I've been thinking about this for a while now but just can't figure it out and if someone can shed some light on this I'd appreciate it. I would imagine clearing fees for SWIFT is not any cheaper than US prop firms that self clears. Then why does US firms charge 10X the amount for commission? Even if SWIFT takes 30%, for high volume traders it's still alot cheaper to go with SWIFT. I want to open a branch office in Asia but SWIFT has allocated the territory I want already. If any US firms can match SWIFT's model and commissions and interested in opening offices please PM me. Thanks.
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Why can't any US firms compete with SWIFT?
- Thread starter thetraveler
- Start date
Does anyone know if there is one in Hong Kong? I know there's some in China... Anywhere else?
For the first 5 months or so you are considered a student and do not make any commisions. You start off trading 100 shares and work your way up trading more shares as you hit certain milestones. Once you make a certain amount in your final month you then graduate to become a trader. Its then you start earning commisions based on a marginal scale of how much you earn per month, something like 20% on the first $5000 and up to 35% if you can make over $20000 or so. I think this scale depends on the country in where it located.
Trading man you are wrong with your explanation
It goes alot like this the trainees start with 100 shares which is correct and as they get better they are given more (if the dont they are or should be let go) Once you make $2000 in a month you are considered graduated but the firm especially in Canada pay you from dollar $1. There is no set 5 month trainee time limit and like i said you start earning from the first dollar you make and as you make more your commission level goes up.
China and some over countries used to pay a low comm but they are being pressured to increase due to competition.
I hope this helps
It goes alot like this the trainees start with 100 shares which is correct and as they get better they are given more (if the dont they are or should be let go) Once you make $2000 in a month you are considered graduated but the firm especially in Canada pay you from dollar $1. There is no set 5 month trainee time limit and like i said you start earning from the first dollar you make and as you make more your commission level goes up.
China and some over countries used to pay a low comm but they are being pressured to increase due to competition.
I hope this helps