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Hello (awesome) Bear Bull Traders! As one of your newest lifetime members, I'm in the process of shifting my $50K trading account into the best possible broker for me and would love to obtain advice on what home base should be for my trading account! Reading in this forum posts such as this post, I was saddened to hear that the Interactive Brokers usually very reasonable commission can easily double due to various 'fees' that IB needs to pay its partners to route your order. (I currently have an IB account but not I'm not so sure if it's optimal for me) I understand that IB has fixed and tiered pricing structure, somewhat making the decision more complex... Could you recommend the best between the three given my trading pattern: - I intend to invest mostly in stocks between $5 to $75 with the 'sweet spot' around $35. - I'll be staying away from low float < $10 stocks until I'm consistently profitable with mid-float stocks. - I expect most transactions will be around $20K-$40K so around 1,000 to 3,000 shares per transaction. - To start I'll probably do about 5-10 transaction a day every day but I also want to try my hand at semi-automated scraping so that might go up to 20-40 trades per day. Which of the three do you think is best for me? (SpeedTrader, CenterPoint securities, IB fixed, IB tiered) Thanks for the awesomeness! Jean-Pierre
Hello all, as many of you may or may not have realized, CMEG has decided to place a significant increase on their ECN fees. It's come to a point where I'm paying double the amount of commissions in ECN fees and I'm becoming pretty frustrated with it. I emailed back and forth with CMEG to try and negotiate a new fee structure as some of you suggested but they continue to tell me that I should speak with the broker/clearing firm for my account and I'm unsure who that is or where to find them. I think it may be Interactive Brokers but they are just one firm on a whole list of clearing firms they retain. If anyone could help by pointing us in the right direction, or maybe even just sharing your story, then maybe myself and a few others could benefit from it.