MB Trading www.mbtrading.com Awesome service, been satisfied customer for a year. I have used Freetrade awhile and been happy there, too bad they are closing. Trade easily premarket and postmarket as well without the Freetrade 15 minute block of time missing.
freetrades fills on limit large orders was horrible. all orders went to the 3rd market and mm's would hold. freetrade survived on order flow and i'm betting most clients did 20 or less trades a month and market makers have cut order flow even more as markets dead
Most venues to which IB routes charge them a per-share fee of some sort. Why would they want to charge you $5 for a 5K share order that they have to pay a $15 exchange fee to execute, plus an average of $2 in SEC/NASD fees, losing $12 (plus other internal costs) in the process? They would certainly rather you do that trade somewhere else.
I don't know, but if you're suggesting that $17 is the cheapest anyone can possibly move 5,000 shares for, then how is it that so many brokerages set their fixed commission rates for unlimited shares at less than $17 a trade? Per share pricing is the exception to the rule at most brokers. I'm not suggesting that anyone should go out of business, and I'm not suggesting that IB overcharges. What I AM suggesting is that the entire trading/market/exchange/broker infrastructure is set up to make it a practical impossiblity for a retail trader to scalp at one penny for a profit, because the MMs and specialists want to have that privilege all to themselves.
could try rml trading, 9.95 unlimited shares, ecn liquidity rebates, example: 5k shares, 9.95, rebate, .oo2 per share= 10.00, cost 0, except this is with nasdaq only, also sec fee on the sell side
I got a letter from Freetrade on Tuesday saying I was chosen by them to have my Commission structure stay the same as it is now on Freetrade, even when it becomes Izone. I thought maybe I should not post this on here, as it could cost me to lose this, ( many others contacting them asking why they did not get chosen also ) but after thinking it over, this board has been of a great help to me from time to time so what the heck. Here it is : "Dear Valued Freetrade Client: Ameritrade has launched a brand new trading platform - Ameritrade Izone. We designed Izone with some of the same great low-cost features you enjoy at Freetrade by Ameritrade like NO share limits and NO maintenance or order handling fees.1 At the end of the regular market session on April 29, 2005, Freetrade accounts are being transferred to Ameritrade Izone. What Does That Mean For You? Izone is backed by considerable technical and business resources. This will give Izone the ability to offer additional trading features and continued enhancements to Ameritrade Izone? clients. With Ameritrade Izone, you'll enjoy advanced trading technology and more access to trading features including: FREE real-time quotes. The ability to create your own UserID and password. Enhanced stop-limit orders - At Izone, you can set a stop price and a separate limit price. Short selling in the Extended-Hours Trading session.2 Customizable home page. The ability to create equity order defaults so your trading ticket fits your style. Programmable timeouts that allow you to set both the amount of time your trading site remains idle before logging you out and the length of time your review order screen is available before closing. And, because of your very special relationship with Freetrade, we will continue to offer you the Freetrade commission schedule:3 FREE commissions on first 20 equity trades every month $3 commission on trades 21-100 $2 commission on trades 101-200 $1 commission on trades 201 and higher That's right, despite the commissions on the Izone site you're among a select group of clients to receive the Freetrade commission schedule instead. Please review the Izone margin rates and service fees. Click here to find out more about Izone. What To Do Now Nothing. Any subscriptions you have at Freetrade will be automatically transferred at the same rates. Account history, banking instructions and tax information from your Freetrade account will automatically transfer to Izone. Even your account number and PIN will stay the same. And just like Freetrade, everything at Ameritrade Izone is electronic. You'll use the Internet to retrieve statements and trade confirmations, fund your account and contact Client Services. Once The Transfer Occurs... You'll simply use your account number and PIN to create your own UserID and password. That means more convenience and greater account security for you. Freetrade Will Close On April 29 As the day approaches, we'll send you more information on what's happening. In the meantime, take a look at the links in this e-mail for more information about Izone and review the minimum system requirements for the Izone site. We're confident that you'll enjoy all the new trading features your Ameritrade Izone account will give you. If you have any questions before the transfer, please e-mail our Client Services department. We appreciate your business and look forward to serving you as an Ameritrade Izone client. "
What really upsets me as well is that they are not even waiving their $50 transfer out fee for those of us who will now be leaving.
And to be honest, when I first signed up with thme as I was very happy, as I do large trades 2500 to 5000 But in the last few months, it has been terrible, it seems the only time I get my limit order filled, is when the price gooes through me.