StockFetcher Forums · General Discussion · Another Broker Question<< >>Post Follow-up
newskate
29 posts
msg #27735
Ignore newskate
8/10/2003 1:46:01 PM

As I prepare to go live..... Some brokers have set fees of x per share, plus routing fees. They sometimes have a dozen options. Others list no routing fees nor options. I suspect they all have fees, some are just included. The question - how can some not let you pick, and others "make" you pick a routing? Some of this seems complicated - depending on NYSE or Nasdaq, etc. Is there a way to simplify this, or would I just pick a broker that doesn't give me a choice?

Stephen


bob79924
38 posts
msg #27738
Ignore bob79924
8/10/2003 2:07:34 PM

Newskate:
Regarding no fees: the broker makes money from kickbacks from the people thay rout the orders to. Being able to select routing may save you a few pennies, but how do you know the best place to rout an order?
I prefer a more simple solution: Ameritrade guarantees like 10 second execution and the pennies don't make that much difference to me. Actually, it's more like fractions of a cent. You'll come out farther ahead spending your time on stock picking using StockFetcher than you will worrying about routing.
Bob W.



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