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Broad Street Trading
- Thread starter alfredmaul
- Start date
I am getting 10:1 leverage with Broad St....when I started I was at .0075 - now paying .004. That rate is worth it to me with the 100% intraday short list they have.
Quote from bloomberg:
I mean throw some names out there of some good ones as you say, I thought they all charged around the same, I called a few and if they don't charge high commissions then they're talking 25 or 50 % of your profit. Also some of them charge "platform fees"
Hey it's the Mayor!! Software is everywhere and a real cost.
Quote from JRooney:
I was told by the firm manager Tim that he takes the trades he recommends. He told me to come and watch what they do. I recently visited the Broad Street office and watched them 'trade' the open. He would not let me see him trade and got upset everytime I went behind him to see what he was doing. Tim called out many trades. I asked him if he was taking the trades himself. He said yes but would not show me any executions on his screen. When I asked why he can't show me that he is actually making the trades he turned red and told me that it's "proprietary information". I asked him his p&l (profit and loss) and after saying ummm for 30 seconds he said 1300. He is a liar. This firm is not willing to take the trades they themself recommend.
why would you expect someone let you see their logic???
Quote from bloomberg:
I mean throw some names out there of some good ones as you say, I thought they all charged around the same, I called a few and if they don't charge high commissions then they're talking 25 or 50 % of your profit. Also some of them charge "platform fees"
Echo, and Hold brothers. Holds payout is 99% Echo's is 100%.
Quote from saltycoot:
Echo, and Hold brothers. Holds payout is 99% Echo's is 100%.
I almost forgot, as if the high commissions weren't enough, some also REQUIRE you to take a trading course for 5 - 10k before trading.
Does Echo or Hold require this?
BTW Broadstreet is a decent firm, good educational structure and the guy that calls out trades scores some homeruns at times, he's wrong at times, but then again we all are. It's just that their commissions for rookies are through the roof, it's hard not to blow your account if you're payng 18 bucks round trip on a thousand shares. Scottrade is cheaper. Not to mention 250 a month on software plus other fees (ecn etc.). I know that this may be the norm for prop firms but dont they make more money in the long run if you DON'T blow your account?
Quote from bloomberg:
I almost forgot, as if the high commissions weren't enough, some also REQUIRE you to take a trading course for 5 - 10k before trading.
Does Echo or Hold require this?
BTW Broadstreet is a decent firm, good educational structure and the guy that calls out trades scores some homeruns at times, he's wrong at times, but then again we all are. It's just that their commissions for rookies are through the roof, it's hard not to blow your account if you're payng 18 bucks round trip on a thousand shares. Scottrade is cheaper. Not to mention 250 a month on software plus other fees (ecn etc.). I know that this may be the norm for prop firms but dont they make more money in the long run if you DON'T blow your account?
Erik Kolodny of "The Modern Stock Operator" calls out trades all day long on his Chat Room.. They do not even charge. He told me that he believes in the network theory and that his trading is not bigger than the market. More so, he said that even the most junior of traders who applied him or herself can point out a trade set up that he wouldn't have seen. Hence the favor is returned for the free access.
Quote from bloomberg:
I almost forgot, as if the high commissions weren't enough, some also REQUIRE you to take a trading course for 5 - 10k before trading.
Does Echo or Hold require this?
BTW Broadstreet is a decent firm, good educational structure and the guy that calls out trades scores some homeruns at times, he's wrong at times, but then again we all are. It's just that their commissions for rookies are through the roof, it's hard not to blow your account if you're payng 18 bucks round trip on a thousand shares. Scottrade is cheaper. Not to mention 250 a month on software plus other fees (ecn etc.). I know that this may be the norm for prop firms but dont they make more money in the long run if you DON'T blow your account?
I have to concur...Broad St is a decent firm..maybe a bit more expensive than some of the others... but they are absolutely top notch when you need to deal with problems and i never had issues with withdrawing funds. This is the last i will say about them since most of you will accuse me of being a shill...haha
Quote from saltycoot:
Echo does have a training program that cost 1000 min deposit is 2500. I know hold does have training at one of their New Jersey offices not sure if they charge for training.
How much does Echo charge per share? Is the training program required? I called them and they said more or less around .004 to .005 per share, and no training required. Not sure if they were being honest, they did require a series 7 which is fine with me. I found out he hard way how prop firms squeeze you for all you've got in commissions and other fees ....004 is good.