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Shameless plug: I started a YouTube channel on this topic that covers a lot of commission free trading API's, including Alpaca (got featured in their docs), Rob
by larrykubin 6y ago
Shameless plug: I started a YouTube channel on this topic that covers a lot of commission free trading API's, including Alpaca (got featured in their docs), Robinhood Private API, TD Ameritrade, Tradier, and more. I'm seeing a huge growth in interest in developing automated trading bots and algos. With commissions dropping to zero, there is a huge wave of day/swing traders that want to learn Python, so am creating as many tutorials as possible.
https://youtube.com/parttimelarry https://youtube.com/parttimelarry
- melvinroest 6y agoWhat's the revenue model if commissions have dropped to zero? In other words, how can this be free? Are they making money via worse bid-ask spreads? I feel like a clueless person who lives in the year 2004, wondering why internet services are offered for free.
- alteria 6y agoExcellent explainer that's worth a read [1] and it's HN thread [2] tl;dr: Interest, payment for order flow, and securities lending (but mostly interest) [1] https://www.kalzumeus.com/2019/6/26/how-brokerages-make-money/ https://www.kalzumeus.com/2019/6/26/how-brokerages-make-mone... [2] https://news.ycombinator.com/item?id=20276551 https://news.ycombinator.com/item?id=20276551
- nimchimpsky 6y agoI'd imagine if you specify a limit or market price they just get a better price, and pocket the difference.
- teruakohatu 6y agoI have subscribed to your channel. Do you know of any services that allow non US residents to join? I am in New Zealand.
- phyalow 6y agoNZ doesnt have much going for it in terms of access to international equities. If you have over $10k USD, you can get an interactive brokers account, their API is a bit rubbish and commissions are normally around $6.00 USD flat. Otherwise Direct Broking via Jardens, commissions are c. $30 NZD per trade. Sharesies are apparently launching international equities later in the year, but they dont offer API access.
- teruakohatu 6y agoThanks for the response. I was hoping for API access. It is a pity that companies don't expand here when they open an AU branch. That said, I don't blame them as our regulators are very inflexible, I used to love ipredict until it was shutdown.
- phyalow 6y agoYeah, simply put New Zealand is far too small of an addressable market to really warrant much attention.
- smabie 6y ago~17 USD/trade? Jesus christ that's high..
- teruakohatu 6y agoThe joys of living in a small isolated country.
- gunn 6y agoThere's https://hellostake.com/ https://hellostake.com/ for NZ and AU. They don't have an API yet but would like to in the future - see comment here: https://old.reddit.com/r/PersonalFinanceNZ/comments/fnbmlx/x/fletz3i/ https://old.reddit.com/r/PersonalFinanceNZ/comments/fnbmlx/x... As mentioned, Sharesies plan to allow US market access: https://app.sharesies.nz/us-equities-register https://app.sharesies.nz/us-equities-register They do seem to have a private API at least: https://app.sharesies.nz/api/fund/list https://app.sharesies.nz/api/fund/list https://www.revolut.com/en-NZ https://www.revolut.com/en-NZ have plans to expand to NZ, I don't know much about their services though.
- proverbialbunny 6y agoFind any APIs that do smaller than 5 sec bars, or tick data that is more frequent than once every 5 seconds?