Here are my rates...I trade at Terra Nova Online. (using Realtick) I am well capitalized 500K+. I am fixed at 8 bucks per ticket no matter what volume I do month to month. The ecns fees are .0025 for Arca .003 for Inca and .003 for Isld. The fees for NYSE are .005. So for instance 1000 shares routing thru arca costs me 8 + 2.5(.0025*1000) = 10.5 2000 shares = 13 3000 shares = 15.5 (this is all assuming arca of course) . Now the thing is I trade size mainly 2-4 K per lot. I swing and day trade so for me it ends up much more cost effective with them. When I buy 3k shares thru arca..I pay 15.5 bucks (see above), however, my cost on a per share basis is 15.5/3000=.0052 per share basis all in. Now if I were using andover and paying .0035 per share and using Arca at their .004 I would be paying for 3,000 shares 22.5 all in inclusive or per share basis of 22.5/3000= .0075 per share basis all in. Now Terra Nova Online does not offer liquidity rebates unfortunately but I like routing thru Arca so it a moot point there anyway. So for someone like me who is trading moderate size most of the time and not placing 100-1000 share orders it pays to have my schedule instead.
These are the rates of a new prop. firm Emperian Global Markets (EGM) .67 cents per share for first million per month .50 cents per share second million per month .33 cents per share for all remaining shares Bullets 1.49 per 100 No software fees if trade over 35,000 shares a day EGM requires a Schedule 7 - $25,000 minimum and currently caters exclusively to the remote trader.
It's a series 7 required (and in some states the 55) not a schedule 7 (thinking too much about income tax)
Forgot to include that EGM's fees are exclusive of ECN fees (they give rebates for adding and charge for taking)
Samatrade, you just another crap office manager with nothing to offer except low rates. If you are doing this on behalf of Andover, you better watch yourself. People have found out who you are and have determined that you are nothing more than an idiot trying to ruin the marketplace. TRY OFFERING GOOD TRAINING INSTEAD OF JUST RATES. That is what makes good traders.
The above quote is so true. I don't see any evidence that sambatrade is an office manager trying to recruit. The firms he mentioned were pointdirex and etrade professional which both offer and advertise publicly the rates he mentioned. Nothing but truth there. Why would you say he's recruiting for Andover? Some people need training and some people already know how to trade and are looking for low rates. Why are you getting so defensive? Nobody criticized Lynx. The only thing I see sambatrade doing is offering some great advice to people who might want it.
Looks like Tradestocks149 is actually some office manager who doesn't like people to know what costs really are around the street. I'm just a trader who thought that the point of this site is for TRADERS to share information with each other.
I agree with Sambatrade, this site help us the traders know what is really fair to be charged, myself have gotten my rates down by 50 % if it weren't for ET i wouldn't be able to. thanks,
Using Andover and paying .0035? Umm, not unless you're trading like 250,000 each way every day, absolute minimum (and it likely would have to be more). Since you swing trade, I don't think you trade that much, so you wouldn't get a deal like that at Andover. Therefore, you are actually understating your point!