Why I Happily Choose to Pay Stock Trading Commissions (Best Broker Platform)

[@amitkulkarni11]

Will direct access reroute your order for example if I want to buy 1000 share of X at 30 on NSDAQ and if only 500 are available on NSDAQ and 500 on NYSE at 30 dollar will my order fill completely or partially.

[@claytrader]

Yeah, it'll do whatever needs to be done to get you shares at the price you want them.

[@Neo300002]

Great video! Is Lightspeed super fast with stock options as well?

[@claytrader]

Yes it is!

[@zekksmarquise]

Completely agree with this video, I have two brokers...one dma and the other CFD. When I enter the same trade through their platforms. The spread difference is so clear .

[@claytrader]

Cheers. Thanks for the confirmation.

[@BrayanMartinez-on3zm]

Hi Clay. I have a question. E-trade allow you to choose the route. Example: they have NSDQ, ARCA and NYSE, they allow you to choose one of these three. Also they have auto-routing. Are the first three direct access? Thanks Clay.

[@claytrader]

eTrade is not direct access.

[@georgek.7875]

Hi Clay, just wanted to ask what platform are you using for day trading? And also what do you use as indicators/charts? I live in Canada and I heard that most people use Td waterhouse which is the Canadian version ot TD Ameritrade. Am I able to use what you are using? I don't think Td waterhouse has a direct access broker.

[@claytrader]

Here you go George claytrader.com/resources/

[@darrenrafel9464]

How is TradeStation?? They are $0 commissions...I wanted Lightspeed but they said they don't have bracket orders and I want to be able to input stop orders with a .01 profit exit.

[@claytrader]

I've never used Tradestation.

[@AM-oq6nj]

Not sure if you will see this on an old video. If you enable Direct Access Trading in the ToS platform, how does it compare to platforms like Lightspeed?

[@claytrader]

Still slower....

[@drakejames1867]

Most brokers don't tell you whether or not the are direct access. Would it be safe to assume from your video that direct access brokers are the ones that charge commissions?

[@claytrader]

Yes they do.

[@jasonshimkus6139]

2 questions sir. What are you using for your direct access platform? And does that platform offer options trading with the same speed in contract fills?

[@claytrader]

Here ya go Jason claytrader.com/resources/ (and yes, direct access will be "fast" no matter what you're trading)

[@jasonshimkus6139]

@@claytrader thank you sir!

[@claytrader]

you're welcome!

[@Coliekokker]

@@claytrader any good trading platforms for Europeans? Webull has high international withdrawal and deposit fees.

[@claytrader]

Interactive Brokers

[@javiertascon9191]

Hi Clay. Good Video. What about the cash after you open and close a position. In Both system (Brokers and Direct Access) let to use it in the same day?. Thanks.

[@claytrader]

If you have a margin account, then yes. If you have a cash account, then you'd need to let the money "settle".

[@trillionairecapitalist4905]

I just wanna ask if IBKR Pro allows to buy just one share? Or is 100 shares the mininum for an order to take place?

[@claytrader]

I don't know. You'd have to ask them.

[@lakshitlohat572]

Which one is the best intraday direct access broker... You told about Lightspeed nd Webull on your website.## used by you for intraday trading.. Tc... Tf..

[@claytrader]

That's all a matter of opinion.

[@rakeshrakesh0729]

Hey Clay, Great resource for a day trader! I am a new-bee! just trying to get my head around this. @6.36 in the video_How did you sell even before you bought the shares. What it takes you to teach me exactly what you do? Thanks man. Looking forward for your reply.

[@claytrader]

I was "shorting". More here claytrader.com/videos/shorting-going-short/

[@laxide13]

how are u profitable scalping with high comissions?

[@claytrader]

My commissions are not high.

[@Ezel21love]

I am with Lightspeed, made 1K and they they took around $700 commotions. Net P&L 331! I am not sure which market I nee to use ARCA or LSPT, could you explain those in a video ?

[@claytrader]

You are doing something way wrong then! Might want to change to "per trade" and not "per share".

[@Digitalgems9000]

penny stocks and you had per share set in lightspeed maybe? lol

[@Digitalgems9000]

@@claytrader yeah was thinking that haha

[@cjh768]

Thanks for the information. I have 2 questions. 1. What platform do you use? 2. What would be the best simulator or demo trade app or software before we jump into real stock market? I am very new the this industry and like to learn

[@claytrader]

Here you go Frank claytrader.com/resources/

[@somhalder2973]

Hi Clay, so you don't have to reserve shares to short from Lightspeed ?

[@claytrader]

Depends on the ticker. Some you might.

[@sallyyoung7543]

Do you have to pay a monthly fee in order to use their platform?

[@claytrader]

Nope.

[@claytrader]

MB - I have no idea what you're talking about.

[@claytrader]

right... "depending on".... you made it sound in your original comment that it was some kind of "universal rule"... which it is not per your own admission... I've been using Lightspeed for years, I have no idea what other "packages" they're offering. I use what works for me.

[@claytrader]

And I still have no idea what you mean by "per click".

[@mattsworld863]

what are your thoughts on a direct access broker that also offers free commissions (TradeStation)?

