low commission broker???

Discussion in 'Retail Brokers' started by Lt. Dan, Jan 11, 2006.

  1. Lt. Dan

    Lt. Dan

    I'm wondering who is a good low commission online broker? I currently use Scottrade but I do a lot of daytrading and that 7 dollars a trade adds up. I have heard of ones that are especially for daytraders. I would also prefer one that is user friendly. I know I can search the web myself through the thousands of ones available, but I was hoping some of you might have suggestions. Thanks.
  2. Choad


  3. What type of orders do you place most often? Market orders? Limit orders? Do you place orders away from the market price or at the market price? Depending on your style of trading, some brokers will be more competetive than others.
  4. Lt. Dan

    Lt. Dan

    Mostly market orders at market price, for now. a limit order every now and then.
  5. ok how many shares do you trade per order most of the time?
  6. Lt. Dan

    Lt. Dan

    50-100 each stock
  7. IB
  8. IB. Agreed.
  9. Nope. MB Trading also charges SEC fees, which increase the cost of trading substantially above the price you gave.

    IB will let you trade 200 shares for $1, including all SEC and ECN and other fees. This will cost you well over $2 at MB Trading.

    Watch out. People give a lot inaccurate information promoting brokers on this website.
    #10     Jan 12, 2006