Transaction costs

Oz Cillator · Jan 2, 2004

Anyone:

Which firms offer the lowest transaction costs/commissions per share? What are those rates (across various volume levels) ?
Thanks

Don Bright · Jan 4, 2004

Quote from Oz Cillator:

Anyone:

Which firms offer the lowest transaction costs/commissions per share? What are those rates (across various volume levels) ?
Thanks

Yes, would someone please help me out on this as well? Bob and I really want to know of any solid firm that is offering good "all inclusive" rates...either retail or pro.

Start the list...with numbers and websites if you don't mind...

Don

EricP · Jan 5, 2004

Quote from Don Bright:

Yes, would someone please help me out on this as well? Bob and I really want to know of any solid firm that is offering good "all inclusive" rates...either retail or pro.

Start the list...with numbers and websites if you don't mind...

Don

Looking for a new broker, Don? LOL

I think we all realize that the best available rates for any firm will NOT be posted on any website. But, perhaps BT does not fit into this mold. Does BT post their bottom line best rates on their website, Don?

Just checked your website and see that your rates are a penny per share. Quite high (all inclusive or not). So I assume all of your traders pay this rate?

I don't want this to come across as being negative, as this is not my goal. My point is simply to point out to the naive among us why you and your brother might be so interested in developing a list of your competitors publically posted commission rates. So, I'll start the list for you:

Bright Trading: 1.0 penny per share

-Eric

Bullet · Jan 5, 2004

Well said EricP!

Don Bright · Jan 5, 2004

Quote from EricP:

Looking for a new broker, Don? LOL

I think we all realize that the best available rates for any firm will NOT be posted on any website. But, perhaps BT does not fit into this mold. Does BT post their bottom line best rates on their website, Don?

Just checked your website and see that your rates are a penny per share. Quite high (all inclusive or not). So I assume all of your traders pay this rate?

I don't want this to come across as being negative, as this is not my goal. My point is simply to point out to the naive among us why you and your brother might be so interested in developing a list of your competitors publically posted commission rates. So, I'll start the list for you:

Bright Trading: 1.0 penny per share

-Eric

Bright Trading is much, much lower than that... .4 for all shares above 1,000 (serious traders)...and closer to a half cent than to a penny...but since we have so many different programs, to fit individuals and groups (based on several factors) we don't post rates.

I know what the the other firms are charging... and I was simply responding, with a smile, just to see what popped up.

Rates are just a portion of what a firm offers. And, as I said, we're as competitive as any serious firm out there.

( I just would like to see some of the bashers come up with real answers some times....LOL).

Don

IndexTrader · Jan 5, 2004

Don,

Do European-based traders need a license(s) as well?
Do they usually come to the US for interview/licensing application?

Thanks.

traderob · Jan 5, 2004

Quote from IndexTrader:

Don,

Do European-based traders need a license(s) as well?
Do they usually come to the US for interview/licensing application?

Thanks.

Good question.

Nana Trader · Jan 5, 2004

Quote from IndexTrader:

Don,

Do European-based traders need a license(s) as well?
Do they usually come to the US for interview/licensing application?

Thanks.

I think yes. This is answer to your question:

http://www.nasdr.com/exam/userlistlocations.asp
Various location around the Globe.

And this is where best recommanded to buy materials
www.examco.com
www.dearborn.com

Btw i am not series 7 licensed yet, even not realy
profitable yet, so there isn't any point to apply for
series 7 yet

EricP · Jan 5, 2004

Quote from Don Bright:

Bright Trading is much, much lower than that... .4 for all shares above 1,000 (serious traders)...and closer to a half cent than to a penny...but since we have so many different programs, to fit individuals and groups (based on several factors) we don't post rates.

I know what the the other firms are charging... and I was simply responding, with a smile, just to see what popped up.

Rates are just a portion of what a firm offers. And, as I said, we're as competitive as any serious firm out there.

( I just would like to see some of the bashers come up with real answers some times....LOL).

Don

That was a real answer Don. You asked for posted rates of prop firms, right? Along with web links (and phone numbers, I believe)? Figuring you already had your own phone number, I thought all you needed was the web posted rate. So, that would still be:

Bright Trading: 1.0 cents per share
http://remote.brighttrading.com/Bright_Remote_Home/Misc__Info/General_Info/Fees/FeeSched.PDF

Link added, per your original post request.

Sorry if you consider this 'bashing', although I'm not quite sure why. I was thinking I was being 'helpful' => marketing your firm for others that might be looking for posted prop rates?? Or did you just want to publicize the POSTED rates of other firms, and not your own... Sorry, if this was the case... lol

Disclaimer: I've never traded at BT or any other prop firm, and basically am just having a little fun with Don. From what I understand from reading his posting for the last couple of years, he seems to be a 'stand-up guy', although his veiled marketing can become annoying for me at times, thus this series of posts. :-)

Thanks,
-Eric

Don Bright · Jan 5, 2004

Quote from EricP:

That was a real answer Don. You asked for posted rates of prop firms, right? Along with web links (and phone numbers, I believe)? Figuring you already had your own phone number, I thought all you needed was the web posted rate. So, that would still be:

Bright Trading: 1.0 cents per share
http://remote.brighttrading.com/Bright_Remote_Home/Misc__Info/General_Info/Fees/FeeSched.PDF

Link added, per your original post request.

Sorry if you consider this 'bashing', although I'm not quite sure why. I was thinking I was being 'helpful' => marketing your firm for others that might be looking for posted prop rates?? Or did you just want to publicize the POSTED rates of other firms, and not your own... Sorry, if this was the case... lol

Disclaimer: I've never traded at BT or any other prop firm, and basically am just having a little fun with Don. From what I understand from reading his posting for the last couple of years, he seems to be a 'stand-up guy', although his veiled marketing can become annoying for me at times, thus this series of posts.

Thanks,
-Eric

Sorry for the misunderstanding! Yes, we simply have a maximum on our legal papers for obvious reasons...and, since this is 2004, much has changed.

.4 for all shares above 1,000 as stated. All seasoned traders are competitive with all other firms. Even new people average much less than a penny with the .4 rate.

Thanks for bringing this sheet to my attention, now I can correct it for 2004!! And everyone should call for individualized pricing, as I state on our website.

Again, sorry for any misunderstanding.

Don