Bitstream, if you want lower commissions, just go somewhere else. I moved almost my entire IB account to AMTD, and purchased 6500 shares today for $9.99, with no fees, so I'm already about $27.50 ahead of where I would have been last week. You can keep complaining on here, or do something about it if you think moving is best for you overall. The only way that IB will change their pricing structure is if they think it will bring in or retain more business, so let them know why you left if you decide to do so.
i see your point but you're paying .002 cents per share for that trade with no SEC fees. We need to cover our costs. Other firms charging fixed pricing either subsidize the larger trades via their margins on smaller trades or perhaps get paid for their flow. Via direct access you might be able to obtain a better fill which would make up for the additional cost (1 penny saved is $20 on 2000 share). If you don't think so then you may want to find an alternative broker for those types of trades.
Are you saying that this (https://www.mbtrading.com/stocks.asp): Is not true for MBTR, e.g. that they are selling order flow? The read more says That says to me they arent being paid for order flow but they are routing orders to avoid paying for taking away liquidity whenever possible. Do you read that differently?
it's a different plan with different commissions structure, altough i admit they contradict themselves.
since u charge around $3 for 30Kshares of any stock that trades below $1 [if am not mistaken] i thought it would be sensible to make it the same for securities priced below $4; how come i have to pay almost nothin' for a stock that trades @0.98 and a fortune for one that trades @1: sorry but it doesnt make much sense...and sure the increase in volumes would more than make up for your costs. by the way, on those stocks there aint no way u gonna get price improvement, traded a lot of those priced at $5-6 and never got a penny better. u might try to buy the bid/sell ask but i never got filled other than a couple of times when i was immediately on the wrong side. R0R
may i add an educated guess? volumes would substantially increase imo...those securities would become very attractive to savvy traders that would begin' to take advantage of further diversification and take much bigger positions...if commissions cover ib's costs even if by a margin, that would be enough....if profits dont increase and stay the same i think it is worth doin' it for clients sake.
it is a possibility but cant be drastic since there cant be much volumes already on those stocks. u are right tho, am guessin'..i dont know about thier profits margins, i just thought stocks that trade below $1 have very low costs and cannot see what damage can do includin' also those that trade below $4.
Bitstream I saw your other post about SGX being the slowest to think & get out etc.what contracts do you trade there? sgxNikkei mimics the original Osaka movements.taiwan index at SGX -I heard is popular & have volumes-just curious. Refer to this thread about stocks below $10-Guys I have not traded them for a long time.Indivual stocks only day trade biggies like QCOM,AAPL,XOM etc watching the indices(% up/down more than index-more bang for the buck) If mind is blank trade IWM,SPY. Most of the time trade options on SPY/IWM,mini futures+ currency futures (during US hours)for -10/+20 ticks. IB is ok if you trade lot of options.