speed trader vs lightspeed vs IB who is the best in retail?

Discussion in 'Retail Brokers' started by brokerboy, May 3, 2012.

  1. i would love to hear anything about these retail firms. if you know anything good or bad please share?
  2. why do you think there are so many IB users here?

    you can pick another.

    It'll help the IB users get ahead more. :)
  3. i am lost what are you trying to say? i am asking about the good and bad of all of them. speed trader has lower rates so i am curious if anybody is using them.
  4. I closed my account with them pronto. Nuf said.
  5. rmorse

    rmorse Sponsor

    Maybe it would be more productive if you listed the most important features you feel YOU need for a broker and their trading platform. Also, how would you define "retail."
  6. that makes sense. i am talking retail where you put up 25k and you can day trade if you want. i think price is always important IB is .05 per share and speed trader is .039 per share for stocks but thats all i know. i am curious about the charting software's, if the system's crashes a lot, and account fees, and customer service help. i am really into having your money legally protected and not commingled. so anyone with experience with speed trader or light speed would be interesting to here from the most.
  7. rmorse

    rmorse Sponsor

    When your calculating fees, make sure your comparing the same service. Either both smart routing or both DMA. Also, do the math. If you have a small account and don't trade actively, how much money per year are we talking about? Maybe price is not the most important feature for you, but the other stuff your paying for with your commissions.

    I asked about your definition of "retail", because here on ET everyone has a different one. The size of the account is normally not a determining factor as to the classification retail. Any non broker dealer account in the name of a person, is a retail account. You can have an institutional that has $25K because it's in the name of an LLC or LP. You can have a retail account with $500M in a person's name.
  8. def

    def Sponsor

    actually if you are going to compare fees, you should compare apples to apples and look at cost+ at IB which starts at .0035 per share and slides down +/- ECN fees/rebates etc.

    Regardless, you shouldn't be fixated on price. Execution quality is arguably more important.
  9. i don't disagree execution is number one with me. any firm i sign up with i would only do with full rebates. also commission is important to me too. i don't need to give away money if i don't have too. IB is .05 and the other firm is .039 that i know. If IB gave me that rate there would be no question i would say IB. After saying all that i don't have goals of trading a million shares a month anymore. i feel however if i trade 100k a month volume i am giving away $1100. i have a evolved i don't want to trade everyday. i want a style that i plan out my spots. i been around long enough to know there is always money to be made if you don't need to make money.
  10. def

    def Sponsor

    Cost plus, see the links. Starting at .0035 per share.




    Cost Plus
    Volume (per month)1 IB Commission per Share
    US Stocks,
    <=300,000 Shares USD0.0035
    300,001-3,000,000 Shares USD0.002
    3,000,001-20,000,000 Shares USD0.0015
    20,000,001-100,000,000 Shares USD0.001
    >100,000,000 Shares USD0.0005
    #10     May 4, 2012