Comission and Bullet Rates

A 2/10 cent savings may mean the word to a guy eeking out a K or two a month to feed his family. But then again, maybe that guy should find a better paying job.
 
Quote from JK9:




Ticker,

If you think the phrase "you get what you pay for" doesn't apply to trading stocks then you've obviously never:

-> traded with slow-ass software,
-> had a firm shut down on you,
-> experienced persistent busy signals and hold time at "trade support"
-> had 3-4 day turnarounds for messages left with management,
-> worked at an undercapitalized firm,
-> not had access to (profitable) proprietary software tools and training
-> been limited by 4-1 buying power.

Technology and services that offer real trading advantages are very expensive. Being without these advantages can be even more expensive--for the trader that is.

It's a brutal cut-throat market out there and saving 1/10-2/10 cent on commissions is not going to make you more money in the long run. Only better ideas, technology, and education can do that. ...and today's low cost providers (Andover, IB, et al) are simply NOT providing these things.
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I've been in the business for quite some time. I understand where you are coming from, but it is a TRADERS MARKET. If your well capitalized you can make your own deal with fantastic software support etc..

Brokers are starving for traders. They will take most deals if the trader is persistent.
 
Quote from kelly74:

A 2/10 cent savings may mean the word to a guy eeking out a K or two a month to feed his family. But then again, maybe that guy should find a better paying job.
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2/10 can translate into 6 figures a year.
 
i think bright/echo gives you around 2.5 cents/share

while lynx can rip you off as high as 4.0! cents per share,
they see it as the tuition you should pay to learn.
oh and dont forget their minimum of 500 shares
per bullet. so if you are new to trading, good luck
trading there. they will win most of the time, like
vegas while you wont. period.

when you interview at these firms ask if they have
any minimums, if they do go elsewhere. there are 1000
daytrading firms out there, most have NO minimums.
why should beginners pay for 500 share bulelts when
they should only trade at most 200 shares while learning.
no common sense there.

mm
 
Bright just lowered their bullet rates to 1.5 cents per share, 500 share minimum. For new traders, they can use the older version and pay 2.5 cents, 100 share minimum. BTW, the new version of Redi (TIBCO) will soon along us instant access to bullets right form the montage. Also the new basket feature allows us to enter a hundred stocks in a few seconds, the cancels are just as fast. This is great for enveloping.
 
Quote from Jack Cunningham:

Bright just lowered their bullet rates to 1.5 cents per share, 500 share minimum. For new traders, they can use the older version and pay 2.5 cents, 100 share minimum. BTW, the new version of Redi (TIBCO) will soon along us instant access to bullets right form the montage. Also the new basket feature allows us to enter a hundred stocks in a few seconds, the cancels are just as fast. This is great for enveloping.
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Hmmmm,

nice...

nitro
 
Noticed some traders are paying fairly low price cap or ticket rate. Is this commonly offered with the per share brokers?

My current rate schedule is per share, and includes all fees except SEC. No ECN fees, and no credits for adding liquidity which is fine with me since I'm not a rebate trader. I'm paying $.007 with a cap of $25 bux which only applies to listed stock. No cap on the OTC stuff. I frequently break up my trades anyway into small enough pieces that the cap isn't invoked, but on occassion I do trade 5 to 9K at a pop and pay the 25 bux.

Are there better cap deals out there for a trader with a per share rate in the 1 to 2 million share a month range? Obviously some are paying less, but their volume is significantly increased over mine.
 
Quote from bro59:

Noticed some traders are paying fairly low price cap or ticket rate. Is this commonly offered with the per share brokers?

My current rate schedule is per share, and includes all fees except SEC. No ECN fees, and no credits for adding liquidity which is fine with me since I'm not a rebate trader. I'm paying $.007 with a cap of $25 bux which only applies to listed stock. No cap on the OTC stuff. I frequently break up my trades anyway into small enough pieces that the cap isn't invoked, but on occassion I do trade 5 to 9K at a pop and pay the 25 bux.

Are there better cap deals out there for a trader with a per share rate in the 1 to 2 million share a month range? Obviously some are paying less, but their volume is significantly increased over mine.
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Look at the pointdirex elitetrader's special. They are offering .005 per share with a 9.99 max. Also their automated instant execution bullets within the software are .0075.

They are also releasing Platinum 6.0 with a full Charting and Technical Analysis product sometime next week (second upgrade within 3 months). Might also want to look into that.

http://www.pointdirex.com/live/en/ns/html/welcome_elitetrader.htm
 
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