I was recently interested in seeing whether it was possible to increase the amount of API calls for the trading client, after receiving a response from support and referring me to this link, I learned about what flags a non-retail account.
Couple questions,
- Is the 0.4 cent/share fee negotiable? If users like myself are trading lower value stocks (lets say $1 - $20), this fee would essentially destroy any potential profit.
- If an account is flagged as non-retail, I am not seeing any info on what fees would be associated with this? I found this link for the Brokerage Fee Schedule.
- If flagged as non-retail, is the 0.4 cent/share fee automatically applied? even if the user wishes to stay under 200 calls/min?
- If flagged as non-retail, and the user does not use the elite smart router, do they still need to pay commissions (0 - 3% as specified in the fee schedule).
- Is there more concrete documentation on fees / any other relevant information for when an account IS flagged as non-retail?
My algo has no need for the elite smart router and I would like to avoid commissions if possible despite high amount of trades per day (still possible to keep under 200 calls / min, but would like to increase that if still able to avoid using the smart router).
Best,
Joseph