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Robert H

SpeedTrader Promotion: Discounted Commissions

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Elaine, the main different between IB fixed and tiered are:

Fixed: $1 minimum per ticket and includes SEC, FINRA, ECN fees

Tiered: $0.35 minimum per ticket and does not include the above fees

 

Most people have found tiered to be cheaper. Andrew, myself, Lee and many others are on tiered.

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Great thanks! That make sense.

 

The $0.35 minimum also looks better for new traders who take small size than $1 minimum.

 

Does SEC, FINRA, ECN fee differed a lot between brokers?

 

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I believe those 3 fees are set by outside parties, so they should be the same across brokers. Some brokers rebate you ECN fees if you add liquidity to the market (limit orders). Somebody correct me if I'm wrong.

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Hello Andrew or Chat room friends

 

I am repeating question from Gianluca73. Is it  $2.95+fees or only $2.95 straight? Please help. I am with IB now and easy to get $500/Mo commission.

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I am repeating question from Gianluca73. Is it  $2.95+fees or only $2.95 straight? Please help. I am with IB now and easy to get $500/Mo commission.

I am with SpeedTrader now and it is $2.95 plus fees. Below is an example of how the commission and fee for my trading day today.

 

SpeedTraders' Commission: $112.10 (38 tickets * $2.95)

 

ECN: $34.38

 

SEC: 3.60

 

FINRA: $1.29

 

Total Commission and Fees: $151.37

 

IB and SpeedTrader both have great commission rates.

 

Is hard for anyone to tell you this one is better than the other because only you can make that decision based on your own trading style and size. You will need to make the comparison of let's say a month of trading and match it up against both IB and SpeedTrader and see what comes out less expensive.

 

Check this post by Robert this might help detail out what is best for you.

 

https://forums.bearbulltraders.com/topic/425-commission-structures-comparison-ib-vs-speedtrader/

 

Carlos

 

 

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The $.002 applies to the shares traded OVER 300,000. So if you trade 350k, the first 300k are at .0035. The remaining 50k is at .002.

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When you get in with SpeedTrader make sure to update immediately as they give you a really old version to install and the desktop you develop in the sim will not work if you don't.

Also note that their included "sim paper account" will constantly default back to the real account in the montages.  While you can use it don't screw around.  Make trades like your account depends on it because you may look down and find it does.

 

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3 minutes ago, Dread7 said:

When you get in with SpeedTrader make sure to update immediately as they give you a really old version to install and the desktop you develop in the sim will not work if you don't.

Also note that their included "sim paper account" will constantly default back to the real account in the montages.  While you can use it don't screw around.  Make trades like your account depends on it because you may look down and find it does.

 

Can't you just change the default account in Global Order Templates (same as standard DAS)?

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I'm a bit confused on the '$ per trade' fee structure.  Is it not $ per ticket? Meaning a stop order that has not triggered is also charged for?

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13 hours ago, Robert H said:

Per trade means per ticket (execution). Unfilled orders don't count.

Great thanks Robert

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I see Two different Speedtrader on the websites :    Speedtrader and  Speedtrader Pro , can anyone tell what is the difference?

Thanks

 

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3 hours ago, planthevision said:

I see Two different Speedtrader on the websites :    Speedtrader and  Speedtrader Pro , can anyone tell what is the difference?

Thanks

 

SpeedTrader Pro is with DAS (your trading platform).

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