Which platform/broker with small fees for autotrading

• 03/02/2022 at 7:42 PM #189210
  Cassoulet

  <p id=”tw-target-text” class=”tw-data-text tw-text-large tw-ta” dir=”ltr” data-placeholder=”Traduction”><span class=”Y2IQFc” lang=”en”>Good morning all,</span></p>
  <p class=”tw-data-text tw-text-large tw-ta” dir=”ltr” data-placeholder=”Traduction”><span class=”Y2IQFc” lang=”en”>I have been investing for almost 2 years, first with a portfolio at my bank, then I moved to a broker where I am more “active”. In short, I went from investor to trader, which is not always a success 🙂 ….; </span></p>
  <p class=”tw-data-text tw-text-large tw-ta” dir=”ltr” data-placeholder=”Traduction”><span class=”Y2IQFc” lang=”en”>Today I would like to do autotrading but I come up against a difficulty: </span></p>
  <p class=”tw-data-text tw-text-large tw-ta” dir=”ltr” data-placeholder=”Traduction”><span class=”Y2IQFc” lang=”en”>I have Prorealtime associated with “Interactive brokers” account: I can trade US stocks with limited fees but I cannot use proorder autotrading with Interactive brokers, too bad.</span></p>
  <p class=”tw-data-text tw-text-large tw-ta” dir=”ltr” data-placeholder=”Traduction”><span class=”Y2IQFc” lang=”en”>So I opened an “IG” account, I can use Prorealtime and proorder autotrading but IG only offers CFD shares with fees that are 25 euros for each transaction, 50 euros for a purchase / sale, so it is not compatible with my trading method which is closer to scalping (small amounts, small gains, repeated during the day,) </span></p>
  <span class=”Y2IQFc” lang=”en”>So my question is : Which broker / which interface would allow me to do this? </span>

  <span class=”Y2IQFc” lang=”en”>Thank you for your advice and responses. </span>

  <span class=”Y2IQFc” lang=”en”>Jean Paul Toulouse, france
  </span>

  

  Cassoulet

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  03/02/2022 at 7:45 PM #189211
  Cassoulet

  Good morning all,

  I have been investing for almost 2 years, first with a portfolio at my bank, then I moved to a broker where I am more “active”. In short, I went from investor to trader, which is not always a success 🙂 ….; Today I would like to do autotrading but I come up against a difficulty:
  I have Prorealtime associated with “Interactive brokers” account: I can trade US stocks with limited fees but I cannot use proorder autotrading with Interactive brokers, too bad
  So I opened an “IG” account, I can use Prorealtime and proorder autotrading but IG only offers CFD shares with fees that are 25 euros for each transaction, 50 euros for a purchase / sale, so it is not compatible with my trading method which is closer to scalping (small amounts, small gains, repeated during the day,)
  So my question is : Which broker / which interface would allow me to do this? 

  Thank you for your advice and responses. 

  Jean Paul Toulouse, france

  

  Cassoulet

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  03/02/2022 at 9:19 PM #189212
  GraHal

  Cassoulet wrote:

  IG only offers CFD shares with fees that are 25 euros for each transaction, 50 euros for a purchase / sale,

  Is above for the minimum Contract size that IG allows trading for? For example, is it for a 1 euro per point or 5 euros per point?

   

  

  GraHal

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  03/03/2022 at 5:00 AM #189217
  PeterSt

  Cassoulet wrote:

  So I opened an “IG” account, I can use Prorealtime and proorder autotrading but IG only offers CFD shares with fees that are 25 euros for each transaction, 50 euros for a purchase / sale,

   

  GraHal wrote:

  Is above for the minimum Contract size that IG allows trading for?

   

  Hello Jean Paul,

  What GraHal suggests (as how I interpret it), is that there’s no fixed prices for a trade, hence IG normally does not work with commission (Broker Fee) as IB does. IG (normally) works with spread as the means to make them rich 😉 and this is just linear to the amount of $ you trade with (read : have an order of 10000 and pay 25 – have an order of 1000 and pay 2.50).
  In other words … something seems not to be right …

  If you have an IB account, you can get a “sponsored account” at IG’s for free (but perform 4 trades per month with them). If you did not arrange for it like that (and notice that your local support must arrange it for you) then all bets are off, hence I would not know what kind of contract you obtained.

  On a not unimportant side note : it can well be that you pay for example 2x 4 euros on a full trade (in and out) with IB, which appears to cost you 25 on spread with IG. In other words, at first glance this is what the comparison could be for real, because indeed IG is way more expensive than IB.

  I recognise your literal show stopper on having made a working Strategy for IB, which does not work out at all on the costs at IG’s. Your Strategy just won’t work any more because it constantly loses pet trade on the costs. On that matter, my sincere advice could be to wait for Autotrading with IB. It will be there eventually.
  (PRT keeps on telling me this for so long now that it can’t take long any more 😉 ).

  Regards,
  Peter

  

  PeterSt

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  03/03/2022 at 11:18 PM #189292
  Cassoulet

  Hello Grahal, Peter,

  Thank you for taking the time to answer me.

  To be factual, here are my fees with each broker :

  IG : there is no spread costs, instead there is a fee :

  • for US stock : 2cents / action with a minimum of 15$, ( my mistake : 25$ is when you place the order by phone, I don’t know who does this anymore …)
  • for Euro stock : 0.05% with a minimum of 5$

  IB :

  . for US stock : 0.005$ / share with a minimum of 2$ -1$ rebate because I place the order with prorealtime = 1$ :

  . for Euro stock : 0.06% with a minimum of 3$ -1$ rebate because I place the order with prorealtime. = 2$

  Conclusion

  FOR US STOCK : IB IS THE CHEAPEST (1 to 5$ instead of 15$ for IG), for a trade value from 1000$ to 100 000$

  FOR EURO STOCK : IB or IG are quite the same 0.05% or 0.06% of the trade value

  The good thing with IB is the 0.005$ per share , so if I trade only 200 shares at 100$, the fee is only 1$ !!, or for  1000 shares at 100$, the fees are  5$, or 15$ with IG !

  With a fee per share, It means also It is better to select a stock with a higher value rather than trading penny stocks.

  FYI : I did not do a “sponsor” contract but two IG and IB independant contracts, I did not know it was feasible.

  In fact when I called few months ago PRT to do autotrading with Interactive brokers, it is also  what they told : it should be done for this year, let’s wait….

  Finally I had to do an excel sheet to  compare all fees because they depends either on the total value of the trade or on the quantity of shares.

  To be honest, to answer  your questions, I focused more on the fees of IB and IG, which I never really did before, and it is quite interesting.

  Conclusion :

  I will do autotrading with IG on euros stock with a limit of 10 000 euros (5$ fees)

  I will wait for IB to do autotrading on US stock

   

  Jean Paul

   

   

   

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  Cassoulet

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