Brec,
Actually, the "clearing cost" is "tricky". <g> Turns out that this isn't clearly explained on their website. The "clearing cost" is $0.0035 per share up to a maximum of $3.50 per fill. Further, I *believe* that the clearing cost is NOT charged on the first fill (could be wrong on this one). Therefore, if only one fill, then only one clearing cost of $3.50 (if at all).
Frankly, given my style of trading which involves find and trading volatile stocks, I'm constantly trying to find liquidity. I find it EXTREMELY difficult to get a complete fill on lower priced stocks. I've found the CyberLimit and and, I suspect, ARCA broadcast are almost worthless. By the time an opposite party (or parties) has been found, the price has moved to a new level. Usually, I get my fills through Island and sometimes I use CyberExchange ECN (order is broadcast, but ONLY to ECNs). I need to start working with INCA and find out what kind of fills I can get. Finding liquidity is the major issue, not commissions.
Disregarding costs and software, one thing I really like about CyberCorp is customer service. (I've heard that MBT customer service is very good as well.) After suffering with Datek for several months (voice dripping with scorn), CyberCorp is the proverbial breath of fresh air.
Regards,
Dan. |
