Invitation to PM with a better deal...

A

ArcticTrader

Guest
Hey guys,

I'm not sure what the etiquette is on this board for posting what deals are available, but I am looking to open a prop account in the next 6 weeks or so, and I thought I would post the best deal I have found so far to see if anyone can match or beat it. I will not name the company, and this is not an invitation to advertise your firm's rates publicly... just wondering if anyone can get me a better deal, and if so, they can PM me with it. (If this a breach of some type of etiquette, I apologize in advance.)

Please note that I am located in Canada, so some US firms that don't support Canadian traders won't apply to me. I trade a low-volume intra-day swing strategy, so I definitely won't be getting any volume discounts. I also don't need a fancy software package, just a simple execution platform that is reliable and can place orders relatively quickly (which I believe they all can). I also don't need Level II, if that makes things cheaper.

Anyways, the best deal I have found is offering 0.005/share with ECN rebates, 80% payout, 10:1 leverage, and a basic software platform for $25/month. If anyone thinks that there is a better deal out there, feel free to PM me any time.

Thanks!
 
Hey there... still haven't nailed down a better deal at this point... I had someone PM me with a firm that was going to offer a better payout/commission, but the guy seems to have stopped posting and can't be PM'ed. So, I'm still looking if anyone wants to contact me...

Thanks!
 
Sounds decent. 80% payout at .005 per share, with low volume.

I guess it's a good deal. Question is, is the firm reliable, do you know you will get paid? I think that is even more important.

Also make sure Golden is not in the name.
 
10/1 leverage is pathetic, there are much better deals out there with lower splits but 5/10 times that leverage (if u have experience).
 
Quote from Bitstream:

10/1 leverage is pathetic, there are much better deals out there with lower splits but 5/10 times that leverage (if u have experience).
More...

This is true, but in my case the leverage doesn't concern me too much... if I trade profitably I'm sure the leverage will get increased if I ask, and if not then I don't WANT more leverage - I'd just lose my money quicker that way!

The main things that appeal to me would be either lower per-share costs, a higher payout, or a per-trade type of commission that might make more sense than per-share if it was low enough...
 
Quote from JMowery1987:

Sounds decent. 80% payout at .005 per share, with low volume.

I guess it's a good deal. Question is, is the firm reliable, do you know you will get paid? I think that is even more important.

Also make sure Golden is not in the name.
More...

It's not GMMI... the firm seems pretty reputable from what I have heard, so I'm not too worried about that...
 
Quote from giggollo:

Why is GMMI not considered reputable? Please be as specific as possible
More...

Just for the record, I didn't make that statement... just informing the other poster that it wasn't GMMI. I don't know enough about them to say myself.
 
Update: I misquoted the rate that is available, it's not 0.005 cents/share, it is $0.50/1000 shares, which is 1/20th of a cent per share, at 80% payout and 10:1 leverage.
 
Quote from ArcticTrader:

Update: I misquoted the rate that is available, it's not 0.005 cents/share, it is $0.50/1000 shares, which is 1/20th of a cent per share, at 80% payout and 10:1 leverage.
More...

rofl you sure about that cowboy? thats an unheard of rate unless you're also throwing in a perticket comission and/or a hefty monthly desk fee.
 
You must log in or register to reply here.
Back
Top