantly having to look over my shoulder to see whether and how much the broker is nickle and diming me over how much they are supposed to charge me on every trade like when I was with IB. I really should've left IB long time ago. The stress was so not worth it for the "low" commission that they advertise which is not so low anymore.
Obviously somebody is able to trade at prices that I cannot during these price capping episodes (i.e., I see the prints of people trading at prices that I can't). So if this is a regulatory issue, then each broker apparently can implement their own policy for it. Please someone show me a broker who has lax rules on this issue.
im considering cobra https://www.cobratrading.com/low-cost-online-trading-platform/ I trade 1m/month, so I would choose tiered share structure. That would be a price of 0.002c/share, but they route through IB so not sure if it is a good choice.
It's not too bad. It's the only broker so far that I have seen that charges no commission on broker-assisted trades but it has a $35 annual IRA fee which is dubious. Although if you are trading 1m/month, you should explore fixed-fee brokers that charge you a fixed amount for unlimited amount of shares so that way you can get economies of scale.
What do you think of Trader equity: http://www.traderequity.com/index.php it is a prop firm with very reasonable fees - but resided in british virgin islands I don't have any experience with prop firms.
It's based in British Virgin Island, offshore. I do not consider offshore brokers. My personal thing. Especially when they don't even mention whether they are regulated and by whom and there is not even a physical address of their office. Their methods of contact is via Live Chat, Twitter, Youtube and Email form (they don't even have an email address LOL), none of what I consider reliable methods of contact. If anything happens, do I even know where I have sent my money to and where they are located in British Virgin Island? If tomorrow they take down their website, how and where am I going to find them? Through Youtube? LOL Or am I supposed to carpet-search for them in the entire British Virgin Islands & Caymen Islands? LOL It's good at least they give the following notification in the tiny print at the very bottom of their webpage: Please Note: We DO NOT accept applicants from the USA.