Hafez, that isn't true. There are many different clearing situations and there is an old saying that goes "you get what you pay for". Don uses GS, who provides a lot of value as does his firm in ways professional need. WTS has dirt cheap commissions but you pay for it in other ways like poor customer service. Often, it's a lot more than just commission rates to the equation.
evo I got great customer service and in over 1/2 a decade of trading with this outfit I've never had a problem and saved millions of dollars in commissions over bright so tell me were I have gone wrong. I Know bright clears gs and there the greatest and can short a stk here and there I can't and can probably do some sophisticated combo margin trades I can't but the bottom line is my bank account is millions of dollars fatter than if I had been using bright and that's what counts in the end. as I recall wts has all kinds of bs fees were I have none. to each his on but there are great firms out there much cheaper than bright and would save many people huge money
This is only true of the a few of the "secondary" type firms (the rebate traders who tell you what stocks to trade for example). We pay for every share traded. All the best, Don
What does a hedged position mean exactly? If I'm long $50k worth of FB I have to be short $50k worth of SPY? Can you give an example along with the fees for holding over night. Thanks