Looking to switch from Interactive Brokers to a new broker dealer

I'm not leaving the prop account and it is prime brokerage. yeah, I know the part on starting my own broker dealer, will never do that. And again, put commission aside, what about leverage I need that IB doesn't give, routing, rebates, etc. only by having a clean rebates schedule with the Europen guys (IB routs my order to the exchanges where they make most money out of), I can trade "commission free" as the rebates I get from routing to certain exchanges and dark pools will cover the fees.

My funds are also insured under Eurpean laws and regulations, so I really can't see what other advantages IB has (other than being #1 in barrons :D ). and btw, they will give me 30 days commission free trading after testing the demo, so I can even have it parallel with my current IB account.

Thanks,
Bram.
 
yes, the account will be in my name and tax ID#. they work with multiple U.S. clearing frims, which isn't really something that worries me.
 
Thanks for that! I checked EXANTE, they aren't even licensed, so it's a no go for me. However, Alaric is. I will dig into it of course. Isn't FINRA for U.S. brokers mainly? I believe Alaric is regulated by FSA.

Thanks,
Bram.
 
What do you mean by Exante is not even licensed?

On theirs page is mentioned:
EXANTE has been fully licensed and regulated by holding a Category 2 Investment Services License issued by the Malta Financial Services Authority (MFSA).
 
Yes. It is a list of SEC registered broker dealers and anyone that is registered with them. It also links to registered RIAs. However, you told me they were introducing you to a US broker dealer. They can only do that if they are a BD here.

They question you want to ask is where your account will be custody? How are they making their money? They can't mark up commission if they are not registered. They can only charge fixed fees or a percent of profit with your money as first loss.

ALARIC CAPITAL LLC (CRD# 134259) is NOT registered here. See attached.
 

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Robco said:
What do you mean by Exante is not even licensed?

On theirs page is mentioned:
EXANTE has been fully licensed and regulated by holding a Category 2 Investment Services License issued by the Malta Financial Services Authority (MFSA).
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Not in the US.
 
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