The rate of .075 is a distant memory. If you try to get hooked up with an average firm they will try to get you to pay 1 cent per share but if you say you will not pay that then the firm will cut deals. For a trader with no experience im not sure but for anyone who has been trading for a while .005 is more probable. Many traders have been knocked out of the game so competition is getting fierce. From what i have noticed bullet prices are getting real cheap. I have heard that some firms are down to charging 1 cent per share for bullets. Crazy stuff but it makes sense because it is a real tough market with not much movement.
I am currently paying .003 per share with a 1.5 minimum and a $5 max. I also get liquidity rebates from the ecn's. My bullets are .009 per shares.
Does this include ECN charges? Or is this all inclusive regardless of where you send the order, (i.e. NYSE, REDI, INCA, etc...)?
offcourse it does not include ecn charges. pay to takeaway liquidity and receice rebates for adding liquidity.
Just wanted to clear that up. As everyone knows, I run a firm, and I get calls from people on Elite who want these rates, and they insist that they can get them all inclusive. Thanks for clearing it up. Now I know where they get confused.
On good trending days, my volume is low around 100k or less. On choppy days my volume might exceed as high as 500k. I also have a bbox system that does little over 1 mil shares a day.