No Commission on Equity Trades...What am i giving up???

I

ilcaa

I currently trade with a firm that I get $5.00 per every 1,000 shares traded. Includes my desk fee and software fees..

Trying to lower my commish because of my intraday scalping of NYSE stocks can take home more green $$$..

I ran across a firm that has no ticket charges, they say they clear there own trades and do ALOT of volume....

any truth to this, would I be giving anything up, slower executions, poor fills,?? they claim to have "the best software on the streets" (they all they the same)

anyone have experience or advice for an intraday NYSE scalper with about 1 year of experience......thanks....
 
The problem is you want help but you don’t share the firm name or software or deal. I know you can get better then 5 on 1000 and have great service too. Some firms people might pay a lot less and sit right next to you.
 
Quote from ilcaa:

I currently trade with a firm that I get $5.00 per every 1,000 shares traded. Includes my desk fee and software fees..

Trying to lower my commish because of my intraday scalping of NYSE stocks can take home more green $$$..

I ran across a firm that has no ticket charges, they say they clear there own trades and do ALOT of volume....

any truth to this, would I be giving anything up, slower executions, poor fills,?? they claim to have "the best software on the streets" (they all they the same)

anyone have experience or advice for an intraday NYSE scalper with about 1 year of experience......thanks....
More...

It is not competitive for a firm to charge a desk fee and software fee to trade equities. As for the rate, what's your avg daily volume?
 
You will find that the fine print says they can take the other side of your trades. Might as well be a bucket shop. They'll make it back on poor fills, and you'll have to have damn low latency bid/ask data to ever see it.
 
Someone else mentioned firms going to a no commissions structure, and I pm'd him but didn't send me a message back.

I'm trying to understand how this "no commission" thing will work if it is true.

They are still charging 10 dollars a trade at Ameritrade, and I don't think I'm going to see it drop to a dollar a trade any time soon.
 
It cost next to nothing for them to execute trades. So if you’re a clearing firm its easy to do. They take a piece of your profit though. So you might have a 20% pay or 50% or 60% depends on the style of trading you do
 
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