Here is a retail firm that charges .01 for bullets and .005 for listed: http://www.choicetrade.com nitro
never heard of choicetrade(?) doesnt seem like a heavy duty shop. you could get these rates at any of the major firms, especially the ones who self clear. just avoid getting taken for a ride by joining under an LLC, deal direct. personally i trade at andover but that really doesnt matter, i don't want to influence you. do your own homework and see which place you like. my only advice is to deal direct and avoid joining under an LLC which takes a cut from your commissions and especially P&L
Yeah, but do they have SIPC? Do they have minimums (shares per month) in order to get these rates? nitro
no one wants to pay more than they have to in either commissions or bullets but if your profitability depends on that last half a cent or being able to enter orders with 4 decimals places then maybe you should consider some other line of work. trading is an art as well as a science and takes time to learn. everything you need to know is right there in front of your eyes. let us move on to something more beneficial to discuss... what do ya say about that folks....
I'm glad people are keeping this thread alive, and I hope they continue to do so. Anybody who day trades equities successfully knows that commission is EXTREMELY important!! In the current market environment, a low commission structure can determine whether a trader survives ... or is forced to quit. If you're not a day trader, or are a very low-volume trader, then I agree, commission is not as important as other factors. This thread has allowed me to keep track of the prevailng rates, and enabled me to negotiate a lower commission. This "last half of cent", that you say is unimportant, has added 10's of thousands of dollars per year to my botton line. Regards, Slave2Market
on the penny commissions. even the steve cohens of the world minimize their costs. they only pay more if the get more (info, liquidity, etc.) Nitro, they are SIPC, and the minimums are always a negotiated thing in addition to commissions, brokers are always trying to take money out of our pockets.
see youre forgetting one huge factor though... are you putting up your own capital or trading the firms???