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commission rates for volume trader
- Thread starter NYSEscalpa
- Start date
eric i thought nyse has no ecn fees so if bright is charging .075 or so for all in less than 2k shares they're killing it as they're pocketing the whole.075 and if sommebody does naz and provides liquidity brights killing it to no end.like you said anyones a fool not to have a base rate plus or minus ecn's
Quote from joeyata1:
eric i thought nyse has no ecn fees so if bright is charging .075 or so for all in less than 2k shares they're killing it as they're pocketing the whole.075 and if sommebody does naz and provides liquidity brights killing it to no end.like you said anyones a fool not to have a base rate plus or minus ecn's
people do use isld and arca for nyse. but i gotta say .75 cents is being raped. if people are paying that much these days then they deserve to wash out of the biz. but having said that, i doubt very seriously that bright charges that much to anyone doing any kind of volume.
We simply offer alternatives to traders based on their trading styles and trading business model. If you trade a lot, then you get your rate (for example .5 or so), minus .2 if you add liquidity, plus.3 if you take liquidity. The rate then would be from .3 up, and the trader decides. The whole idea is to tailor the whole process to the traders style of trading, volume, markets traded, use of capital, business model, etc.
There are always better "deals" (in one aspect or another)- but when you check all the variables, we are very competitive.
Just clarifying...
All the best!!
Don
There are always better "deals" (in one aspect or another)- but when you check all the variables, we are very competitive.
Just clarifying...
All the best!!
Don
Why hassle with all this nonsense???? Trade futures and options and fuck the ECN and DOT fees. Equities had died long ago. Move on to better vehicles.
Quote from AnonymousTrader:
I have to disagree completely. What you have written makes little sense
Thin margins does mean the company is in a bad situation. It makesa company to be a price leader. Look at Dell and Wal-Mart.
Saying that you should be paying no less that 0.005 a share is the same thing as saying you should not be paying less than $2,000 for a computer. So, Dell's PC's at 600 means that Dell is going out of business and will not live up its end of the bargain. Dell's margins are ultra small - volume makes it up.
What you have said is a justification of people who can't compete with the likesof Dell and Wal-Mart. And we know where they ended up.
Charging higher rates may justify extraordinary software, extraordinary training and possibly extraordinary frindge benefits that are priced in. It does not justify the companies making a large margin. A company that charges half a cent a share is getting a lion's share - and the higher the commissions, the more difficult it is for the trader to make money, especially in today's market environment.
It is true, that for some extra-ordinary traders (those who do not trade on order-flow and the like), that take big swinging positions and make a lot of money - yes - a few $1,000.00 will not matter. They want to be with a well capitalized firm. For that, however, they can trade thourgh Goldman Sachs, or Merryl.
Most traders, however, do not kid yourselves, make much less than your stated 200k. They make between 40 and 100k, if they do make it. And for someone who makes 50k a month a few thousand a month here and there is a difference between being able to make rent and take a Hawaiian vacation.
Moreover, your reasons behind the demise of worldco is completely wrong. Worldco never charged low commissions by far! They're demise is attributed irresponsible risk control, irresponsible expansion, balooning overhead and the crookedness of management as a whole. Worldco took on people, they lost more that what they put in (5k in - 30k losses), let those people go, and then after the tradersw went through other firms (like Andover, Genesis, Hold), took them back and they lost 30k more. This is not a first instance either!
Moreover - it has to do with insane leverage. I guy with less than a poor track record will come in and get 100:1 leverage and loose it.
I would rather watch out for companies who offer insane leverages to almost anyone - that can tip you off that there may be a problem. Andover, before being bought did that - to get more traders to increase their volume to make their business more attractive to Assent. But that is a separate story.
Paying no less that 0.005 commission is ridicilous. Finding a solid firm is important. Good luck!
What a well written and accurate post.
Quote from SitrusTrader:
Yes, but how can you tell whether or not a company is solid?
By looking at the balance sheets prior to putting you money up. If they don't show you, then run away.
Some detractors on the board take offense, and say that I am "pounding the same drum" - but as a former Public Accountant, and President of my own management firm, I tell clients in every business the same thing.
Serious traders will sit down with the firm Principals, and discuss their needs, their history, and all aspects of their trading business. Rates vary somewhat, BP varies a lot, and all in all, the traders bottom line is what counts, and is what makes a Company strong and long lasting. A firm cannot do well if their traders don't prosper.
FWIW,
Don