broker boy as I worked for swift and now one of the their competitors I can tell you we pay VERY low commissions as well can short most any stock.
momo
momo
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new Swifttrade deal update
- Thread starter M Vega
- Start date
Quote from brokerboy:
I never dealt with swift and am confused with this deal. I and a lot of my friends who trade prop get 99% to 100% payout. We have a lot lower rates than MB or IB offers people so whatâs the catch? Do you pay a really low ticket on big offers and flip? Thatâs what I would guess but I am confused. It seems like there is a lot of swift guys on here.
$0.20 per trade and $0.07 clearing fees per 1000 shares, full pass through of ECN rebates...
Quote from nbates:
Can you tell me - if you put $5,000 into the account, what do they give you for buying power?
If they give you $50k, $100k or more in BP then that would be enough to justify some type of "house" percentage or cut of the profit.
At Swifttrade you start approximately with 50k buying power. It will be raised depending on your results.
so 27 cent for 1000 shrares. so if one trades 100k day thats $27.50. a good trader can get .0025-.003 or so from prop and 50-1margin and keep 100% so at .0025 at 100k shares thats $250 day.so if a trader nets $500 a day he nets $500x60% or $300 - $27.50 for commish.with prop $500 -$250 which is less than swift. so to bet swift once would have to make over 600 day net or be less frequent trader. so for a huge grinder that trades huge swift not bd
Quote from joeyata1:
so 27 cent for 1000 shrares. so if one trades 100k day thats $27.50. a good trader can get .0025-.003 or so from prop and 50-1margin and keep 100% so at .0025 at 100k shares thats $250 day.so if a trader nets $500 a day he nets $500x60% or $300 - $27.50 for commish.with prop $500 -$250 which is less than swift. so to bet swift once would have to make over 600 day net or be less frequent trader. so for a huge grinder that trades huge swift not bd
Depends...
If you trade 10k share clips and do 100 trades / day you would pay $0.20 (per trade) * 100 + $0.70 (clearing) * 100 = $20 + $70 = $90 total for 1M shares / day
If you compare that to paying $.0025 ($2500 for 1M shares)...
It becomes interesting if you trade bigger clips...
Quote from joeyata1:
correct i was showing if one did big clips this was interesting as there commissions are good. but i'm willing to bet 80% of the time bu me breking up the order and scaling in i'll kill you avg trade price of buying 5-10k blocks at a time
Most people that i know that trade 5k-10k at swift are either using 1-2 tickets to get filled on slow moving ETF's, or are using smaller blocks of 1-2k many times to arb or catch quick moves, in which case an extra 20 cents is nothing.
i think the bottom line is if you're grinding trading huge amount of shares and make marginal money swift is good if you're making 1-2k a day trading 150k or less you're much better of on your own if you only trade 25 or 30k a day and only make 500 a day you're better off on your own. swift is great for massive share vol to make little money
Quote from joeyata1:
i think the bottom line is if you're grinding trading huge amount of shares and make marginal money swift is good if you're making 1-2k a day trading 150k or less you're much better of on your own if you only trade 25 or 30k a day and only make 500 a day you're better off on your own. swift is great for massive share vol to make little money
bingo!
mnx