I want BUYING POWER + Low fees for SWING TRADING

Quote from Rodney King:

If you have the time and resources to pursue it, you can operate through London and receive much greater than US leverage. But there are some costs and paperwork involved. A firm that's noted for its government-bond dealing desk is active in the space, and there are other players also. Do some homework, call around -- you'll find out how the world works.
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Carlin?
 
Wow, I seriously was out of it when I posted that.

I haven't done stocks/overnight in a long time... very correct in identifying my question as ignorant, as it was.

Can anyone tell me what are the interest rates for overnight holds for a prop vs something like interactive brokers?

Lets compare cygroup which has good reviews and is relatively easy to get into.

I am curious here. If you pony up 10k, how much overnight will they let you carry of a stock (not ETF) and will the interest rate be higher?

I understand with portfolio margin you can carry a lot more. Alas, I do not YET have 100k :).
 
Quote from kidPWRtrader:


Can anyone tell me what are the interest rates for overnight holds for a prop vs something like interactive brokers?

Lets compare cygroup which has good reviews and is relatively easy to get into.

I am curious here. If you pony up 10k, how much overnight will they let you carry of a stock (not ETF) and will the interest rate be higher?
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Very Good question. Right now I don't see an advantage of using a prop vs IB
 
Quote from ProTrader432:

Very Good question. Right now I don't see an advantage of using a prop vs IB
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Calling CY as well as a few others tomorrow early morning.

If anyone can report their experience as well I would appreciate it.
 
Quote from ProTrader432:

Very Good question. Right now I don't see an advantage of using a prop vs IB
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There are many advantages to using prop over IB. If you like to keep positions on and daytrade, the problem is your longer term positions eat up your margin leaving nothing left to daytrade. At a prop firm you can hold longer term stuff and still have all your capital to trade intra-day. That is a huge advantage. IB also won't lend capital to you beyond your margin. Also, you get better tax treatment with a prop firm then with IB. Short stock rates are also usually much lower.
 
Quote from TraderZz:

Quoted overnight rate at CY about 8% right now vs IB @ 1.6%.
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That's way too high. Should be less then IB's. Ours is.

I think you misunderstood CY. They probably quoted you the capital charge, not their debit rate.
 
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