Comission and Bullet Rates

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

  1. fatman

    fatman

    from what i can tell, hol brothers has one of the best commission packages out there. if you put down $$$$, i think the going rate is around .005 per share and .011 per share for bullets.

    everything else there might be a little messy, but it seems like the commissions are great.
     
    #81     Jan 9, 2003
  2. You're not getting those rates if you're a newbie. If you're putting up serious volume, then those rates are possible, but you also have to add ecn fee's into that number.
     
    #82     Jan 9, 2003
  3. fatman

    fatman

    what kind of volume are we talking? and what are newbies paying?
     
    #83     Jan 9, 2003
  4. You're talking about guys doing 150K - 200K a day. It can be slightly less, but it depends on how aggressive they want to be.

    Newbies pay around 1 cent a share for NYSE in my group. Certain NASDAQ Exchanges are a bit more expensive.
     
    #84     Jan 9, 2003
  5. nitro

    nitro

    I have an account with Choicetrade. I get .0075 per share listed all in (assuming routing to the ISI, which is fine with me and the order is non-billable, again fine by me) and 1.5 cents per share on bullets. No minimum volume needed.

    Those guys are IMHO the biggest threat to Interactive Brokers in here if the playing field was strictly commission and bullets.

    nitro
     
    #85     Jan 9, 2003
  6. Is Choicetrade a prop shop or retail shop? Choicetrade also doesn't provide the training he's looking for.
     
    #86     Jan 9, 2003
  7. nitro

    nitro

    Retail.

    No training. And the software is real minimal...

    nitro
     
    #87     Jan 9, 2003
  8. If you really look around you can get sub 1/2 penny with volume requirements of 10K per day.

    If you have your own capital anyone can get that rate.
     
    #88     Jan 9, 2003
  9. nitro

    nitro

    R U serious? Retail with SIPC?

    nitro
     
    #89     Jan 9, 2003
  10. Name me a place. And, you shouldn't have to pay any other fee's except SEC, the software and hardware are provided for you, you get 10+ to 1 leverage, and 4 to 1 overnight. You won't find a prop shop that will touch you with those rates at 10K avg volume. Retail shops take anyone with money regardless of volume, but I've never heard of one that provides you with under .005 all inclusive comm rates. Unless you can name one.
     
    #90     Jan 9, 2003