Electronic Communication Network Fees.
I made my first trade... and it failed. It was UWTI and I knew Oil was holding and due for a reversal and I did it anyway. I was chomping at the bit to make a live trade, was at work, didn't have time to look at anything else. I'm retarded , whatever.
I got hit through Suretrader with an ECN fee totaling round-trip of $3.60 plus a .05 cent SEC fee and a .07 NASDAQ fee and then my commissions totaling 9.90. I cant remember what routes I picked to execute the trade through but is this common? How is this charged? How do I avoid getting nailed like that? Can I avoid it?
And anybody wondering, Suretrader mobile webpage works fine on Android.
And, does anybody know if the routing really matters? Because through Suretrader I can choose ones that cost anywhere from .001 per share to like .009 per share I think. Do they make that much of a difference that I shouldn't pick a cheaper one if I'm going to get nabbed with this fee all the time?
TDA is a flat 1.50 per lot on options or 7.50 for any number of shares. No added fees and you can select to send to "best" or you can select where it is routed to. But for our small trades "best" is best. Sometimes you can't afford cheap. How many contracts or shares were you putting through?
Sometimes you can't afford cheap. How many contracts or shares were you putting through?