There is no doubt about the technical performace of the realtick. But the competitive advantage of realtick brokers is dismal in terms of commission. This fee n that fee will consume all ur profit if u have any. I guess there r so many fees associated with realtick-- software fee, base commission, ecn fee, sec fee, etc. If you add all fees plus tax plus your operating cost, the profit with realtick user may not be so great. I have not traded using realtick, but when i checked the fee structure, it is not cheap.
fwiw, I use ib for good rates and use realtick charting that, I pay for, direct to realtick. I use the basic charting and cme data feed along with nasdaq stocks data and nyse data...cost is 160$ per month for charting and 4.80$ per roundtrip for trading eminies with ib......it works for me.....sure beats 20$ or 30$ per roundtrip....
Oh where are you, Greggy???????????????????? I asked you a question. Why don't the sell side people only post when it's in their best interests?? I asked you what RT gets from the brokers who execute thru RT, and I was hoping you'd respond, so please do.
We're still waiting, Greg. We want you to tell us about how modest RT's broker fees are, so that we can rest assured that RT is out for the trader, and not themselves.
AFAIK, RealTick isn't a broker/dealer. So, although they could probably contract it this way, I doubt RealTick gets any money from commissions. I would imagine they sell software licenses (and/or data feed fees) and thus would make money strictly based on how many people are using RealTick. Of course, if the licensing fees are high, then that could potentially force the broker/dealer using RT as its front end to raise its commissions to cover the fee.
I recall hearing about six months ago that TAL collected somewhere in the neighborhood of $2-3 per trade from each broker that executed thru RT. All I want to do is get our "Realtick Expert" to confirm or deny this, but he's suddenly clammed up. As has everyone else from TAL who normally posts to ET.
I can confirm that this is true though I cannot name my sources. Someone else posted about Nobletrading.com offering a cents/share structure for Realtick which included a base ticket charge of (I think) $4 per trade plus a penny per share or something like that. I know for a fact that the $4 was to pay for the flat RT charge imposed by Townsend on every trade (plus a little profit for Noble obviously)
Well how about them apples! Charge us 250 a month then take a slice of the commissions as well. Yeah I know, so many round trips a month and the charge is waived for charting. Still the amount against commission is high. Pats charges a dollar per round trip and caps. Sure wish someone at Townsend would speak up and verify the this subject. I would hate to think one thing if it's really another. Bsulli
We are not a brokerage firm and therefore can not comment on the fee structure that brokerage firms use. We charge the bd's a software fee, we pass through the exchange data fees and if they choose to use our Order Entry, then we charge for order routing. It seems logical that any firm would include it's costs into their commission charge. A broker/dealer also must pay a clearing firm for clearing the trade and ECN's for executing the trade. So there are several fees involved when trading electronically. Considering what some brokerage firms are charging now-a-days, I believe most brokerage firms that use RealTick are very affordable and competitive. But remember, it's up to them to set the commission structure. Most will usually negotiate their fees depending on your trading volume. You just need to shop around.
Fair enough, Software fee can be the term and volume affects the discount, Pats software fee is a flat dollar and capped form what I've been able to gather. I've shopped it extensively among brokers that use RT. Affordable yes, competitive haven't found that yet after fours years of searching for a BD that offers futures trading with RT at the competitive rate, only affordable. I only trade futures so my take is I should drop my broker and go with a futures broker(truly competitive rates) and get RT directly from Townsend. By my calcuations then I would come out ahead. If there is such combo in a BD then add them to your list on the realtick website and I will look them up without asking you specifically who that is here on ET. Not trying to be diffcult, just looking for the right broker. That includes trading Dow mini's on the RT platform and 24 hour trading. Long time RT user. Thanks in advance. Bsulli