Bid is the highest price traders are willing to pay.
Ask is the lowest price traders are willing to accept for this security.
Bid size and Ask size are the number of shares being offered at the Ask and Bid prices, in board lots of 100 (for stocks more than $1)
Mark Price is equal to the Last price unless Ask price is less than the Last price or the Bid price is greater than the Last price.
Avoiding fees on Questrade
For example, I sold 5658 shares and was charged $29.75 commission. $19.803 of that could have been ECN fee. Max commission $9.95 + $19.80 = $29.75 Questrade
Buy and Sell $0.01/share (min. $4.95 to max. $9.95)
ECN fee $0.0035/share (or $0.0008/share if stock value is less than $1)
ECN fees are charged when removing liquidity from the market. It can be avoided by selling in standard sized lots and by avoiding Market orders (Choose limit instead). A standard lot is 100 shares.
Electronic communication networks are intermediaries that connect brokers to exchange markets
Additional examples of 'removing liquidity':
- Buy and cover orders where the limit price is equal to or greater than the ask price
- Sell and short orders where the limit price is equal to or less than the bid price
- Executed stop orders
- Executed stop-limit orders where the limit order is immediately executable
- Any order with special restrictions, such as AON (all or none)
- Any order executed in the pre- or after-market
- Odd lot orders can trigger an ECN fee, regardless of the order type and/or order duration used
- Trades executed at market open or market close
IBKR, Qtrade and TD don't seem to have surprise fees. It seems more worthwhile to use TD when making a purchase of more than 2000 shares to make it worthwhile (9.99 + 9.99 = 19.98) for entering and exiting a position.
Even with a positive news the stock may fall, especially at market open. Avoid market open as it's more volatile.