Oh, also I trade remote from home so I have not desk fee. But anyone with a series 7 at a prop firm doing 50k a day is getting 0.005 or less...no doubt about that. The sterling Echo pro software which awesome is $350 a month. But for every 100K you get back 100 bucks.... so do 400K and the software/data feed is free.
Commission based on Volume
- Thread starter stockfrosty
- Start date
I don't know anyone getting anything less than 0.004. A fellow I know gets 0.004 but he does 1 million shares a day! Remember though that if you post bids and offers on Arca or Island and they get hit you actually make 0.002 per share. Some Nasdaq traders make a living earning these ECN "liquidity" rebates.
What are you paying for bullets?
I pay 0.015. And you? I find that biases me marginally to the long side... The short setup has to be nice for me to go short...but I usually find cause at least twice a day.
Just curious, are the per share commish rates being talked about here All Inclusive. Are you getting .005 or .0075 total, or are there ecn/sdot fees on top of that. I know I am probably paying way more than I should be and am just curious about what I should try to negotiate. I am trading about 30K shares a day, trading mainly nasdaq. Thanks
You guys might try doing a search on ET for commissions. It's been discussed in the past. If anything the rates should be better than in the past so you can keep that in mind. Some people get around or slightly below .003 (plus ecns/minus rebates obviously) but they do very large volume. You can always try negotiating as a group.
Here's something to think about:
SEC fees. When you trade a $100 stock, that adds 0.25 cents to your variable trading cost...ON EACH SIDE! (Yes, you only pay it when you sell, but for this argument I've divided it up in half.) Likewise, for a $50 stock, that's 0.125 per share.
For prop firms, it's very likely, that's not counted in any of the commissions quotes being discussed.... It remains amazing to me that firms like Interactive Brokers can charge 1/2 cent for shares above 500 in an order....and that's ALL IN,...i.e. SEC fees included.
SEC fees. When you trade a $100 stock, that adds 0.25 cents to your variable trading cost...ON EACH SIDE! (Yes, you only pay it when you sell, but for this argument I've divided it up in half.) Likewise, for a $50 stock, that's 0.125 per share.
For prop firms, it's very likely, that's not counted in any of the commissions quotes being discussed.... It remains amazing to me that firms like Interactive Brokers can charge 1/2 cent for shares above 500 in an order....and that's ALL IN,...i.e. SEC fees included.