Discussion in 'Prop Firms' started by coon, Apr 22, 2004.
Any prop firms willing/able to compete with Genesis' new fee structure?? Please post here or PM
Is this really a new breaktrough in commission pricing??
Is it plus ECN fess on top of that?
pretty much the same as I pay now
It's with ECN fees/rebates, and who do you trade with??
i have to agree with gsco...these fees are pretty much in line with their competitors.
You only pay a tenth of a cent now? With who? How much volume do you do to get that rate?
I am a remote trader who has been looking for a new place for quite some time now. I did extensive research on most the firms and the rates I received was competitive to the volume structure of genesis but the software is awesome (really, much better than all the software ive used so far and i used alot). Anyways i get sub .003 and i do about 25k to 75k per day. Roughly about 500K to 1.5M shares per month. And the ecn rebates are passed thru and whenever i trade nasdaq I only offer liquidity so my commissions are nearly free. I have befriended the manager who has been really helpful and I do not want to post his name or firm so if interested just pm and Ill give you his number or whatever info you want. I couldn't do the volume that he wanted to get .002~ .0025 but I know the volume structure isn't as high as genesis. I would guess if you do more than 2million per month that might be doable? Anyways don't quote me please~~ Thanks!
Most firms that have been around for awhile can match that rate if you are doing that type of volume. I am with RML and know that they can.
People are referencing just how competitive the Genesis rates are. I'm in agreement with the rates for a NAZ trader, however, for a listed trader it seems that those rates are in fact below other firms for traders of those given volume levels.
The bigger stable firms are not competitive with those rates as of now. Generic, Echo, and Bright all charge higher rates (in some cases significantly higher), with the magnitude of the difference being much greater at the lower volume levels. I have never seen sub .02 offered anywhere, even for ~30-40M shares/month. I have also heard that Genesis will only give 10-1 leverage.
Genesis for both listed and OTC is much much cheaper than any pro firm out there, unless you do monster volume. I only do about 500k a month and this really is an amazing deal. I know bright is a penny a share for your first 1000 and .04 over 2000 and only .01 for nas. Echo offers the same deal I believe might be a little more expensive than Bright though. So anyway you look at it Genesis is about half and less that those two firms. I trade at a prop now and the fact they haven't offered me lower rates to even come close to Genesis is kind of an insult imo.
Time to move on.
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