I couldn't figure out what an island NASDAQ fee is. Can anyone help? I have averaged about 3.2 million shares per month for the last 5.5 month since I've started using IB. So pretty much if I switch to Unbundled, I will get to pay 0.002 + exchange fees instead of 0.005. In the examples, they show an island nasdaq fee for shares trade with "remove liquidity". What does this mean?
you buy at ask-you remove liquidity.you sell at ask and someone hit your order(buying from you)-you adding liquidity. is it so hard to check few trades commish to figure this out? you trade millions of shares each month and you don't know that? wow
Thanks for the replies. I've changed over to unbundled. I'm pretty incompetent at these things. NASDAQ stocks look pretty expensive to trade.
it's all depends on what you are doing and how you trade.unbundled cut my commissions expenses in half. but! if you are removing liquidity all the time (ie-buying at ask and selling at bid) commissions will be pretty high. keep some sort of spreadsheet and compare or wait until end of the month and compare