Level2 to watch only, Level to order

Discussion in 'Order Execution' started by trtrkk, Sep 8, 2006.

  1. Toonces



    Are you referring to IB when you talk about the level 1 broker? If so, here are a couple of considerations.

    First, IB does offer level 2, and you can trade through it. I have found it awkward; they still don't offer the ease of use that other brokers have for level 2 trading. Also, they don't offer ecn books for listed securities.

    Second, IB is hard to beat on price, but there are a few retail brokers out there that offer better commission rates than others.
    Check out


    All of these offer per share pricing, if that's what you're looking for. Genesis and Schonfeld, you will have to contact to get pricing, but the others have their commissions listed on their websites.

    This site has a list of brokers, as does http://www.daytradingthemarkets.com/ and if you click on the links you can usually find their commissions on the websites.
    #11     Sep 11, 2006
  2. kelly55


    Which broker is most low comission?
    I trade low price stocks much. 1 order is 20,000-100,000 shares.
    #12     Sep 12, 2006
  3. Who charges different commissions for Level 1 vs Level 2? The commission should be the same regardless of level. You may pay different monthly quote data fees for Level 1 vs Level 2, but not different commissions.
    #13     Sep 12, 2006
  4. kelly55


    Ohhhhh surprise! comission is same?

    How many seconds is it need to order execution in level1 and level2?
    #14     Sep 13, 2006