What is the scam with zero commission brokers?

Ah, that's where I got the idea.

 

if you're trading size, eg >1k shares then a direct-access broker & L2 are essential

if like me you trade piker size <200 shares then commissh free like fidelity or ameritrade etc is fine

 

I “ traded PTON at least 200 times using 200-600 shares to build size shorting the gap and churning. Fills from my direct broker took the offer while knight-citadel filled me $94.3x94.50 at $94.34 while direct took out $94.50. It’s all good!

 

Elaborate and assume we don't.

 

You can see based on the price of AAPL that this was written a few months ago.

 

The real scam here is Lightspeed. I do not recommend.

 

Charles Schwab became the 7th largest bank in the US!! While you wait for your trade to clear (I think 3 business days) the money is held in their bank. They loan out the money and make major profits from YOUR money. Just another avenue of income...Oh and while you wait to trade, your extra money in their bank is earning .01%...

 

So market orders are taking and limit orders are adding?

 

All market orders are clearly taking liquidity. A limit order where your buy price matches a sell order on the book or your sell order matches a buy order on the book, you are taking. If you get to that price first, you are adding.

 

So a limit order where there is a void of currently resting orders is adding, each other type of order is taking?