Comission and Bullet Rates

Discussion in 'Prop Firms' started by Hitnruntrader, Dec 6, 2002.

  1. I am very curious to what the average person pays in comish and bullet charges. I saw the add for PointDirex and it says that comission rates are half a cent and the bullet rates are 1.5 cents.

    On an average day i do about 50,000 share volume and usually 10,000 bullets.

    Can you tell me what price i should be paying for comissions and bullets? I pay more than half a penny per share for comissions and i pay more than 1.5 cent per share for bullets.

    Am i being ripped off?
  2. read on the website about other fee's on Point Direx

    NYSE fee or an ECN fee.
  3. axehawk


    I am also interested in the current rate of bullets at prop firms.
    What's normal, low, and high?
  4. Bullet


    I trade retial and pay 1.5 cents per thousand. $15 for 1000shrs. Both protrader and andover offer this.
  5. axehawk


    Anyone know what Echo or Bright charges for bullets?
    What about Lynx?
  6. Rates vary within a firm. Most prop firms don't have set rates for their traders. If you talk to guys within the same company who do the same volume, you'll probably get different rates. Most of the time rates are adjusted with volume, mostly after a trader asks for them. Some firms will drop the rates automatically. No senior member of a firm is going to post exact rates, cause if they do, they'll lock themselves into it.
  7. Echo= 2.5 cents per sh NO MINIMUM :D
  8. When I was going to trade with Bright, it was $3 per 100 share. My guess is it still is the rate.
  9. nitro


    I am retail and I pay .009/per share all in [NYSE] and .01c per share for bullets, $5 minimum.

    For spoos I use different brokers, I pay $2.40 per side on the ES, and a little more with the other broker.


  10. That is very interesting, if i could get your bullet rate that would be incredible. The .009 for comissions seems to be really high but 1 cent bullets is insanely cheap. It appears to me that the whole industry is headed for even cheaper rates. I hope the firm i am with catches up soon.

    Thanks for the info and happy trading
    #10     Dec 7, 2002