Misc. Fees at Prop firms?

[Don Bright]

Originally posted by EQTRADER
Which (market maker) ECN is BRKR #0067 in SLK's(Redi-Plus) P&L activity reports ?

I don't know, mine all say .787 as contra broker. I suppose there is a list somewhere. ??

Don

 

[EQTRADER]

I can't get the list , but he has by far the highest fees. If I could find out who it is I would avoid using them

 

[Trade_Cents]

Originally posted by EQTRADER
I can't get the list , but he has by far the highest fees. If I could find out who it is I would avoid using them

Probably BRUT

 

[EQTRADER]

If so they are BRUT...TAALLL

 

[Don Bright]

Originally posted by EQTRADER
Which (market maker) ECN is BRKR #0067 in SLK's(Redi-Plus) P&L activity reports ?

I checked and it is Instinet (INCA), although we don't pay additional fees, I know they can be high.

Don

 

[EQTRADER]

thanks for the info

 

[uptik2000]

Don or anyone else using a pro firm-

Are there ANY additional fees per-share added on? Such as "clearing fees", or SEC fees to any stock transactions?

 

[esc_trader]

Typically, your reports at a prop firm will show your commission fees. The "clearing fees" are part of the overall commission you are paying. The other part is the prop firm's cut. Both parts should total to your negotiated rate with the prop firm (ie .01/share). This may or may not be broken out separately on your reports.

In addition, most if not all prop firms will charge you SEC fees on sell trades only. (.00003 * total value of stock traded) - note value of the trade, not # of shares.

 

[uptik2000]

esc-
thanks for your reply.

anyone else have anything to add.
Thanks.
Uptik

 

[Don Bright]

Originally posted by uptik2000
esc-
thanks for your reply.

anyone else have anything to add.
Thanks.
Uptik

Yeah, that's about it. There may be a charge for interest if you're carrying overnight positions.

We don't charge ECN fees or anything else like that. If you're "shopping" be sure to see that the fees are "all inclusive."..

Don