Fees for prop firm

T

thehomecenter

leaving IB to join prop firm.
The fees are:
.005 share
.003 ecn
$250 month for sterling
95% pay out
$5000 deposit

Is this the average or good deal or bad deal.
Thanks
 
Just curious...does the Sterling software provide futures quotes and is there an extra fee, for things like crude oil, natural gas and gold futures?
 
I do not know about the pricing for your question, I will ask. They are starting off at 10-1 buying power:

futures quotes and is there an extra fee, for things like crude oil, natural gas and gold futures?
 
Quote from Trader7793:

Just curious...does the Sterling software provide futures quotes and is there an extra fee, for things like crude oil, natural gas and gold futures?
More...

yes, they charge extra for their charts too
 
Quote from thehomecenter:

leaving IB to join prop firm.
The fees are:
.005 share
.003 ecn
$250 month for sterling
95% pay out
$5000 deposit

Is this the average or good deal or bad deal.
Thanks
More...

Home,

You are close, but you can probably get them to .004/share. $250 as long as it includes reasonable data feeds like NYSE, ARCA, NSDQ, indexes like INDU, NDX, COMPX, etc... and a reasonable news feed like DJ or Reuters. It sounds like news is extra if charts are. Normally they throw in a basic ESignal free.

95% should be 99%, really. Competitors are there, they make all their money off the small commish. ECN that is for taking liquidity, make sure you are KEEPING rebate. ARCA is .0023, NSDQ is .0020 and BRUT is .0025 for rebates, I think all are .003 for taking. Don't forget you are also going to be paying SEC fee. This usually amounts to about 1/3 of your ECN net (with rebates) fee for most traders. They should move you up quickly to 20-1, like after they see you trade for a week, two tops. 30 or 40 to 1 after first month. ASK about this.

Normally you need to be registered Series 7, 55, maybe 63 too for this type of deal. Is this the case?
 
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