Discussion in 'Retail Brokers' started by r-in, Sep 26, 2005.

  1. r-in


    I see where I can get $7 for up to 2000shs, plus $200/month platform which includes NYSE and AMEX Level 1 and Nasdaq level 2, and charting. This includes all ECNS, so no give or take for me. Other option is 0.05 per share plus $150 platform fee after $50 rebate and pass through on ECN fees and rebates. The current option is to go through Tradestation which is current backup, their at 0.01 1st 500 shs and 0.006 after that, no ECN fees or rebates. My best estimate for my volume at least intially will be around 200,000shs per month.
    Just curious for input and see if I'm missing anything I need to check on before jumping on either. Been ahwile since I've been an equity trader, but I'm doing more and more the past couple months so I figure I should start looking for the best deal.
  2. alanm


    I assume you meant 0.005/share, not 0.05/share.

    The appropriate fee scheme depends on what and how you trade. The only way to compare the three effectively is to know what your trade sizes are (shares/order), what you trade (listed and/or Naz), and how many shares of liquidity you remove vs. add.

    Last time I compared brokers, I put a few months of trades and some simple formulae in a spreadsheet to calc the results for different fee schemes that were available.
  3. r-in


    Sorry, yes .005. I typically trade in 1000 to 2000 share lots. I generally use limit in/ limit out orders, so if I understand a little about rebates, I think I would be getting them as opposed to paying fees. I admit I'm new to thinking about ECN adds or subtracts, been only swing trading stocks for the past few years and daytrading the mini contracts. Thanks for the input, I am putting together a spreadsheet to figure different scenarios, just wanted to get others thoughts also.
  4. r-in


    Can add also, mainly EFT's QQQQ and SMH and Nasdaq stocks, although a few NYSE as I find an opportunity.