cyber trader at .06 is kicking there butt. ib hasn't lowered commissions in years now. they need to lower fast
Let's face it, on 1000 shares Cyber is $6 , and IB is $7.50. The diff gets even smaller as the shares increase. Above 2000-5000 shares Cyber might be a bit cheaper, except IB caps the commission at .2% of the stock value, a very big deal for low priced stock. Not too many of you trading 5000 GOOG. IB also eats the SEC fee, Cyber does not as far as I know. So no hystrionics about 'kickin butt'. just the facts mam.
Yeah, I know, 250. I was assuming an active trader would not be paying that, but if you don't do the 40,000 shares a month, thats yet another huge expense.
i enver buy 1k shares. i'll hit 100's and 200's all day long. scale in scale out so it is a big deal. yes the option price sucks ib much cheaper
joeyata don't take this wrong but you sound foolish. so why does ib need to lower prices? you just said there option and data charge are cheaper. the companies are not built on 100 share traders. so if you can't trade what they feel is a fare amount then they have ever right to pass cost onto you. i don't think 40,000 shares a month is asking alot.
thats why we have choice. i trade 40-50ks hares a day in 100 -200share increments thats why i use vendors like cyber and some cheaper. i use ib for options and futures. what i was saying is people will do what i'm doing and move to cyber for stocks. if one does even 500 share lots thats still anice difference. for 500 shares cyber is 3 bucks ib 5. do that 100 times a day thats a huge 200 bucks a day. to say that people avg 1-2k shares at a time is not true. the avg trader his 200-500 share lots. on a 50 buck stock thats 25k. why buy 1-2k and risk it all at once. why not scale
i first have to question how a person trades 50k a day on 100 share lots. i pay less then both firms and 1000 share lots are not that uncommon. i do that with stocks trading between 30 and 90 bucks. i do scale into a few 1000 shares but even with my cheap cost it could get alot cheaper. i been offered like $3 tickets if i was willing to buy a few 1000 lots at one time. its a business and i think firm cost is cheaper with bigger tickets. i also think they want to discourage smaller lot trading. maybe it sucks up more resource then the benefit of having that volume so they make it a higher ticket cost. hey your smart for running your business right but who is to say they aren't smart how they run there firm.
i know genesis and a few others offer .0025 so 1k would be 2.50. what i'm saying is if i scale in 200's and save a penny here and 2 cent there it comes out mcuh cheaper than doing 1000's . 2 cent less on 3 300 share orders is 18 buck savings over 1 900 share order 2 cent higher. i've done it bouth ways over 15 years and i like the scaling better. but hey if the 1ks' work for you great