Any prop firms willing/able to compete?

[WinSum]

It's not really that great for newbies either. Newbies will tend to fall into Genesis' Level V category.

Traders in Level V category will be required to pay the $250/month software fee because they don't generate enough volume to have the software fee waived.

Quote from xbrxx:

The rate genisys is offering is hot for certain people. Like those starting off churning 100 share lots, then this is pretty low. No firm.. Hold, Bright, Echo, Assent would ever offer .0035 to some newbie. More like .008 or .009. So this is pretty damn low for the newbie. But if your doing 40k+ a day, you can get a rate better than Genisys.

xbrxx

 

[zdreg]

Quote from Doug Alkenbrack:

Genesis for both listed and OTC is much much cheaper than any pro firm out there, unless you do monster volume. I only do about 500k a month and this really is an amazing deal. I know bright is a penny a share for your first 1000 and .04 over 2000 and only .01 for nas. Echo offers the same deal I believe might be a little more expensive than Bright though. So anyway you look at it Genesis is about half and less that those two firms. I trade at a prop now and the fact they haven't offered me lower rates to even come close to Genesis is kind of an insult imo.

Time to move on.

you are joking . comparing echo to bright, comparison is like a 1 carat diamond to a .1 carat diamond. where did you get your information?

 

[xbrxx]

Quote from WinSum:

It's not really that great for newbies either. Newbies will tend to fall into Genesis' Level V category.

Traders in Level V category will be required to pay the $250/month software fee because they don't generate enough volume to have the software fee waived.

All prop firms nowadays have desk/software fees for newbies. Ranging from 100 to 350 bucks. And according to volume, you get some of your money back. But you typically start off with .008 or so.

Even if there is the software fee, Genisys is still cheaper. Heres an example. Lets say he trades 5k shares a day. At .008, every month he spends 800 bucks in commision.... assuming 100k shares a month. With genisys, it'll come out to be 350. Add the 250 dollar desk fee. 700 bucks, still cheaper than the other shops without desk fees.

Of course you wont have mentorship and all the crap. But this rate is pretty hard to beat for a newbie.

xbrxx

 

[traderob]

anyone have a link so I can check the site out.

 

[goodscalp]

www.gndt.com

 

[H2O]

Everybody is talking about a pro(p) deal here,but Genesis offers the same rates (with a $1,- minimum) for RETAIL traders as well. For people who have their reasons not to trade pro(p) this is certainly the best deal around.

I'm going to contact them and see if we can work things out...

 

[traderob]

thanks for the link. I think it says the platform is free of charge as well.
Looks like a good deal.

 

[KingMook]

I dont understand how companies can offer traders to trade for free and stay in business for long, Broadway did it once and look what happenned to them. Plus as understand they provide no BP.

 

[UMU]

Quote from realstockaddict:
And the ecn rebates are passed thru and whenever i trade nasdaq I only offer liquidity so my commissions are nearly free.

Hi, can you please explain how this is working.
I assumed the ECN add liquidity rebate works only as long as your order is not executed. But then I don't know what sense it makes. So I must be thinking in wrong direction...

 

[Ebo]

You get paid a rebate if you "add Liquidity", offer or bid and get executed.
You pay if you "remove" liquidity, hit the bid or take the offer.
Its simple. Some brokers pass this charge/rebate on , others do not.