TFF wrote, "Am I reading your website correctly? You charge .0035 cents per share for orders above 1000 shares for CyberX?"
This brings up a further issue - I understand that the new "CyberExchange ECN" order entry method routes your order only to ECNs. Does it route it directly? Or does it route it using SelectNet?
If direct, this is good because it does not encur additional fees. If SelectNet, this is very negative and I'll won't use that method except in case of an emergency.
Also, I don't remember seeing these fees before. Assuming this is a new fee, this is troubling for three reasons:
- First, this makes CyberCorp less price competitive.
- Second, it increases the risk tremendously. This forces traders to trade less or increase their win/loss ratio.
- Third, and most importantly, it appears that CyberCorp is raising its rates without notifying its customers. I checked carefully and have seen no notice on this from CyberCorp. Cyber can set its rates anywhere it chooses, but it should at least let the customers know formally. Clear customer communication on this kind of issue is critical.
Regards,
Dan. |
