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Comission and Bullet Rates
- Thread starter Hitnruntrader
- Start date
Help Please!
In order to get more margin(10 times of my equity), i took my series 7 and passed out, but now i find most prop trading firms commissions in range:
NYSE/AMEX - $0.01 per share, or less - No ticket charge!
NASDAQ - $0.01 per share, or less - No ticket charge
However i find ameritrade offering with $10.99 unlimited shares and no hidden ECN fees at all. BUT BIG problem is they offer only 4 times of equity. So please suggest a firm which charges only $10-11 on 10,000 shares by giving 10 times margin of my equity.
Reddy
In order to get more margin(10 times of my equity), i took my series 7 and passed out, but now i find most prop trading firms commissions in range:
NYSE/AMEX - $0.01 per share, or less - No ticket charge!
NASDAQ - $0.01 per share, or less - No ticket charge
However i find ameritrade offering with $10.99 unlimited shares and no hidden ECN fees at all. BUT BIG problem is they offer only 4 times of equity. So please suggest a firm which charges only $10-11 on 10,000 shares by giving 10 times margin of my equity.
Reddy
Quote from felichka:
I agree with you. My volume is around 50000 a day it has been for 2 years. I do understand what you are saying but you have to agree with me too that it is natural for me to look for lower rates not higher, right ? Being gross positive and calculating after commissions I assume that if they were lower I would profit, it is also would make me trade more and possibly loose but on commissions only.
Conclusion: lower your rates for your traders and they will increase the volume. The same thing feds doing with interest rates.
With steady volume for that long, every rate cut for you will make the difference, especially on 50K a day. We do lower the rates on our traders within the first month, and as they increase volume from then on. We definately understand the concept of lower rates, higher volume. I think we're prob one of the fairest commission shops as far as lowering our traders w/o having to be begged or asked. But as far as some of these crazy numbers, financially to be viable and phsychologically sane, it doesn't make sense for low volume traders, unless you have minimums built in for them.
Quote from LowCom:
Help Please!
In order to get more margin(10 times of my equity), i took my series 7 and passed out, but now i find most prop trading firms commissions in range:
NYSE/AMEX - $0.01 per share, or less - No ticket charge!
NASDAQ - $0.01 per share, or less - No ticket charge
However i find ameritrade offering with $10.99 unlimited shares and no hidden ECN fees at all. BUT BIG problem is they offer only 4 times of equity. So please suggest a firm which charges only $10-11 on 10,000 shares by giving 10 times margin of my equity.
Reddy
Not happening. If you're seriously going to be trading in 10,000 share blocks, or scaling in and out of 10,000 share positions, you can definately get under $5/1000 (.005) if your volume approaches over 150K a day. But then you still have to include ECN & SEC fee's.
Quote from trader963:
I got a response. it seems like I can get it
The question is, can we all get it, if we're doing 10K a day average? At this point, this group has been hyped up so much, they better give it to someone or Ticker will lose his credibility (no offense Ticker, just busting your chops).
Keeps us posted though trader963.
Quote from LowCom:
Please suggest me If i can get $10-11 on 10k shares,with 50k Average Day volume WITHOUT ECN FEES and NO HIDDEN CHARGES. As of now only (Ameritrade does with 4 times of margin equity). I need Only Prop firms who does that
Reddy.
Hmm...where have I heard this one before?
LowCom
Why don't you use datek or something? Have a backer and split the profits for the extra leverage. I'm not familiar with any BD the will do that with direct access.
Why don't you use datek or something? Have a backer and split the profits for the extra leverage. I'm not familiar with any BD the will do that with direct access.