![]() ![]() ![]() ![]() Then again he also says Lightspeed uses direct market access and not payment for order flow, and we know that's not true either. Numerous youtube videos I've seen recommend against IB for scalping due to fills, including a video by warrior trading in 2019 where he talks about disastrous fills and why he will never use interactive brokers again - but if you go on his website to see the broker comparisons, and the part about payment for order flow and direct market access.the one he still has as his recommendation is IB. In fact someone told me Trading212 had better fills than IB for him - and Trading212 is like Robinhood but for the UK. In the UK they do not offer a lite and a pro service, there's just one package as far as I know, and I've been told it's not recommended for scalping strategies, and it's not because the program is written in Java (because then you could just use DasTrader with it and pay a bit more) but more to do with the executions. I've heard contradictory things for Interactive Brokers. I want (large-ish) orders to get filled and I want to be filled fast, repeatedly consistently, and for both market orders and limit orders of various types - even when the roof comes falling down or we're taking off.ĭespite their routing issue, is lightspeed still the best? And which route should I select to get the best? I might as well use a comission free broker then?ĭoes anyone have a broker that they would recommend even in highly volatile situations to execute your order in the fastest possible way, while still getting filled and without unnecessary or unbeneficial delays? What is the point of even setting up hotkeys for different exchanges? How is that direct market access? So I'm directing an order, and paying for that direct order, but instead they're routing it somewhere else, and I imagine introducing a delay, against directions and what I would have paid for. I take a look at their website and they now note this under the routing fees: I was led to believe that lightspeed with its direct market access was the best.īut I was checking the violations on Finra and came across this recently, from : I'm trying to research the best broker for the absolute fastest execution times and fills. DESPITE MISDIRECTING ITS CUSTOMERS' ORDERS, LIGHTSPEED STILL CHARGED ITS CUSTOMERS THE FEES FOR THE MARKET CENTERS THAT THEY HAD SELECTED, EVEN THOUGH LIGHTSPEED INCURRED LOWER FEES OR NO FEES AT ALL. LIGHTSPEED FAILED TODISCLOSE THE ROUTING BROKER'S INVOLVEMENT AND NEVER DISCLOSED TO ITS CUSTOMERS THAT IT ROUTED THEIR ORDERS INCONTRAVENTION OF THEIR DIRECTIONS. IN REALITY, LIGHTSPEED DISREGARDED MANY OF ITS CUSTOMERS' DIRECTIONS AND INSTEAD SENT THOSE ORDERS TO AN AFFILIATED BROKER-DEALER (THE "ROUTING BROKER"), WHICH ROUTED THE CUSTOMER ORDERS FOR EXECUTION AND GENERALLY CHARGED LIGHTSPEED NO OR LOW MARKET CENTER FEES. LIGHTSPEED TOLD ITS CUSTOMERS THEY COULD DIRECT THEIR ORDERS TO THE TRADING VENUES OF THEIR CHOICE AND THEY WOULD BE CHARGED THE MARKET CENTER FEES THAT LIGHTSPEED INCURRED IN EXECUTING THEIR ORDERS. THE COMMISSION FINDS THAT THESE PROCEEDINGS ARISE FROM THE MISREPRESENTATIONS AND OMISSIONS THAT, LIGHTSPEED TRADING,LLC, AN INTRODUCING BROKER, MADE TO ITS CUSTOMERS ABOUT HOW IT WOULD DIRECT THEIR ORDERS TO TRADE EQUITY SECURITIES AND THE FEES IT WOULD CHARGE FOR EXECUTING SUCH ORDERS ("MARKETCENTER FEES"). ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |