Its similar to BRIGHT higher interday(20:1) and then the trader gets only for overnight 5 to 1 most importantly depending on the agreement he has made with the PROP firm.
Call me an idiot, but I'd rather save $6-8k/month in commissions and risk one day losing my deposit and however much I'm up on the month then go for 3 or 4 years knowing my money is "safe" when I've paid $300,000 for that safety. Even if you only trade a million shares Bright's ripping people off by a good 4 + tenths, that's $192,000 over 4 years... god forbid you like to trade a little volume...
Just for fun, please show me your 20 cent, all in commission. That is considerably lower than what I personally pay. I don't think I have ever seen such a rate at a Broker Dealer that allows overnight etc. I suppose I'm "ripping myselfe off." LOL. And, look, I've admitted to not having the lowest rates for everyone, but again, judging by what has been posted, we are in line for volume traders. I keep in contact with the major firms, and even called them...Assent and Echo. Count in the limited overnight capital useage (from the recent transferee's discussions), etc....well, they wouldn't be here if they weren't happy. If you're happy where you are, simply stay there, not a big deal. The serious traders on this board do their due diligence, and they have 3 or 4 firms to choose from...and their not stupid. All the best, Don
Bright is on the level and one of the most honest places you could find to do business. "....and their not stupid" is pretty funny (their....they're). Sorry to pick on your spelling Don, but you gotta admit, that is funny.
LOL, and I've started posts about "there, their, they're, loose, and looser, your and you're" ...and, yes, that is funny. But, see, I can blame it on old age.... LOL. Don
Don what every one is trying to say is that you are the best out there but they want to trade with Bright with a lower commisson and get the feeling of being with a nice secured firm Your Rates are killing.............
It's so funny...I received several calls from guys on my trip today...from other Firms....not a single complaint, or even a "gee, can you beat that" type of thing. I hear "cut to 3 to 1 overnight now," I hear "my firm closed xxx office and getting out of the business" but when I give out basic rates, no one seems too concerned. Don
Overnight leverage is huge for me...i probably averaged around 15 times my account equity this year. Many many times i've been over 20 times my account equity, to be able to hold a lot overnight is paramount for my trading style.