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Non-Tech : MB TRADING
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To: shag007 who wrote (990)9/4/1998 12:24:00 AM
From: Tanner  Read Replies (1) of 7382
 
Actually they don't just charge a flat rate for ISLD orders. If your order adds liquidity to the ISLD book, then they charge a $0.001 per share($1.00 per thousand)ISLD ECN fee. However, your order removes liquidity from the ISLD book, then they charge you $0.0025 per share ($2.50 per thousand) ISLD ECN Fee. The $0.015 per share charge ($15 per thousand) is if you access ISLD via SelectNet by preferencing the ISLD MarketMaker.

One other thing to consider... I think that CyberBroker requires their traders to execute more tickets than any other daytrading firm in order to have your commissions reduced. With MB, you have to trade 150 tickets in one month in order to have your commission fee reduced to $18.95 per ticket... With CyberBroker you have to do 500 tickets in one month. Other firms that I have mentioned in the past don't give any volume discounts, but start you out at a very low base commission (as low as $10 per ticket)... And to get to the coveted $14.95 commission that Mr. Berber keeps talking about, you have to do 4000 trades in one month... That's almost 200 tickets a day.

I will say that CyberBroker does offer the best selection of ECN's and they offer DIRECT order entry into the ATTAIN order book and DIRECT Instinet Access...

But for people who scalp for small gains, I think CyberBroker is just too expensive... My average commission with them for the past several months has been over $20.00 per ticket.
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