how to save commission by setting up own broker

L

lovefxspot

currently I am trading 20mm-30mm (could bump it to 50mm) NYSE shares per month at a Dutch broker. They charge me 0.001-0.0015 per share.

wondering if setting up own execution broker can save me commission. oc need to figure out if saved commission can at least offset fees/cost to setup/run execution broker.

Anybody has this kinda exp? comments are appreciated!
 
20mm-30mm? million only has one m

So you are averaging over one million dollars (finger poking cheek) errr shares per day, is that right? And you are asking this question on a basically retail (though not all of us) trading forum.

And even though you are a big swing dig on the NYSE you choose a screen name of loveFXspot.
 
SunTrader said:
20mm-30mm? million only has one m
More...

Roman numerals.

SunTrader said:
So you are averaging over one million dollars (finger poking cheek) errr shares per day, is that right? And you are asking this question on a basically retail (though not all of us) trading forum.
More...

Trading lower priced names, it's not a crazy number.
 
Why a Dutch broker if you are located in NYC? Are these OTCBB symbols or US-Listed?

lovefxspot said:
currently I am trading 20mm-30mm (could bump it to 50mm) NYSE shares per month at a Dutch broker. They charge me 0.001-0.0015 per share.

wondering if setting up own execution broker can save me commission. oc need to figure out if saved commission can at least offset fees/cost to setup/run execution broker.

Anybody has this kinda exp? comments are appreciated!
More...
 
lovefxspot said:
currently I am trading 20mm-30mm (could bump it to 50mm) NYSE shares per month at a Dutch broker. They charge me 0.001-0.0015 per share.

wondering if setting up own execution broker can save me commission. oc need to figure out if saved commission can at least offset fees/cost to setup/run execution broker.

Anybody has this kinda exp? comments are appreciated!
More...


Why do you worry about the commision let the broker earn too ! Why choose to go with a single broker instead of a few brokers and banks ?
 
Robert Morse said:
Why a Dutch broker if you are located in NYC? Are these OTCBB symbols or US-Listed?
More...

they give 200x leverage, impossible in usa. and most top HFTs use this broker
all NYSE listed tickers

just like i wanna do execution/agency broker (no dealing) myself but use your WB as clearing broker
 
Last edited:
ph1l said:
https://howtostartanllc.com/business-ideas/stock-brokerage-firm
HOW TO START A STOCK BROKERAGE FIRM

https://www.cleverism.com/complete-guide-starting-family-office/
Complete Guide to Starting a Family Office
More...

It only takes $200K to $300K to start a brokerage firm? That's it?? And FINRA only requires $100K as the capital requirement? That's way too cheap. NFA/CFTC requires at least $2 million as capital requirement for clearing FCM's. If I am starting my own brokerage, what I would want to know is what's the cost of having my trades executed directly on the exchanges, having a seat and etc.
 
lovefxspot said:
this is more like introduction broker, still going thro execution+clearing broker...not what i am looking for
More...

Maybe you would want to use a broker with zero commissions that doesn't accept payment for order flow?
https://www.merrilledge.com/investing/best-execution-trading
upload_2021-8-11_15-48-28.png


https://www.fidelity.com/trading/execution-quality/overview
upload_2021-8-11_15-48-54.png


But I doubt if they can give you your current 200:1 leverage.
 
You must log in or register to reply here.
Back
Top