Competitive Deal ?

A

astutej

I have spoke w Assent & EchoTrade was offered the following with a 20K deposit:

100% payout
50 to 1 Buying power
18 to 1 Overnight
.006 per share plus ECN fees

Is this a competitive deal for this deposit amount? If not, what is a more competitive deal for similar situation? Which firm would one recommend for someone who primarily trades NASDAQ stocks? All help is appreciated.


Thanks
:confused:
 
Sounds like a good enough deal, but I would think the amount of shares you plan to trade would be a larger factor than deposit amount.

Other charges to take into account?

Are you paying a desk or software fee?
What about clearing charges, are they included in the .006 or in addition to?
 
Not quite sure what going rates are. You can prolly do better on the base if you do a lot of Nasdaq, but if you do size then just go with a flat rate plus or minus fees. Depends on your style. Are you sure they offered that much overnight leverage? Seems quite high, and cuts into their BD margin. Good luck finding something that fits your style.
 
Quote from astutej:

I have spoke w Assent & EchoTrade was offered the following with a 20K deposit:

100% payout
50 to 1 Buying power
18 to 1 Overnight
.006 per share plus ECN fees

Is this a competitive deal for this deposit amount? If not, what is a more competitive deal for similar situation? Which firm would one recommend for someone who primarily trades NASDAQ stocks? All help is appreciated.


Thanks
:confused:
More...
Looks great to me. What per share rate are you getting?

nitro
 
He said .6 cents/share nitro. Competitive enough but it depends on your style.

I'm really amazed that they offered you 18:1 overnight. Anyone else care to comment on that kind of overnight leverage as it relates to other prop deals out there?
 
Quote from astutej:

I have spoke w Assent & EchoTrade was offered the following with a 20K deposit:

100% payout
50 to 1 Buying power
18 to 1 Overnight
.006 per share plus ECN fees

Is this a competitive deal for this deposit amount? If not, what is a more competitive deal for similar situation? Which firm would one recommend for someone who primarily trades NASDAQ stocks? All help is appreciated.


Thanks
:confused:
More...

Not bad for a newbie trader, but are you going to get any help to make money ? This is a far more important consideration.

However, even our newest traders pay only .4 for shares above 1,000 and never pay ECN fees...

If you're not new, and have been trading for some time, then a discussion might be appropriate.

As always, be sure to obtain copies of balance sheets of whichever portion of the firm you may decide to join. Never get involved in a "sub-llc" (of course).

Don
 
Quote from bro59:

You can prolly do better on the base if you do a lot of Nasdaq, but if you do size then just go with a flat rate plus or minus fees.




bro:

Are fees generally less for those who trade NASDAQ stocks? My own trading is 95% NASDAQ and I am in the process of choosing a prop right now.
More...
 
Quote from bruford90125:

Quote from bro59:

You can prolly do better on the base if you do a lot of Nasdaq, but if you do size then just go with a flat rate plus or minus fees.




bro:

Are fees generally less for those who trade NASDAQ stocks? My own trading is 95% NASDAQ and I am in the process of choosing a prop right now.
More...

Our fees are based on NYSE (for many reasons). If you're adding ECN fees, and you trade a lot of naz, you might want to keep looking around (find an "all in, no ECN" rate, or break out the "adding vs. taking" liquidity numbers. Still curious if you're new, or have a winning track record ?? Is your desire to trade nasdaq or to make money...not mutually exclusive (necessarily), but worthy of question.

Don
More...
 
Quote from Don Bright:

Our fees are based on NYSE (for many reasons). If you're adding ECN fees, and you trade a lot of naz, you might want to keep looking around (find an "all in, no ECN" rate, or break out the "adding vs. taking" liquidity numbers. Still curious if you're new, or have a winning track record ?? Is your desire to trade nasdaq or to make money...not mutually exclusive (necessarily), but worthy of question.

Don
More...


Don,

I am not the originator of this post, but I am looking to clear some things up. As for my desire to make money, I have over 6 years of profitable NASDAQ trading experience -- that's not to say that I mind you discouraging others from stealing my edge. I have private messaged you recently about Bright, my point here was to see if there is a general difference between Naz and listed pricing for props.

So my direct question for any prop firm members who may read this would then be:

Does per share pricing (after all ecn fees and SEC fees are added in )differ between Naz and listed trading at prop shops?
 
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