Retail firm without the $1 minimum commission on stock orders?

Discussion in 'Retail Brokers' started by bellman, May 4, 2012.

  1. bellman

    bellman

    Are there any?

    Especially any retail brokerages that offer a c++ API with low commissions and specifically any that do not have the min $1 charge per trade. I like to trade 100 shares at a time.
     
  2. Bob111

    Bob111

    IB unbundled. just sell at ask and buy at the bid
     
  3. I think he means Cost-Plus at IB.
    It depends on the volume you trade, but if using only limit orders (adding liquidity), you'll probably be well under $1. I'm not sure if the cost-plus has the same minimum though for a small number like 100 shares.
     
  4. Bob111

    Bob111


    yeah..i guess...that's how they use to called it..unbundled..like 5 years ago maybe( not visiting IB's site very often)
    0.7 minimum. read this

    http://individuals.interactivebrokers.com/en/p.php?f=commission

    # [1] Volume tiers are applied based on monthly cumulative trade volume summed across all stock and ETF shares at the time of the trade. Only shares that are traded while under the Cost Plus pricing structure will count towards the monthly volume. Share volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 500,000 US shares in a month, your IB Cost Plus fees would be:

    * 300,000 shares at USD 0.0035
    * 200,000 shares at USD 0.002

    # [2] USD 0.35 minimum per order for monthly volume exceeding 100,000,000 shares.
    USD 0.70 minimum per order for monthly volume up to 100,000,000 shares.
    # [3] CAD 1.00 minimum per order.
    # [4] Transaction fees are only charged for sell orders.
    # [5] No exchange, clearing or transaction fees charged.
     
  5. Bob111

    Bob111

    here is small example from today(those who keep saying that i was wrong about HFT and their BS games -keep your eye on odd lots like 1-2-10-30 shares-do you seriously believe that i'm idiot,wasting comish to buy 1-10 shares? those are the winning trades,where i didn't get filled . not one, but ALL of them. this is a one little perfect example of what i was describing in some other thread about HFT)

    those who actually DO DAY TRADE know this. those who don't-keep saying it's all BS and HFT is good and do provide fair market and liquidity. yeah..right..until you run into it. and i do this every day 10's times a day
     
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  6. bellman

    bellman

    Thank you guys. It has been a while since I looked into IB. So, IB is currently the lowest with a $0.70 minimum? It is robbery to charge for partial fills like that.
     
  7. cookding

    cookding

    I use lightspeed. my account was setup without minimum.
     
  8. Why don't you send All or None orders instead?
     
  9. Bob111

    Bob111



    have you tired that? AON orders have even less chance of any execution. at least with basic limit order i can get some shares.

    spend some time and read AON description:

    http://www.interactivebrokers.com/en/trading/orders/aon.php?ib_entity=llc
     
  10. GregoryG

    GregoryG

    i know of one - but not sure about C++ api. C# / FIX yes.

    but that one needs a good minimum account size.
    pm me for details - wont post any firm names here
     
    #10     May 7, 2012