Please explain how anyone on earth can get .00275 all in with just sec fee's? i could bang liquidity all day long on nasdaq stocks and it would cost the firm .00025 for every share i did(.003 ecn fee's - my .00275 commish).Not a firm on earth would do that unless they were taking a % of profit
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what should i be paying?
- Thread starter zmiws
- Start date
Dont be so innocent folks. These brokers are making tremendous money on basically zero risk as long as you have a deposit in there. They charge you commission and on top of that they dump all the fees on you. The .003 or watever is only the base, then you pay sec, nscc, nyse, ecn, software, data and other crap fees at most of these day trading shops. Almost every day, I see my profits cut in half by these fees. I should know what i am talking about. I bet if a guy pays 15k in base fees alone, the firm is making at least half of that.
You are 100% correct....you cannot get an "all in rate" for anything close to that!
Quote from piggie2000:
Please explain how anyone on earth can get .00275 all in with just sec fee's? i could bang liquidity all day long on nasdaq stocks and it would cost the firm .00025 for every share i did(.003 ecn fee's - my .00275 commish).Not a firm on earth would do that unless they were taking a % of profit
I have to disagree with you Scalper. Even if you have money up there is tremendous risk for prop trading firms. In my time, I have seen stocks halted with a trader on the wrong side of it; stocks taking off on news so fast that risk managers can't do a thing about it; and technological issues that cost both the trader and firm a lot of money.
As for all those other fees, you are correct, they eat into your profit but the firm doesn't mark those up (if they are you need to be trading somewhere else!!)
As for all those other fees, you are correct, they eat into your profit but the firm doesn't mark those up (if they are you need to be trading somewhere else!!)
Quote from Scalper007:
Dont be so innocent folks. These brokers are making tremendous money on basically zero risk as long as you have a deposit in there. They charge you commission and on top of that they dump all the fees on you. The .003 or watever is only the base, then you pay sec, nscc, nyse, ecn, software, data and other crap fees at most of these day trading shops. Almost every day, I see my profits cut in half by these fees. I should know what i am talking about. I bet if a guy pays 15k in base fees alone, the firm is making at least half of that.