Let's see. you fancy yourself an expert, so tell me how this works again . I place a limit order to buy at the offer. They HAVE to fill me quickly. The movement of price is random . How exactly does your paranoid explanation prevent me from prospering, IF I am on the right side of the move? I'll say it again, the only real problem is they make it impossible to interact with dumb money (many of you ) and buy the bid/sell the offer.
doesn't mean anything until there is broker that will partnership or LLC accounts with free stock trading
Who are you talking to? When have I called myself an expert? Are you paranoid? If you place a limit order to buy at the offer, you will get the offer (assuming your order is small enough not to be exposed to the "front-running" described in Flash Boys). You may even get an insignificant price improvement in the form of sub-pennying. If the market moves against your order - which Citadel and the other market makers see first due to co-location - they will take your order themselves. That means best case for you, you pay the spread. They earn the spread. Worst case for you, you end up paying the spread plus whatever the market has moved against you - that is you post your order thinking the offer is X, but in reality (measured in milliseconds) the offer is already X - Y. Not random. They see the move before you do.
Maverick2608 said: I assume by "they" you mean market makers. They sub-penny the limit orders until the market moves against you (which they are the first to see), then they take your limit order." Does this make sense to you ?
Can someone clarify that schwab is or isn't allowing use of desktop application? I've heard conflicting information. Thought I read was just on mobile and web like IB
Stock, ETF and Options Commissions Category: Corporate and Financial News Tuesday, October 1, 2019 5:45 am PDT Dateline: SAN FRANCISCO EmailPDFPrintRSS Public Company Information: NYSE: SCHW "From day one, my passion has been to make investing easier and more affordable for everyone. Beginning October 7, every Schwab client can trade U.S. stocks, ETFs and options commission-free. Eliminating commissions ensures my ultimate vision is realized – making investing accessible to all." SAN FRANCISCO--(BUSINESS WIRE)--Almost forty five years ago, Chuck Schwab made investing more accessible to all Americans with the concept of low commissions to buy and sell stocks. On October 7, 2019, in conjunction with the release of Mr. Schwab’s latest book, “Invested,” Charles Schwab & Co., Inc. is removing the final barrier to making investing accessible to everyone by eliminating commissions for stocks, ETFs and options listed on U.S. or Canadian exchanges, across all mobile and web trading channels1. Clients trading options will continue to pay 65 cents per contract. Founder and Chairman Charles Schwab said, “From day one, my passion has been to make investing easier and more affordable for everyone. Beginning October 7, every Schwab client can trade U.S. stocks, ETFs and options commission-free. Eliminating commissions ensures my ultimate vision is realized – making investing accessible to all.” Schwab CEO and President Walt Bettinger emphasized, “This is our price. Not a promotion. No catches. Period. Price should never be a barrier to investing for anyone, whether an experienced investor or someone just starting on the investing path. We’re proud to provide clients with a full-service, modern investing experience that delivers on our no trade-offs combination of service, simplicity and superior value – backed by a satisfaction guarantee2. In support of the valued independent investment advisors we serve, the same pricing will apply to their clients when trading at Schwab.” Beginning October 7, 2019, the company will reduce U.S. stock, ETF and options online trade commissions from $4.95 to zero. And with no minimum account size3 to open a full featured Schwab brokerage account, every investor, no matter how large or small, can benefit from the expertise and support of a firm that has been entrusted with more than $3.7 trillion in client assets. Every Schwab client using our web and mobile channels automatically qualifies for the new pricing, without opening a new account, making a new deposit or maintaining a minimum balance of any type. CHANGES TO COMMISSION STRUCTURE PER TRADE/OPTIONS CONTRACT CURRENT As of 10/7/19 U.S. stocks $4.95 $0 ETFs $4.95 $0 Options $4.95 +$0.65 per contract $0 commission $0.65 per contract Account minimum $0 $0 In addition to zero-commission online trading, every Schwab client benefits from a broad array of industry leading capabilities, including: Modern wealth management through a branch network of 365 branches and more than 7,800 client-facing professionals available either in person or via the phone or online chat A broad range of investment products and services to help investors meet their individual goals Award winning mobile, web and desktop trading platforms 24/7/365 service and support Free access to portfolio building and analysis tools including Portfolio Performance Reporting and our Select Lists Free access to Schwab’s market and equity research and tools including Schwab Equity Ratings® and investment screeners A broad-reaching Satisfaction Guarantee for clients, unique among brokerage firms – if a Schwab client is not satisfied for any reason, Schwab will refund any eligible commission, transaction fee or advisory program fee paid to the firm and work to make it right All Schwab clients benefit from Schwab’s superior execution quality and price improvement, and will continue to after this change Collectively these capabilities have led to significant industry recognition for Schwab. For more information on investing with Schwab, visit Why Schwab. To download the Schwab Mobile App, visit the Apple App Store here. Commentary from the CFO Peter Crawford, Executive Vice President and Chief Financial Officer, provides additional perspective on today’s announcement, including financial implications for the company, at: https://www.aboutschwab.com/cfo-commentary. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 365 offices and 12.1 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $3.72 trillion in client assets as of August 31, 2019. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.schwab.com and https://www.aboutschwab.com.
My system for scalping 1 or 2 cents for massive size now worth 3 million a year to me Thanks boys, Im gonna rich
I'd like to see ETRADE say "We are going to raise commissions to $10 a trade, because our customers are the dumbest on the planet"