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E*Trade Announces $0 Base Commissions for Online Stock, ETF, and Options Trades

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71–73 of 73 posts

Re: E*Trade Announces $0 Base Commissions for Online Stock, ETF, and Options Trades

#71
post #60

Earlier quoted context omitted.

if it makes you feel better, their API is text based and doesnt use message delimiters, so update TWS with great care, because a single new character off in any message will break your entire stream of data, order execution(and especially combo) entries, etc.. They also have some of the worst real time market data available (intraday), absolutely horrendous historical market data request rate limiting and more. Great…

Who do you recommend for an API for more than orders? Just yesterday I was looking at IBs data streams to figure out if they give me what I need without hitting rate limits.

depends - if you're doing aggressive intraday trading based on realtime data (tick or so), i can recommend many depending on need and cost, email me for details. As someone who used to trade for a living with a technical bent, Im passionate about it

if you just need reliable daily without 1440 minute bars going wack IB is probably ok

Re: E*Trade Announces $0 Base Commissions for Online Stock, ETF, and Options Trades

#72
post #27

Earlier quoted context omitted.

Id venture robinhood is getting a little too much credit here. The order this happened in was Interactive Brokers, Schwab, TD Ameritrade, E trade. They were obviously all prepared to do it in the event one of them went for it. Interactive Brokers did this more to give themselves a competitive edge over Schwab, TDA, and E Trade. That lasted about a day.

I don't think so. None of these brokers would have gone down this path without the pressure that zero fee brokers have been bringing. It was easy to call that ETrade was cornered to follow after Schwab announced last week [0]. And like I mentioned in another comment: just because Schwab and ETrade have better tooling and many more features that doesn't always matter for some. I still use tools outside of ETrade and f…

It was a race to the bottom, it may have taken longer, but they all would have been shaving a dollar off at a time till somebody hit zero.

Re: E*Trade Announces $0 Base Commissions for Online Stock, ETF, and Options Trades

#73
post #50
post #43

If you’re not paying for it, you’re the product. In this case they’re selling your order flow.

That only really matters if you only place market orders. And even then the routing may result in a better execution price than going straight to the exchange.

My understanding is it would be illegal if it didn't result in a better price.
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