Which broker is good for me?

Discussion in 'Retail Brokers' started by tonyzhou, Feb 2, 2010.

  1. Hi,

    I want to open a new account in a new broker with 250K (Currently with IB). I am trading low price stock (<$5) and I will scale in and out with each trade around $4000. I won't use margin, so I do not care borrowing interest rate. Turnover is around 2 weeks-4 weeks. Most of my trade is limit order. As so many brokers are there, what broker do you think is the best for me? Thank you.
  2. sjonas50


    I'm pretty new to trading, but have done a lot of research, and from everything I have read, either IB or MB Trading.

    I'm hardly the expert on this though.
  3. there is no reason to hold a balance of 250K with a broker if you are making 4k trades.

    you can employ the same strategy with a fraction of your buying power. why not use 225k in "laddered credit deposits" and keep 25k with IB to avoid PDT rules.. nothing wrong with using margin.
  4. l2tradr


    He's already with IB.

    OP, maybe you should have a look at some per-ticket firms out there
  5. if OP is trading less than 1000 shares.. IB is at the margin
  6. My total position is around 70% and in the extreme market condition, I will add to 100%. I do not use margin because 1) I need to pay interest 2) I am not comfortable to use high leverage, have bad memory on that

    My total position is around $200K, I still will use IB, just want to split fund because do not want to take risk because of 500K SPIC limit. $4000 is for each trade or average 2000 shares, I do not buy stocks at a time, but average my price through a few days.

    What is laddered credit deposits and per-ticket firms?
  7. Also , limit order at IB can get rebate. I did not find any other broker offer rebate.