Are these rates out of line?

D

deek

I am an experienced trader (5 years). I have been with the same firm all along. I know the firm is stable, reputable etc., however, I also think the rates being charged are way too high.
Is just about everyone getting less than 0.005 per share these days? I feel like I'm the only one left paying this high of a rate. What is considered the going rate for an experienced trader. I know volume is an issue. I trade in a group and we collectively do 5-6 million per month. What is a competitive rate???
 
Quote from deek:

I am an experienced trader (5 years). I have been with the same firm all along. I know the firm is stable, reputable etc., however, I also think the rates being charged are way too high.
Is just about everyone getting less than 0.005 per share these days? I feel like I'm the only one left paying this high of a rate. What is considered the going rate for an experienced trader. I know volume is an issue. I trade in a group and we collectively do 5-6 million per month. What is a competitive rate???
More...

Do you use leverage? Intraday = Overnight =

Basic style of trading?

Don
 
Quote from deek:

Intra day - momentum style trading. We don't take positions home overnight.
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All S7 licensed, 100% payout, NYSE (variable pricing for NASDAQ).

My friend Mr. Newbie is a bit low (although a couple of smaller firms do advertise that rate, but is it "all in"? Not generally). Commission rates bottomed out a couple of years ago, and there may be a few still holding on to those rates, but very few indeed.

With all the traders who have returned from the "super cheap" firms giving me data, I'm pretty sure that your initial pricing is more likely.

I can't quote here of course (no one should, to be legal anyway).

Feel free to call, number is on the website...mention this note.

All the best,

Don
 
Payout is 100%.

Don is right, its not "all in", 0.003 is just the commission you will have to pay for ECN fees (or take rebates) and other sec fees and so on.

I think Don offers one of the best "all in" rates, if you prefer this model I recommend Bright.
 
Quote from B-Freeze:

Don,

Does Bright offer trading in Nasdaq stocks? For some reason I thought only NYSE stocks were available.
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LOL, a long time misconception...we have always traded Naz stocks, just seems that most of our people have traded more NYSE historically. Especially with Pairs and other Arbs, we seem to be increasing the percentage of shares traded OTC.

Don
 
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