Does anybody know of a good prop trading firm in NYC that offers competitive rates and good execution system?
go back in search people ask the same question every week for ny. also that is an impossible question to answer because whats a good rate to you? what kinda charting do you need? do you need a filter? do you have money to put down and how much? do you have a track record? are you net plus every month? what style of trading do you trade? what kind of volume do you put up? do you trade overnights?
NO , BUT ITS EITHER GENESIS OR ALLIANCE TRADER i HAVE TO DO SOME MORE RESEARCH BUT SERGE SEEMS LIKE A PRETTY GOOD GUY AND i'M STARTING TO HAVE TOO MANY QUESTIONS ABOUT ALLIANCE
I host my automated system with them and have no complaints (that is an understatement - read my review under broker review page). Serge is a good guy - very helpful and accomodating. The rest of the staff is very good too. I recommend you PM me before I post too much and get blamed for plugging (even though they are a paid sponsor here). I've never heard anything about alliancetrader. Are they a BD?
whats so good about the deal. its 3.00 to 3.50 nyse on a 1000 for a guy under 2 million a month + you pay for nyse book and exchange fee's bp is hard to get there and it cost money to get more a big firm same deal or .50 on 1000 at worst more with good track record + no added fee's you will get 500,000 bp without much problem you will get top notch charts and filters which firm pays for i think they are only a good firm if you trade 10,000,000 shares a month.
Hmm, I rarely like to interfere but I think you got some of the facts a little wrong. They charge 3/3.50 for under 1 m shares a month, not 2. For under two its 50 cents less and on each 1m shares per month 50 cents is 500 bucks! They also provide their own charting - which is very good. They also build filters for you. I am also not sure who would give 100 : 1 leverage on $5,000 to someone doing less then 1 mm (or even 2mm) shares per month on $4.00 / thou commission. Its a little dangerous, in my mind. But that is a business decision and I am not going to bother. but keep in mind that every 50 cents is 500 bucks a month on each million shares. And yes, it does make a lot of sense for people who do tons of volume (like me). But I trade with Genesis not because of commission, but beleive it or not, quality of executions! The fact that the system hasn't crashed on me even once yet (keeping fingers crossed) unlike where I was before, saved me more money then any commission ever could. Anyway - that's my story. Sorry for poking into your post.