Question for you sir: I use Schwab and at one time OX. OptionsXpress charged me much higher commissions so I am now Schwab only (and another brokerage as diversification). With contract sizes I trade, Schwab is actually quite competitive. However, there are features on OX I like that StreetSmart Edge doesn't have. Are they going to incorporate OX features into Schwab eventually and if so when? Thanks.
If you're able to share the information, is it cheaper to trade high exchange fee products like SPX options through your setup with Eroom than with some of the regular retail brokers that don't separately pass on the exchange fees?
It would be cheaper for me to trade SPX through a firm like Think or Swim (TD) I have a good rate now, but I have to eat the exchange fees which can be an additional .61. It seems most commission rates at TD include that fee. For equities I am much better off where I am now, plus with equities I tend to make money on providing liquidity credits.
That's what I assumed based on my experience and some of your previous comments, but I haven't taken the time for the calls necessary to price the IB's out like it sounds like you have, so appreciate the info.
@Sig, another thing to consider if you are mainly trading the SPX is how your order is handled. With most brokers, if your order is over a certain size it is sent to the broker in the pit. In my experience, this is almost never a good thing. All of my orders, no mater how big are sent into the exchanges electronic book or the COB. To me this is worth paying more.
I'm with you on that, nothing more frustrating. I've literally never had a limit order filled when it gets sent to the pit, even when it gets filled instantly when I cancel and resubmit at a smaller size so it goes to the COB, even if that is just a 1 contract reduction.