Comission and Bullet Rates

[felichka]

Nitro, on that site I can see 0.005 per share and 2 cents per bullet, how come that you pay 0.0075 and 1.5 ?

 

[nitro]

Quote from felichka:

Nitro, on that site I can see 0.005 per share and 2 cents per bullet, how come that you pay 0.0075 and 1.5 ?

It is not an advertised rate.

Hint: Bargain...

nitro

 

[calibertrader]

Quote from felichka:

Nitro, on that site I can see 0.005 per share and 2 cents per bullet, how come that you pay 0.0075 and 1.5 ?

There is an * next to the rate. When you read the fine print, it tells you that ECN's, and other fee's apply. Plus there are minimums transaction costs, so your actual cost is more then 50% higher then the rate being displayed in big letters.

 

[felichka]

What bargain is this if you pay per share higher than they want ?

 

[fatman]

Quote from TickerWatcher:

If you really look around you can get sub 1/2 penny with volume requirements of 10K per day.

If you have your own capital anyone can get that rate.

Well, please tell me where to start....I need to get my costs lower. I currently pay between .008 and .01 depending on my monthy volume.

 

[calibertrader]

Quote from felichka:

What bargain is this if you pay per share higher than they want ?

That's the point that I try to make when people on the site post these .005 rates, that's just the starting rate, then you have to take into account software/hardware fee's, ECN fee's, minimum charges, etc... That's why a 1 cent per share rate at a prop firm, with everything included, plus the potential for reduction with volume increases is better then some of these .005 advertisements.

It's like a car starting at 25K, when you're done with the options, it's more like 32K.

 

[fatman]

Quote from calibertrader:



You're talking about guys doing 150K - 200K a day. It can be slightly less, but it depends on how aggressive they want to be.

Newbies pay around 1 cent a share for NYSE in my group. Certain NASDAQ Exchanges are a bit more expensive.

what styles of trading do you train people in? And what NYSE stocks do your guys trade?

 

[TickerWatcher]

To let you know I don't work for the firm, but here is what I trade at (remote).

Yes SIPC
Regular 4 to 1 intraday 2 to 1 overnight (regular retail account)
Ecns are extra
Base is $0.0035 per share
Bullets are $.015 per share
Software is free, but I do pay $100 per month for the VPN
Charting is poor so I use another platform (my execution platform and charting do link to each other )
No billable orders...they have their own dot interface (yes they do have NX)

I have used redi plus, realtick, gr8trade, tradecast, watcher and cybertrader. None worked as well as the platform I'm currently using.

 

[calibertrader]

Quote from fatman:



what styles of trading do you train people in? And what NYSE stocks do your guys trade?

We are tape readers and technical analysts. PM me for more info.

 

[TickerWatcher]

I forgot to add I only trade listed issues, but I do trade with ecns.

With sec I average about .005.