Questrade

Originally posted by bigscalper
Just asked a friend in Toronto. Apparently, nobody at Quest makes good money. But, check this out for yourself if you are serious about evaluately this firm.
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Originally posted by bigscalper
Just asked a friend in Toronto. Apparently, nobody at Quest makes good money. But, check this out for yourself if you are serious about evaluately this firm.
More...


I know that until recently their comissions were almost like at Bright's. Maybe they just lowered them, I don't know.
 
Originally posted by fattyasids
the per share rates are very high from 250,000 shares per day and up. if you are doing that kind of volume (especially over 500,000 shares), you'll be paying for their house in the hamptons inside of 12 months...

also, there's a lot of bs fees as mentioned above
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Some responses to fair criticism.

Believe me no one is going to buy a house in the Hamptons any time soon with rates as low as $0.70 per thousand shares. Just what do you think it costs to clear and execute a trade as well as maintain a trading floor?

As for B/S fees they may seem petty but with such tight margins for error how do you propose we cover the cost of trading, maintaining the account and reporting back to the trader? If we were charging $.01 per share I agree there should be no additional charges but there is additional work involved inhouse in maintaining and accounting for each trader.

Short of free with a 95% payout, I don't know where a better deal exists.

The down side is the money is not covered by CIPF and repayment of the subloan has to be approved by the IDA. Just like any other US LLC arrangement.

You have to take the good with the bad.
 
Originally posted by bigscalper
Just asked a friend in Toronto. Apparently, nobody at Quest makes good money. But, check this out for yourself if you are serious about evaluately this firm.
More...

As for not making good money at Questrade, all I can say is that we are relatively new on the scene and that this deal has just been introduced.

Most traders are struggling just as they are at every other firm. If a trader is making money on a consistent basis elsewhere they are giving the vast majority of it back to the firm.

Take a look around, it's an achievement to be just left standing in this environment. Traders and firms with them are dropping like flies.

Our goal with this offer is to lower the trader's risk in order to make them and keep them profitable while letting them keep 100% of their profits.
 
I checked your website... it says that this is a sample deal. Does it mean that you can go even lower? Let's say, I trade 1,5 - 2 mil shares a day. And what is that Laser - something like IB's SMART?
What about your executioner - how stable it is?
 
there are many traders making big profits in this environment, don't be fouled, penny/rebate scalping is only a small microcosm of trading. As principal of a firm you should become better informed.
 
The site says that this is a sample offer meaning that if someone wanted to do rebate trading this is the best deal we can offer. Our commisions don't get any lower. However if you wanted to jump around from stock to stock we could raise the per share and lower the per stock/side/day fee.

If someone were interested in a different strategy then we could formulate a different structure for them. Depending on the trader's needs.

Laser is our execution platform. It's stable and its fast. Call us or email and we can give you access to a demo if you like.
 
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