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.
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?
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. xbrxx
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...
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.
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...
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.