I am looking for most low comission broker for stock trading. I will trade $1-3 low price stock for 100.000 , so if I use some broker,, the comission is expensive, I want more cheap comission than 1 trade per $5.
flat rate [$5 side] is as good as it gets for the size u are doin' on those stocks...trough direct access u pay 10fold that or more. ror, how can u complain, $10r/t on 100k is nuthin'.
omfg, sorry but didnt u get it? those rates are flat rates and are the best around for penny and low priced stocks. they are even better than commissions of direct access brokers for higher priced stocks, only drawdown is that scalin' in and out becomes very expensive. rates for ecns models brokers are on a per share basis cost...around .005 a share all in: $1 for 100 shares...with this structure go figure how much it would cost u a position of 100k shares on a $1 stock.
I dont use level2, because spped of excecution of order is same with level1. so use level1 is better even do daytrading. I usually do trade 20 times per day. So per month is 20X20days= 400 times If I use broker of which comission is $5 flat rate per trade , I must pay 400X5= $2000 every month. so expenive, then I must search more low comission broker.
direct access brokers route your orders to ecns, always lookin' for the best possible price. flat rates ones instead are lookin' to avoid payin' ecns fees otherwise thier costs would be atrocious since they offer u very low rates no matter the size u do; what they do is route 'em to venues where they either get paid for order flows or dont have to pay any fees. i cannnot see how any broker could offer a better rate than $5 a side and be able to cover costs. i tell ya again, for the 3rd time that on low priced stocks if u are tradin' more than 1k shares per transaction $5 a side is as good as it gets, there's not a chance u will find anythin' better. edit; by the way, if by some kinda miracle u able to find a broker that offers u a better deal than $5 a side and it's a decent overall broker let us know.
ib is my broker; i pay .005 a side [unbundled]; will prolly swtich to bundled soon since i trade enough volumes to take advantage of better rates. this is one of the cheapest around but NOT for low priced stocks. a 2k shares r/t for a $2 stock costs u $16 bucks...if u trade 20k it becomes $160 since as i told u direct access brokers offer commissions structured around a per share basis cost, not a flat fee.
If you're trading 100000 of a $1 to $3 stock, doesn't this mean the tick size is $.01 and every tick means a change of $1000? I think if you're dealing with that kind of money, looking for a broker that will give your order good execution is more important than saving $5 per trade.