So I am looking at some prop firms and also will be taking my series 56 soon. I was wondering if prop firms charge you for monthly platform fees? Or do they give you the tools for free? I've been with too many off shore prop firms and finally decided to take my series 56 and join a regulated one. Can anyone help me?
Hold Brothers is the only firm I know of that doesn't charge for their own proprietary software/platform, but you'll still have to pay "professional" data fees to the exchanges with any firm. The other Series 56 firms will charge you a fee for using one of the better known platforms, Lightspeed, Sterling, Fusion, Takion, etc. The main fees to consider are monthly fixed fees (platform, data) and monthly variable fees (commissions), plus any rebates/credits for adding liquidity for routing orders to specific exchanges (or taking liquidity and paying a fee to the exchanges). Just call each firm and ask, you can find a list of Series 56 firms on various threads.