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Best Prop Broker for Day Trading US Stocks?

  1. Hello, I am a stock day trader for almost 6 years and I’m currently working with the broker “Day trade the world”, mainly because it has low fees and commissions compared to other brokers( I must mention that they keep around 10% of total monthly earnings), however for those who know this broker well… you may know some of their absurd regulations, such as: we are forced to operate with 5 traders or pay 450 $ monthly, plus they prohibit us from having more than 2 traders executing the same order at the same time (This is the main reason why I need to change broker) I need to trade with a new firm, a prop broker that allows me to operate independently (only one account for myself) and at least have a buying power leverage of 8:1 and open the account with 7000 $ capital


    I am not finding it very easy to find this information, so far I have seen only the offers of Tradezero and United Traders. Both charge between $ 0.0050 and $ 0.0055 in fees per share executed (a fairly high cost in my opinion and partly adding platform costs ranging between $ 100 and $ 200 per month) Please someone in your experience know what prop broker can I work with? (I only day trade stocks in NASDAQ and NYSE markets) and that offers me competitive rates to perform my scalping strategy with no restrictions?

    Thank you for your time and advice.
     
  2. Are you outside of the U.S.? Hold and AT both do business there at much lower per share rates, but Hold doesn't accept capital deposits.
     
  3. What is AT?
     
  4. apple technology
     
  5. link?
     
  6. I would go with AT
     
  7. what is at
     
  8. outside the norm: tradenet sleeper firm: CY Group. i have traded w both.
     
  9. do they still have traders? a quick look at their website suggest no. they are only into trading education.
     
  10. do they still have traders? a quick look at their website suggest no. - yes, both firms still active. tradenet is cfd firm out of London and promotes itself as a school. The other one is out of Los Angeles. due dilligence is advised
     
  11. exactly. cy group had a good reputation a longtime ago. today?

    for most trading retail is a wiser move.
     
  12. There are prop firms providing customers with comiss 0.0035 or 0.0030usd per share. But still you have to pay 150usd platform fee or even more than that if you want to have good and high speed platform like Sterling.
    Also if you can generate high volume you can get nice comiss with a lot of prop firms.
     
  13. I have traded with many prop firms and from my experience Global Prime Trader is the best prop firm i have dealt with.
     
  14. I do trading with severall companies but never tried GPT. I failed to find any information on their web site concerning min. risk deposite, pricing, leverage, platforms etc. That looks strange.
    Could you tell what conditions do they give for traders?
     
  15. In below video from SMB Capital, Mike mentions (1:12 minutes into it) that this scalper is paying 0.0007 ($0.70 per 1000 shares traded) in commissions.



    $0.70 per 1000 shares is pretty good, no? I wander if this rate is only for high volume traders or for anyone trading at the firm. Is this considered "normal" commission rate for a prop? I assume they you keep rebates as well.
     
  16. Nisetrader check your inbox
     
  17. 0.0007 not bad at all but this is not comiss for normal guy. I mean this is probably one of the best smb traders who do big volume and also we dont know whats his payout.
    Im more interested in what comiss i can get as a guy who do volume below 1m monthly, trading on my own risk deposite with conpanies leverage.
     
  18. Hooter can you tell me about your experience with Tradenet. I tried CY but they don't take U.S. citizen living in the U.S.
     
  19. That is total bait for SMB capital. The crux of the video is not the low commissions, but the scalping angle. Watch the whole thing and you'll realize it for what it is.

    Crap-ass prop-firm nonsense.
     
  20. Tradenet is a bucket shop, pure and simple. Cfd's are nothing but a real time sim. But...unlimited liquidity. Buy as many shares as you want at any price that rolls through the time of sales. Not all low priced stocks are available, so if you like shorting pennies, tradenet wont work. More bad news, normally cfd's limit your ability to scalp, sometimes simultaneous buy on bid/sell on ask arent allowed. and the fees!: .007 per 1000 plus ecn ( which is a crock seeing how there is no clearing firm w cfd's). Good news: unlimited liquidity, tons of leverage and a very user friendly platform (Das clone). If you do make $, they will pester you to upgrade buying power, they have a few more quirks also, something about a blackout period when your withdrawl is pending. i guess if you must, put 3k on your credit card and get 80k buying power w tradenet but My advice: trade sim w Das Trader Pro Paper until you are consistently profitable and work on getting a series 57 license.
     
  21. go with global market trading. they can offer good rates but take a pl cut
     
  22. Trying to make a deposit with United Traders is immpossible, they kept money for 20 days then wouldn't accept visa lol even though bank okay'd. Is anyone with CYgroup still or any recommendations??
     
  23. I agree blueraincap,Global Market Trading is a good choice.
     
  24. try Shark Traders, they have been in business for a long time. Lowest fees that I have been ever offered, but you cannot join if you are from the USA
     
  25. sharks eat sharks.
     
  26. Are they reliable? What about their short list/locating fees!
     
  27. United Traders all setup they seem very good bar first hitch which was more my fault given I didn't include intermediary bank on the form.
     
  28. yes they are reliable. usually I don't have problems with shorting stocks I trade, but several times it didn't work for cheap stocks. I try to locate on premarket to be sure to get a piece of pie :D Locating fees are from 1 cent up to several bucks, it depends on what exactly you locate
     
  29. You 3 should pool your $ together and start your own bucket shop.