[butterfield]

Guys,

I need your help deciding which DMA broker to use. I have a daily strategy buying (or shorting) stocks at the close of the day to sell them (or buy them back) at the close of the next day. I have been using IB and have been happy with the system and their commissions ($0.005 per share), the problem is that lately I have been trading more low priced stocks so the $0.005 cost is starting to be very steep for me. IB does not have the pricing structures others like TD Ameritrade have where you can pay a fix price "per ticket" instead of "per share", I would rather pay $9.99 per ticket instead of $0.005 per share when trading $1 priced stocks.

So I am forced to change brokers... considering that I only buy and sell U.S. equities and don´t need fundamental research of sophisticated graphs... Which broker would you recommend me to use?

[PerqL8]

Take a look at TradeKing. It has some nice trader goodies.

[jdevron]

Have you tried speed trader? www.speedtrader.com
I have not used them before but they advertise 39c per 100 shares.

Hope this helps,
John

[Patuca]

check out just2trade.com ..unlimited shares 2.50 to buy 2.50 to sell for 5.00 RT

[hollisnan]

I have been using tradestation, which offers a choice of fixed commissions or a penny-a share plan. If I trade 100 shares of any stock, my commission is $1. That said, I do pay about $100 /month for their data feed (which is waived if you trade 5000 shares in any given month). Looks like you've got a couple of good suggestions to check out!

[mishnas]

Optionshouse.com. $3.95 flat rate, regardless of how many shares you buy or sell.

[hollisnan]

I've already chimed in on tradestation, but I'd feel remiss if I didn't say something to the effect that... Commissions and transactions costs are an important consideration in anyone's trading plan. BUT... they are not the ONLY consideration. What about reliable execution? Spreads? Slippage? Customer service? Resolution of complaints and discrepancies? These and other factors should be part of the decision tree. They can effect profitability as much as the commissions can.

[butterfield]

WOW, all these are great suggestions, I´ll get on it right away.

TradeKing
Just2Trade
OptionsHouse

I have already checked out tradestation and it looks good at first-glance but their "per share" comm is $0.006 which is higher than IB´s $0.005 (bundled) and their Flat-Fee is $6.99 but after the first 5,000 shares they charge $0.006 per share... being that my average ticket is around 10,000 (remember I trade low-priced stocks) it makes no sense, that is why I need to find a broker with good execution and with a flat-fee per ticket.

Any other recommendation?