Trade with ticket charge vs per share

Discussion in 'Retail Brokers' started by myoffices, Apr 17, 2002.

  1. I have been seeing the per share postings around the board and I wanted to find out what the benefits of the per share system vs the ticket charge and the transaction fee.

    Here is a sample :

    HRZG $0.0025 Per Share
    ISLD $1.00 Per Ticket
    ARCA $0.0075 Per Share
    GNET $0.00325 Per Share
    SOES $0.50 Per Ticket
    SELECTNET (Broadcast) plus mm or ecn cost $1.00 Per Ticket
    SELECTNET (preference) plus mm or ecn cost $1.00 Per Ticket
    SuperDOT $0.015 Per Share

    This is what we get at our place and I wanted to know what the other system benefits are in comparison. So far I have calculated that if you trade size like 1000-5000 shares the savings icould be enormous. What is the benefits of the per share system. vs the per ticket.
  2. The big benefit of per-share is that a beginner can start trading 100 share lots and not get creamed with $10-$15 ticket charges.

    $1 per ticket on ISLD? Does that mean if your 1000 share order is filled by 5 lots of 200, you pay $5 in ticket charges?

    Also, is there a base cents/share or ticket charge?
  3. $1 per ticket on island is complete bullshit. That's a total con. I'd stay away from anyone who charges that for Island, which is dirt cheap and rebates for + liquid.
  4. Its true some even charge no charge.

    Island (ISLD) NO CHARGE
    Selectnet (SNET) NO CHARGE
    SuperSoes .002 per share
    Archipelago (ARCA) .005 per share
    Attain (ATTN) .005 per share
    Brass Utility (BRUT) $4.00 per trade
    Bloomberg Trading (BTRD) .005 per share
    Instinet (INCA) .015 per share
    Nextrade (NTRD) .015 per share
    Spear Leeds (REDI) .015 per share
    Strike (STRK) .005 per share

    Some fees can't be waived however outside the known universe opportunity exists. It amazes me that the some think their way is the only way. The internet is full of offers and you just have to find them.
  5. I found the last one with no fees at trade portal. so you know I don't work with them. I can't see the benefits of the per share system when there is alternatives.

    Any comments
  6. alanm


    It depends on what and how you trade. My average trade size works out to just under 500 shares. It's not for lack of trying to trade more size, just the nature of my trades, which mostly add liquidity, relying on others to hit or take me. For me, a per-ticket shop would be terrible (unless it was less than $5/ticket, with no ECN fees :).

    A couple people remarked about the $1/ticket charge on Island. If a ticket is defined the way most people understand it, I don't get their argument. Unless you're always getting filled for just an odd-lot and then having to cancel/replace your order, $1/ticket seems like a steal for a retail broker.

    Of course, pro firms, some of whom have no ticket charges AND who rebate for Island liquidity will be able to beat this.
  7. No intra day trader can benefit from ticket charges . stick to cents per share.
  8. Posted this in another forum by accident-

    As for the $1 ISLD ticket charge - I assumed it was a buck in addition to whatever the normal ticket charge was - ie. $9.95 + $1.00 if you send an order at Island. I've seen that several times before, but I definitely have never before seen a broker who charges a buck for ISLD - can you tell me if they support 3 decimals, and hidden orders?