Swift Trade Canada/Hong Kong

Another thing i noticed, back here we calculate trading net as a percentage of the total volume traded. We are allowed 100 shares or $ 9900 at swift.

why is the expense showing as high as $ 925 per $ 10 000 000 traded volume ? i thot swift shud be able to provide low expenses trading. probably $ 100-$200 per $ 10 000 000 traded ?

Does it get better by increasing the lot size, say to 1000 per trade ? Pl help me understand. i have no questions on trading systems or how to trade. but these things are new to me.

thanks
m
 
Quote from mishwar:

Another thing i noticed, back here we calculate trading net as a percentage of the total volume traded. We are allowed 100 shares or $ 9900 at swift.

why is the expense showing as high as $ 925 per $ 10 000 000 traded volume ? i thot swift shud be able to provide low expenses trading. probably $ 100-$200 per $ 10 000 000 traded ?

Does it get better by increasing the lot size, say to 1000 per trade ? Pl help me understand. i have no questions on trading systems or how to trade. but these things are new to me.

thanks
m
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Im sure the branch manager has outlined fees to you.

Gateways, SEC, NASD ACT Fee, Commission, you really should memorize that stuff its just simple numbers.

Ask your BM for a printout, we got an excel sheet with gateways and a binder with other info (SEC, ACT, Commisions) when we started.
 
Quote from BENG:



You can take your $4k and put it in Interactive Brokers in Hong Kong, problem solved.
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forgive my ignorance of US fee requirements, but I was told a $ 25 000 deposit is required to qualify as a day trader, which i presume I am since I plan to make at least 30-50 trades a day in futures.

thanks
m
 
Does anyone else here trade $ 9900 BP and $ 50 shut down ?
What are your experiences ?
The best performers in many branches dont cross $ 500 per month net. Any feedback ?

Thanks in advance
m
 
Quote from BENG:


I don't understand how can the HK branch make any money if each trader can only use $9900BP. No trainee could become a trader, not enough for the company to pay rent, connections, etc. Peter Beck knows this industry well to know that $9900BP is almost impossible to make $2k without holding overnight. I'm an ex-Swift trader, and last year, I happened to have an one hour conversation with Peter Beck when we got stuck at the airport on our way to NYC (I ran into him, we were not together). Based on what he told me, the Asia branches are doing pretty well, better than the North American branches.
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Trust me the chinese branches arent stuck with just 9900 BP per trader, mishwar has zero clue what he is talking about, we all know that no one would make any/enough coin to survive if they were only given 9900 BP. They also arent going to start this "expert" any higher until he proves himself.
 
You don't need 25k to day trade futures. It is only needed for US stocks and stock options.

Probably the best way to think about it is the 25k pattern day trade rule applies only to SEC regulated products.
 
Quote from dwl603:

Trust me the chinese branches arent stuck with just 9900 BP per trader, mishwar has zero clue what he is talking about, we all know that no one would make any/enough coin to survive if they were only given 9900 BP. They also arent going to start this "expert" any higher until he proves himself.
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Wrong on two counts:

1) I dont remember having claimed to be an expert, even though I may be one, but in any case there is no end to learning. I for one, don't believe and dont like the "expert" thingie

2) You can have another zero. I have not zero but one zero zero thats 100% clue. You will soon hear about this. Trust me.

Thanks
m
 
Quote from zf trader:

You don't need 25k to day trade futures. It is only needed for US stocks and stock options.

Probably the best way to think about it is the 25k pattern day trade rule applies only to SEC regulated products.
More...

Thanks a lot zf trader. I'll seriously think about it. The only BIG concern is connectivity with open positions.

regards
m
 
Quote from mishwar:

Wrong on two counts:

1) I dont remember having claimed to be an expert, even though I may be one, but in any case there is no end to learning. I for one, don't believe and dont like the "expert" thingie

2) You can have another zero. I have not zero but one zero zero thats 100% clue. You will soon hear about this. Trust me.

Thanks
m
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yes you are right you will never get over 9900 BP at swift, so please dont even bother trying to trade with them. 9900 with a 10% payout sucks for such an allstar.:p
 
Quote from dwl603:

yes you are right you will never get over 9900 BP at swift, so please dont even bother trying to trade with them. 9900 with a 10% payout sucks for such an allstar.:p
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:D

enjoy yourself. im thrilled at getting the opportunity with 9900 BP and 10 % after $ 2000 net :D . u have no idea how long ive been waiting for this.like i said, beggars cant be choosers.

yes, i know u guys get 35 % min payout and any amount of BP.

bless u
:D :cool:
 
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