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Genesis Securities
- Thread starter trader111171
- Start date
Hi,
I saw the increase to .01 p/share on their site as well. I was seriously considering Genesis as my broker and a few weeks ago when I requested a demo of Laser (it took a few days to get a reply) I was quoted a software fee of $200 p/month. One-cent commissions and $200 software fee doesn't seem cheapest on the street to me anymore.
I demo'd laser for a few days solid, and in general, I like it. It is very robust and customizable as far as order routing options are concerned. In fact, it is rather customizable all the way around. And from what I hear Genesis's execution speeds are excellent. The charting was not really up to par with what I am used to though. And, at least in the demo, I was unable to the software when the market is closed. Some days I like to go in and look at the charts when things are quite and not being able to do that is a drag.
I used to frequently trade the ES and used third-party software for realtime data and charts and custom scripting capabilities. For the software and data it is in the same $$ neighborhood as what Genesis is charging for Laser. I decided to pick a broker offering half the commission rate on >500 shares and just pay for the outside software and integrate the order entry. And I make up that $200 with the lower commissions really quickly.
Maybe I could have called and wheeled and dealed into the same or a little better commission rate, but whatever, I asked and that is what they told me. I am not looking to shop for brokers the way I buy a car and that seems to be their model.
I am sure this solution is not for lots of folks, but for me it seems like way better charting, cheaper commissions and a broker with solid execution and very good customer service.
hope this helps,
Enzo
I saw the increase to .01 p/share on their site as well. I was seriously considering Genesis as my broker and a few weeks ago when I requested a demo of Laser (it took a few days to get a reply) I was quoted a software fee of $200 p/month. One-cent commissions and $200 software fee doesn't seem cheapest on the street to me anymore.
I demo'd laser for a few days solid, and in general, I like it. It is very robust and customizable as far as order routing options are concerned. In fact, it is rather customizable all the way around. And from what I hear Genesis's execution speeds are excellent. The charting was not really up to par with what I am used to though. And, at least in the demo, I was unable to the software when the market is closed. Some days I like to go in and look at the charts when things are quite and not being able to do that is a drag.
I used to frequently trade the ES and used third-party software for realtime data and charts and custom scripting capabilities. For the software and data it is in the same $$ neighborhood as what Genesis is charging for Laser. I decided to pick a broker offering half the commission rate on >500 shares and just pay for the outside software and integrate the order entry. And I make up that $200 with the lower commissions really quickly.
Maybe I could have called and wheeled and dealed into the same or a little better commission rate, but whatever, I asked and that is what they told me. I am not looking to shop for brokers the way I buy a car and that seems to be their model.
I am sure this solution is not for lots of folks, but for me it seems like way better charting, cheaper commissions and a broker with solid execution and very good customer service.
hope this helps,
Enzo
try www.motivecapital.com. they might be able to hook you up w/ better commission rate and no monthly platform fee. at least, they used to...
trader111171;
I wanted to check with you about a post you had posted on the Tampa Bay Traders thread about being in prop room in Tampa, you stated:
"I'm part of a group of about 10 prop traders in South Tampa. Most of us used to work at Worldco Financial here in Tampa. We currently have an office on Spruce and some trade remote from home".
Does that room still exist? What is an address or contact phone number for this room? Who do they trade through?
I wanted to check with you about a post you had posted on the Tampa Bay Traders thread about being in prop room in Tampa, you stated:
"I'm part of a group of about 10 prop traders in South Tampa. Most of us used to work at Worldco Financial here in Tampa. We currently have an office on Spruce and some trade remote from home".
Does that room still exist? What is an address or contact phone number for this room? Who do they trade through?
Its funny Laser (touted to be the best Nasdaq execution platform) does not even have the ability for a trader to put a stop-loss order in.
BE very careful.
BE very careful.