Incubator Hedge Fund

Quote from bkamrath:

Not trying to hijack the thread but I had one question about after the business entity is set up and you register with a broker.

Say I start an LLP to start tracking performance and register with Thinkorswim. Will they consider me a professional client if I only manage my own funds?

In other words, do I have to start paying the data fees to the exchanges. Because those really start to add up.
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Yes. The definition of non professional is a non broker dealer with an account in your name. Once you use an entity like a LLC or LP etc, you're considered an institutional account and pay professional data rates.

Bob
 
Not to be captain obvious, but could those fees just be avoided by using a Thinkorswim Papermoney account to stream quotes and use a broker like IB to execute your trades? NYSE Level 1 fees are $127.50 a month for IB.

Doesn't seem like it'd be too big of a hassle if you weren't day trading.
 
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