For month-to-date, year-to-date, and former 12-month intervals, customers can see precisely how a lot they paid in commissions, what number of trades received price enchancment, and the total worth improvement. Price enchancment means a purchase order was executed decrease than the best ask or a promote order was executed larger than one of the best bid at the time of the trade. Because this dealer has far more leverage at the negotiating desk. Time of day – The first 15 minutes of each trading day are statistically probably the most risky, meaning shares fluctuate the most throughout these times. Similarly, pre- and post-market hours have much wider spreads, together with far less liquidity, as compared to common market hours. Similarly, some on-line brokerages own and function a market maker.