Any prop firms willing/able to compete?

Discussion in 'Prop Firms' started by coon, Apr 22, 2004.

  1. WinSum


    It's not really that great for newbies either. Newbies will tend to fall into Genesis' Level V category.

    Traders in Level V category will be required to pay the $250/month software fee because they don't generate enough volume to have the software fee waived.

    #21     Apr 23, 2004
  2. zdreg


    you are joking . comparing echo to bright, comparison is like a 1 carat diamond to a .1 carat diamond. where did you get your information?
    #22     Apr 24, 2004
  3. xbrxx


    All prop firms nowadays have desk/software fees for newbies. Ranging from 100 to 350 bucks. And according to volume, you get some of your money back. But you typically start off with .008 or so.

    Even if there is the software fee, Genisys is still cheaper. Heres an example. Lets say he trades 5k shares a day. At .008, every month he spends 800 bucks in commision.... assuming 100k shares a month. With genisys, it'll come out to be 350. Add the 250 dollar desk fee. 700 bucks, still cheaper than the other shops without desk fees.

    Of course you wont have mentorship and all the crap. But this rate is pretty hard to beat for a newbie.

    #23     Apr 24, 2004
  4. traderob


    anyone have a link so I can check the site out.
    #24     Apr 24, 2004
  5. H2O


    Everybody is talking about a pro(p) deal here,but Genesis offers the same rates (with a $1,- minimum) for RETAIL traders as well. For people who have their reasons not to trade pro(p) this is certainly the best deal around.

    I'm going to contact them and see if we can work things out...
    #26     Apr 24, 2004
  6. traderob


    thanks for the link. I think it says the platform is free of charge as well.
    Looks like a good deal.
    #27     Apr 24, 2004
  7. KingMook


    I dont understand how companies can offer traders to trade for free and stay in business for long, Broadway did it once and look what happenned to them. Plus as understand they provide no BP.:confused:
    #28     Apr 24, 2004
  8. UMU


    Hi, can you please explain how this is working.
    I assumed the ECN add liquidity rebate works only as long as your order is not executed. But then I don't know what sense it makes. So I must be thinking in wrong direction...
    #29     Apr 24, 2004
  9. Ebo


    You get paid a rebate if you "add Liquidity", offer or bid and get executed.
    You pay if you "remove" liquidity, hit the bid or take the offer.
    Its simple. Some brokers pass this charge/rebate on , others do not.
    #30     Apr 24, 2004