Alternatives to Interactive Brokers...?

[p2mat]

Hi Everyone,

I am looking at finalizing a esignal compatible broker and I am finding it hard to zero in on one. I know that most of you use IB; although this is a straight forward choice, I am unable to get my head around the fact that they charge $0.005 per every share, which brings to about 1 cent to purchase and sell a share. If I trade 5000 shares, I end up paying about $50 to IB… this is way too much compared to my current broker who charges me $7/trade. Is this high price worth it? I am specifically looking at day trading stocks ONLY and I see myself buying and selling atleast 20-30K shares a day. I know that speed and execution efficiency is everything here, but does paying such a high price make sense?

Are there any alternatives… MB trade charges $5/trade; I did come across some negative comments though. What are your experiences with the IB alternatives for Stocks ONLY.
Any comments/suggestions are highly appreciated.

Thanks,

[eostrom]

If you are looking for brokers that intigrate with eSignal I would suggest checking the following list. Hope this helps, thank you.

http://www.esignal.com/solutions/trading_integration.aspx

[p2mat]

Money Management Planner

Note: Money Management Strategies are not supported for TD Ameritrade, FXCM, Interactive Broker Financial Advisor (FA) Accounts, MB Trading, and TransAct due to API limitations. Broker APIs must provide average price calculations in order for MM Strategies to perform correctly. This calculation is not provided by the eSignal 11 application at this time (as of the eSignal 11.2 release).

I am considering Lightspeed brokers; do their APIs support Money management strategies?

thanks,