so you are saying that for NYSE doing 15-20k a day you are paying 0.0025 +200 software fee, at Genesis? you can't get anywhere close to 0.003 at Bright no matter what kind of volume you do.
giggollo: You post over and over again about IB being bad by not offering a per-ticket rate. Most traders here seem happy that the bad old days of per-ticket commissions are over, and welcome low-minimum per-share rates because we trade smaller blocks of shares, and need to move our orders around without penalty. If you want a per-ticket rate, there are plenty of brokers that will cater to you. Nothing wrong with suggesting something, but why post the same thing over and over again, particularly when nobody else seems to be saying "me too"? AFAIK, 0.0035 with no volume commitment and effectively no software fees is a very good rate. The other rates at higher volume are also probably quite good - certainly competitive.
Thanks for your comments alanm and for sharing your opinion. I never said IB is "bad" (that would be a strange statement to make indeed) but i do say that it is one of few brokers that still does not offer a per order commission structure. I am a client and fan of IB, i have happily traded there for years, but i moved my capital out recently to one of the "plenty of brokers" that provide per order pricing with ECN-passthru. I have recommended IB to another trader on this board when he indicated he trades small size. Let me be clear. IB has an excellent platform and is very competetive when you take everything together. However, that doesnt change the fact that in the very specific case of commissions paid by add-liquidity traders, it is not competetive right now as i have illustrated, and its new unbundled pricing structure unfortunately hasnt changed that. I invite you or anyone else to share your opinion on this topic in the spirit of open discussion and freedom of expression. Best regards
Does IB charge a fee for their connection or is it absorbed into their commissions. What about exchange fees ( CME,CBOT) Does IB charge these or are they also absorbed?
Try their website under Market Data subscriptions for details- Here is an extract: US Securities & Commodities Non-Professional Bundle (Includes all Stock, Options, Futures and Bond markets) United States Free (USD 10.00 market data fee if less than USD 30.00 in commissions per month) Jack
If big traders are getting rooked at IB, then it follows that small traders are getting rooked at the other places with small fixed rate comm. It's the same argument you get over sec fees. If sec fees were fixed, the small guys cost would go up, because the gov has to meet certain revenue targets.