[@claytrader]

It's not free because they charge platform fees each and every month.

[@mattsworld863]

@@claytrader desktop platform is free now with trade station. That's why I've been testing it out. And coming from DAS I can say I do like their platform a lot, however their hotkeys are limited. Selling percentages of a position as an example

[@claytrader]

@@mattsworld863 interesting... there has got to be some "catch" somewhere... they gotta make money somehow.

[@mattsworld863]

@Minutia Group I don’t trade for a living and can sometimes go days without making a trade. I just didn’t feel the cost of das was worth it for the time I have to trade. I still trade with TradeStation and have zero issues with fills or execution. The one thing I do hate is the lack of percentage based hotkeys for taking partials.

[@adriandoe1090]

I was up really nice today on $ITCI. Then the midday parabolic came in. Took short pos. got stuck in the halt. Lost all gains and gave some. (I covered at the spike 2nd candle.) Then instead of shorting the fade (at 12pm+) as anticipated and planned, my brain was still clouded, took the trades badly long and short. Was up from nice green to bad red. I've been trading for almost 2 years and almost everyday is red day. November and December is my first green with some win streaks. But today is just demoralizing.

[@claytrader]

And yet you still haven't joined my community? Why?

[@Trumppower]

Is interactive Brokers direct acces? However im generally happy with them.

[@claytrader]

Yup, they sure are!

[@alimirza3442]

Hey clay, any suggestions on direct access brokers ...

[@claytrader]

Hi Ali, this should help claytrader.com/resources/

[@alimirza3442]

@@claytrader thank you ...

[@claytrader]

@@alimirza3442 you're welcome

[@ForgottenReels]

Good video topic Clay - Thanks

[@claytrader]

Glad you enjoyed it

[@johnstark9]

what is your opinion on Cobra trading?

[@claytrader]

I have no opinion. Never used them.

[@daifuruta581]

Thank you for tips. Yes, I registered interactive trade but I am not using it since I don't have cash in hand only choice that I have is rsp. or start from scratch really tiny amount of money. It is not worth doing it. I don't know another way to open margin account, who can lent me money to open.

[@claytrader]

You just select "margin" during the sign up process.

[@alferdauzer]

I tried Robinhood once to day trade and it was all I needed to know that it won't work for me. You can see the difference in time execution between 0 commissions and direct access brokers, even when you papertrade. I compared thinkorswim against DAS platform and ToS sometimes will take up to 20 seconds to fill the orders. It doesn't worth it.

[@8020Alive]

20 seconds? I use Speedtrader and TOS and have never had an order on TOS even with larger 10,000 unit qualities fill slower than 2 seconds

[@lombardo141]

If your order took 20 secs you probably where trying to buy a very illiquid stock

[@lombardo141]

@@MB-of1bk Yeah my strategy allows market orders because my first goal is to turn that trade into an all day hold. If I was a true scalper then a few cents count. Also with the free commissions if you place a limit order your orders can get skipped as TOS is looking for a good price to sell your orders to a market marker.

[@claytrader]

Thanks for sharing your thoughts Alfredo!

[@claytrader]

We've had members of our community compare TOS with the broker I use currently (Lightspeed) and there definitely is a slight delay. For most, it doesn't matter, but for me... I want to be operating at maximum efficiency.

[@rjpimprov]

For what it's worth...i just had a fiasco with TOS today...I guess their entire "ordering system" went down right at market out. Was trying to get into FB well after the crowd (the 6 min mark) and not only couldn't I fill, but I couldn't even cancel the order. It finally filled and I got out quick with minimal gain, but man it was stressful. I dont' think that it's a common issue (i've been trading for a while)

[@claytrader]

Thanks for sharing Ryan. TOS does have issues like that every now and then, but to be fair, that can happen to direct access brokers too.

[@williambocht6285]

Your scalping strategy is easily implemented on TD TOS... most of my trades are sub 10 second

[@claytrader]

Glad it works for you, but "10 seconds" is way too much time as far as I'm concerned, but hey, if it works for you... that's what matters.

[@williambocht6285]

ClayTrader I should clarify... it does not take 10 sec to place the order but the average times it takes for a pullback to fill me haha

[@claytrader]

@@williambocht6285 ah okay! thanks for clarification

[@FANGSTALKERNINJAMASTER99]

TD TOS has been garbage for me on market open. Can take 30sec to several minutes to get filled.

[@r.nithishkumar9427]

Is it possible to day trade in global markets from India?If yes....what is the best platform to trade?

[@claytrader]

Yes, you'd just need the right broker.

[@jacquelynwells8741]

Merry Christmas Clay! 🎅 I just watched your video where you did a trade and you are right, I blinked and I missed it! I caught the stop-loss part. I missed it! Wow Clay what is it going to take for you to train me how to trade? I want to do swing and day trading. I would also like to trade options and the Forex market. Please help me Clay!! Jacquelyn Wells Thank you for the introduction

[@claytrader]

Go here to learn Jacquelyn claytrader.com/takecontrol/ I look forward to working with you!

