what should i be paying?

Im sorry I just don't know as much as all you tradders about profit margins and true costs...LMAO....
I have probably forgotten more then you guys put together know ...but hey...like i said...If you can get those rates TAKE them by all means..You should...but Im telling you from my experience, .003 per share with 100% payout is not a great model unless of course your one of the top 4 or 5 firms and have the volume to back it up....for instance...You give a trader .002 per share....what is your min and max from your clearing firm????

you don't think they are only going to charge 2 cents for 100 share lots do you? Oh no....usually there is a 10-15 cent min charge.....
 
Quote from NY0BScalper:

You have absolutely no idea what you're talking about.

ANSWER: REALLY? How many Clearing firms have you owned or run???

This is not 1998. Times have changed. Clearing costs are extremely low, extremely.

ANSWER: WRONG...the # of clearing firms have dwindled...the cost of Compliance and regualtion and reporting has gobbled up profits...OATS? ACT? REG SHO? AML?.TRACE? ..its very expensive my freind..that is why FISERVE, Prudential, CCS, JBOXFORD AND a host of others have gotten OUT of Clearing...rumor has it a few more are closing/selling....SWS may be one of them


If your intentions are benign, then I'm sorry for my rude inferences, however you're spreading information that's simply not true - information with no basis in reality - and if it were information about, say, how you think a stock trades, or where the economy is going, I wouldn't bother to call you out, but it's misinformation that potentially takes money out of the pockets of the small guy trying to make it in this world, so if that small guy is reading this, he's gotta know the truth.

ANSWER: My intentions are benign...im offering some insight thats all.
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Quote from TM_Direct:

Im sorry I just don't know as much as all you tradders about profit margins and true costs...LMAO....
I have probably forgotten more then you guys put together know ...but hey...like i said...If you can get those rates TAKE them by all means..You should...but Im telling you from my experience, .003 per share with 100% payout is not a great model unless of course your one of the top 4 or 5 firms and have the volume to back it up....for instance...You give a trader .002 per share....what is your min and max from your clearing firm????

you don't think they are only going to charge 2 cents for 100 share lots do you? Oh no....usually there is a 10-15 cent min charge.....
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I am having a hard time understanding your use of the english language. Who taught you how to put a sentence together?!
 
Quote from NY0BScalper:

Finally some truth out of your mouth.
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your funny....I bet you are one of those morons who actually think: 1) their firm holds their $$ 2) that their firm actually gives them buying power and 3) that when you put up 10k you actually are getting 10:1 or 20:1 buying power with your own money???:p :p
 
Quote from ebayuser:

I am having a hard time understanding your use of the english language. Who taught you how to put a sentence together?!
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What part don't you understand? the min and max? or are you just a douch bag who cannot contribute to a conversation so now your pointing our Grammar and spelling???
 
Quote from TM_Direct:

your funny....I bet you are one of those morons who actually think: 1) their firm holds their $$ 2) that their firm actually gives them buying power and 3) that when you put up 10k you actually are getting 10:1 or 20:1 buying power with your own money???:p :p
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I might be one of said morons. Can you explain more.
 
Quote from TM_Direct:

Im sorry I just don't know as much as all you tradders about profit margins and true costs...LMAO....
I have probably forgotten more then you guys put together know ...but hey...like i said...If you can get those rates TAKE them by all means..You should...but Im telling you from my experience, .003 per share with 100% payout is not a great model unless of course your one of the top 4 or 5 firms and have the volume to back it up....for instance...You give a trader .002 per share....what is your min and max from your clearing firm????

you don't think they are only going to charge 2 cents for 100 share lots do you? Oh no....usually there is a 10-15 cent min charge.....
More...

Please tell me that this entire argument is because you screwed up the math? :confused:
 
Quote from TM_Direct:

What part don't you understand? the min and max? or are you just a douch bag who cannot contribute to a conversation so now your pointing our Grammar and spelling???
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I am really trying to figure out what you are arguing about when you say ".003 per share with 100% payout is not a great model unless of course your one of the top 4 or 5 firms and have the volume to back it up" In your opinion, what are the top 4 or 5 firms? On the one hand you say those rates are impossible, but on the other hand, they are completely reasonable if you work for a bigger firm. That is what I am gathering from your gibberish. You are just talking in circles to me, so I was asking, what do you mean? You must have an argument since you are very adamant about making a point.

From my experience, rates are lower than what you quote, all across the board, and I have traded with both a smaller firm and bigger firms. People have mentioned in the past, and I agree, that commissions should not be the only reason for joining a firm. One needs to take into account the whole package: commissions, speed of execution, reliabilty of software...etc...

just my two cents.
 
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