Youâre building a system wow. I am sure there are not other people in the world doing that too. The point is your not paying a lot. I trade and my volume drops a lot in months so I understand how volume works. The problem is youâre only doing 3k volume a day so honestly if you were a business why would you want to deal with you? Letâs say they make 90% on the commission they charge you. So they make 700 a month on you. I am sure you are taking up firm time with linking problems or just taking up space in the office maybe even. What should they charge you honestly? I think you should cut a volume deal with them and have breaking points. There is no loyally in trading so why should they let you take up space for free when you will easily leave for a better deal. This is not an attack I am just being honest. You have to have something to offer people to make a deal. If you are a consistent trader firms make you better deals because they like having professionals at there firm. If you are a big volume trader they like having you at there firm too. I am basically saying get you system working first and then worry.
you make some good points. think about it from a firm's p.o.v. -why do they want you taking up space, eating up overhead costs, when you don't make a meaningful contribution to their business. Then again, it makes no sense to develop a system written for a particular firm's software or API without knowing going forward what your rate will be once you do more volume....
I am sure once your system is up and running and you scale up, you will be able to re-negotiate your current rate. But until then, I dont think you have the leverage to ask for a better rate than you have now. Remember, once the firm needs you more than you need them, thats when you are in business!
right, but if I were him, I would ask for volume breakpoints and get it in writing, otherwise, he is wasting his time. For now, he does nothing in volume, but one day.......
Thank you...Brokerboy wants me to pay...because he is a broker. Thinks every trade a brokerage house makes, needs to be a big winner immediately. Anyway enough about that. Are there names of firms with rates .006 and below?
I am not a broker. I am a fulltime prop trader giving you advice. Yeah there is a real market for 3,000 share a day system building traders. To take up office space, programmers time, tecs time and managements time for $18 in commissions a day. Every firm is .006 and below and some go to .002 or lower but not for you. Your not being rational if you were a firm would you be willing to give deals that you make less then $100 a week on. I personally donât believe in letting firms make a killing off me and I have an idea what they cost are. So I make pretty aggressive deals for myself but youâre not being rational. Why donât you make a deal with Opus they pay 20% gross so you will have no commission and another 10% is held for 12 months? Why dont you make a deal with a firm with volume breaking points even? I bet if you trade remote maybe someone might give you .008 but is that worth leaving for trading 3k volume a day?
Anyone else like to post their equity commission rate and where they trade? Our size has already increased to 3-6k a day each. probably will go to 10-15k shares a day soon. What can we hope to get?