[@nightcatz0]

what are the other example of direct access broker beside lightspeed?

[@claytrader]

Run a Google on "direct access online brokers" and you'll get a variety.

[@corey5495]

Man I dont see a difference in my order execution from when I switched to free. I'm going to honest. I'm still profitable. Maybe the bs hasn't gotten to me yet, but I really havent seen a difference. Still hitting my goals.

[@claytrader]

And that's totally possible. My point was for "some" strategies, free isn't actually free because you might be missing out on opportunities.

[@corey5495]

You ever thought about funding a free commission account such as Td Ameritrade or Fidelity? Test it out and see if it saves you money? After all we are running a business Clay. Great video by the way, I just was speaking from experience since I actually switched over. I've saved so much since then!!

[@claytrader]

Thought about it? Yes. But I've decided, for now, not worth it. If it ain't broke, don't fix it.

[@FANGSTALKERNINJAMASTER99]

@@corey5495 I currently use TD's Thinkorswim and it is useless the first 10-15 minutes of market open

[@corey5495]

@@FANGSTALKERNINJAMASTER99 yeah that's happening to me too with the Corona virus outbreak. Techs aren't fixing issues due to lockdowns and it taking a while. I wrote this post a while ago. I haven't had a problem be for the outbreak

[@mikebazga7771]

Hey Clay love your videos Very informational.could you help me out? Does trade zero international offer direct access routing?how do you know which brokerage offers it?thanks

[@claytrader]

I'm not sure if they do. How to know? Give them a call :-)

[@MuhammadAbdullah-zj1ph]

Liked for honoring other's time, even though I'm a day trader

[@claytrader]

Cheers

[@zackaryliu]

I will change to TOS first , because I am new using the Robinhood now , it didn’t work well . Since TOS is free commission now , I like to try that first , if it doesn’t work out for me , I will change to lightspeed . Thank you !

[@claytrader]

Zack, well... hopefully if it doesn't' work for you it doesn't cost you too much money in discovering that.

[@LuisLopez-pr2pe]

Does that direct access broker offer paper trading?

[@claytrader]

The one I currently use, Lightspeed, has a 2 week demo/simulator account.

[@dago00]

Only 1 option and thats Interactive Brokers

[@claytrader]

I'm happy with Lightspeed.

[@claytrader]

@Minutia Group sure

[@weskunkel6715]

did you make money on ACB this morning

[@claytrader]

Hi Wes, if you want to "talk stocks/trading in general", that's the entire idea behind my private community here claytrader.com/team which you are welcomed to join.

[@boy_peeps]

thanks for dumbing this down.

[@claytrader]

You're welcome!

[@boy_peeps]

ClayTrader seems the only direct access broker that allows you to open an account with under 25k is TZ. What are your thoughts on TZ and do you recommend any others - if any - under same requirements (under 25k)?

[@dionysmedrano]

I'll try that after I'm above 25k and able to daytrade.

[@claytrader]

Cheers

[@jasonshimkus6139]

Use a cash account and just manage your actual trading amount. I keep a calculator by my PC for this reason. Once I'm under 40% of my account size, I do one last trade and I'm done for the day. I only trade power hour...maybe close to 11 depending what's happening on that particular day. Screw pdt. I average 5-10 trades a day, and I dont have to worry about the margin payback if I do make a bad mistake.

[@claytrader]

@@jasonshimkus6139 good points... another option is to do this claytrader.com/videos/how-to-get-started-day-trading-with-only-100-and-zero-pdt-rule/

[@janco_g]

Im paying $4 p/100 shares

[@claytrader]

Ouch

[@kylemiller4489]

LightSpeed

[@claytrader]

cheers!

[@aaronneville5786]

thanks for the video! im using robinhood..

[@claytrader]

Robinhood would never work for my style of trading, but if it works for you... great!

[@obamanizer1463]

Deceptive. Not round trip cost.

[@claytrader]

Thanks for the thoughts.

[@Digitalgems9000]

ok? so $3.5x 2 lol

[@Digitalgems9000]

so $7

[@lombardo141]

With your scalping strategy Clay you can’t afford to have free commissions.

[@claytrader]

Exactly

[@bargains8424]

this guy sells courses on how to day trade...but he is terrible at trading.. what a world we live in...

[@claytrader]

These results make me a "terrible trader"? claytrader.com/videos/20-winning-days-in-a-row-possible-stock-trading-101/

[@hornomat6099]

"THe best broker for the day trade". - "I am not telling the names". Are you kidding?

[@claytrader]

What?

[@hornomat6099]

@@claytrader 0.01 "who is the best broker, 028:" I'm no going to give you specific names". Anyway your content is very great, just a comment.

[@claytrader]

@@hornomat6099 thanks for watching

[@CareBearStareX]

Can you wear a shirt that has a collar? Make it look professional maybe....yea but what do I know.

[@claytrader]

I'm not a professional though, lol... I'm just a normal dude. Thanks for the feedback however.

[@georgetrader8005]

djnyc are you gay or a girl?

[@Putseller100]

Get a life! Who the hell cares about the shirt? What a loser

[@mikecook7760]

Mic gay Check