Hello, I've been shopping around for the best stock broker for my needs and I hope I can get some advice from the veterans. Here is how I normally trade: 1. 100 to 1000 shares per trade; 2. about 2k shares per day on average (normally 2 to 15 trades per day) 3. I only trade stocks; 4. I only do LOO/LOC/MOO/MOC trades and at least 90% of the orders will be filled. I originally wanted to go with sogotrade since they have $1.5/trade for premium accounts, but unfortunately they don't have LOC/MOC types of orders. So far I have narrowed down to a few: 1. optionshouse: $2.95 per trade; 2. IB: with bundled fees, I can trade up to 600 shares for less than the costs of optionshouse, but I have to pay for more if occasionally. With unbundled fees, it seems some of the exchanges have good pricing for LOO/LOC/MOO/MOC trades but not sure about the others. 3. Lightspeed: it seems the commission is higher than IB, am I right? 4. Genesis: is it true that I have to pay $200/month for software? If so I am not ready to pay such monthly fee yet. Thanks in advance!
Ok you said you would be happy to go with Sogo, but you'd pay about the same if you go with Genesis. With sogo you'd pay (2 to 15 traders per day) * (about 20 trading days/month) * 1.5$ = 255$ for that month(average). (((2x20)+(15x20))/2)*1.5= 255$ With genesis you'd pay (100 to 1000 shares/day) *(20days) * (probably 0.007/share price, not sure.) + 200 = 277$ (((100x20)+(1000x20))/2)* 0.007 = 277$ Sorry if my math is wrong, but it's worth a look