Hi Guys, Why is the market data free of charge with TDAmeritrade whereas there is a monthly fee with other brokers? Doesnt the fee go to exchanges? Thanks,
If your not designated "professional", data fees are very inexpensive. So, for some retail accounts that pay high rates, paying for data fees is a small expense.
Depends on your broker. For example, Open ECry does not charge live accounts a data fee. Platform and data is free, which is a big cost saver IMO. http://www.openecry.com Prior to using OEC I was using a mix of T4 (for dom), a data vendor and something for charting. T4 alone was $500/mo at the time (based on usage). That fee maybe different now. At the least it's worth looking at a broker like OEC that will give you that for free and see if it can handle what you want. Or you can plug their data into MultiCharts and some other platforms. Still save the monthly data fee.