Hello, I'm wondering if anybody can suggest a broker, whether retail or prop, that offers the lowest fees for black box trading. The trading would be about 150-200 trades a day, only Nasdaq, at 1000+ shares each trade. Or would it be better to deal directly with a clearing firm? Ideally I'm looking for $1 or less a ticket. Is this unrealistic? No per share pricing. Thanks!
Ok for stocks I'd assume? I just use IB with my black box signals that get pumped in to TWS via the eSignal plugin. For my futures systems I have a seat lease with the CBOT which lowers the commissions IMMENSELY. If you trade futures watch this http://puretick.com/video/idem.wmv if not then ignore.
Based upon the P&L thread, I believe Genesis might offer a fixed $1 per ticket rate for some traders. They should be worth at least contacting and asking. Their technology is outstanding, but their customer service is unfortunately really bad. As a result, you might find it difficult to get through to the right person to even get an answer to this question. Good luck, -Eric
Depending on what stocks you trade, a per share rate might be better. In my experience, Very few stocks, espeically on nasdaq, do you get filled in full on a single print......you will get 4 or 5 fills, perhaps more on that 1000 share order. Those 1$ tickets add up quick.