Is this a good deal?

A

Altec55

I came across a group in New York who trades on Sterling. I trade about 3 - 5 mill shares per month, was offered .00075 / 90% payout. $200 sterling platform fee. If I maintain over 4 mill shares per month platform fee will be waived. Anyone know of a better deal then this? Do you think this is a good deal on Sterling? I have already traded on Anvil/Lightspeed where the rates where much higher.

Thanks

Al
 
Quote from cubical:

Do you have to put up money? Is there training? 4 mil shares is a lot unless you know what you are doing.
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I took the deal. Yes capital was required, not sure if there is training, I been trading for about four years so that wasn't something I needed to look into.
 
Quote from Altec55:

I came across a group in New York who trades on Sterling. I trade about 3 - 5 mill shares per month, was offered .00075 / 90% payout. $200 sterling platform fee. If I maintain over 4 mill shares per month platform fee will be waived. Anyone know of a better deal then this? Do you think this is a good deal on Sterling? I have already traded on Anvil/Lightspeed where the rates where much higher.

Thanks

Al
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I think you added an extra zero.

There is just no way that a firm can offer that rate, especially on just 4 million shares per month.

If it's the correct quote, can you please PM me the number to call to get that rate (.00075)

Thanks and good luck.
 
Quote from Clubber Lang:

I think you added an extra zero.

There is just no way that a firm can offer that rate, especially on just 4 million shares per month.

If it's the correct quote, can you please PM me the number to call to get that rate (.00075)

Thanks and good luck.
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No offense but you sound out of the loop on sterling deals.

That deal is good and fair... not "OH MY GOD WOW WHAT A GREAT DEAL" but it is a fair, good deal.

I personally wouldn't trade on Sterling for free. That's me, though.
 
Quote from NY0BScalper:

No offense but you sound out of the loop on sterling deals.

That deal is good and fair... not "OH MY GOD WOW WHAT A GREAT DEAL" but it is a fair, good deal.

I personally wouldn't trade on Sterling for free. That's me, though.
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I am out of the loop on any deals remotely close to that.

Although your comment about Sterling makes the low commission offer logical.

Personally, I would pay much more per share if my software was solid (which it is). The amount of money lost due to slippage, down time, stuck quotes, etc. would crush any amount of extra money saved with those low rates.

Also, no way would I give up 10% of my profits.

Thanks for the reply NYOB.
 
lol sterling is total garbage. whats .00075 if you're getting fucked 1-2k day in slippage and stuck quotes? the rate means dick if the system is terrible
 
I think .00075 makes no sense and is a great deal for you if that is right. Since you trade in that size I don't understand why they would offer you this. 4mil @ that rate is $3000 commish/mo. As opposed to $20k at .005 You would have to make $170k/mo for them to get to that $20k. I trade with guys that use Sterling and they don't complain any more than other guys on different platforms, but I never used it. You also sound like a scalper. Scalpers tend to 'take' liquidity and incur ECN charges, that I assume they are eating but I don't know? If they are I would say that's a great deal for you. Unless I'm missing something. A swing trader it might not be as good a deal for it would seem.
 
I think .00075 makes no sense and is a great deal for you if that is right. Since you trade in that size I don't understand why they would offer you this. 4mil @ that rate is $3000 commish/mo. As opposed to $20k at .005 You would have to make $170k/mo for them to get to that $20k. I trade with guys that use Sterling and they don't complain any more than other guys on different platforms, but I never used it. You also sound like a scalper. Scalpers tend to 'take' liquidity and incur ECN charges, that I assume they are eating but I don't know? If they are I would say that's a great deal for you. Unless I'm missing something. A swing trader it might not be as good a deal for it would seem.
 
Sorry hit submit once? Posted twice. Thought about it, you have to be paying ECN charges. Most of us pay them above .005 anyway, but I would think the $200 for platform with your size is fairly inconsequential to answer that question, no? I don't know if I would push at month end to get to 4mil to save $200?
 
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