We receive rebates for routing to exchanges, we scrape the inverted pricing exchanges and dark pools as well. We participate in the margin debit and credit interest, as well as the fees for facilitating shorts of HTB stocks.
I'm not going to comment on another sponsor or another business model. I have faith that our target market is well served with choice of third-party software, a large number of routes, choice of per trade or per share pricing, a well-trained support desk and me as their rep with 38 years in the business. bob
But then again, this post is about fees per share only. The rest is for the birds really. You will have to adapt or the 0 com crowed will eat your lunch. I wonder how long it will take IB to wake up to this new reality.
Thank you for your answer, which surprises me. How do you make money on opening and closing auction orders? Surely, you can't sell those orders to HFTs.
Well the post title was “Is IB the cheapest broker for larger investors trading frequently?” That is why I responded with our per trade rate which is less expensive if you add liquidity and send orders over a certain level. We can also match or do better for the most active clients with a lower per share min. We also do not restrict api orders to smart routes to get one fee and offer another rate for directed equity orders. This is all way to complex for simple responses.
"All orders must be limits for 200 shares or more and not create an immediate match." https://www.tradezero.co/freetrades A MOC order is not a limit order and does create a match?