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tomcho21
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Everything posted by tomcho21
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I am in Canada trading the TSX which is 0.01 bundled and .008 unbundled.
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I have a question/comment about trade commissions. I am currently using interactive brokers trading small cap stocks with prices averaging $1.00. Their commissions seemed low at $0.01 per share compared to other brokers but as my trade sizes increased they don’t seem like the best choice. I am thinking of switching to another broker that charges as flat rate (eg. $9.95 plus ECN fees) because there is such at large difference between the commissions. For an example if I use IB to trade 10,000 shares @ $1.00 my commission will be $100.00 but with a flat rate broker 10,000 shares @ $1.00 = $9.95 + $30(ECN fee $0.0037 * 10,000) =$39.95. That’s a big difference over the long run. I have no problem with IB and like using the TWS software but with that much of a difference I think a different broker will suit my needs. Just wondering what everyone’s thought on this are.