Does Genesis accept foreign prop traders, if not why, and if not will they anytime in the future?? Thanks
I assume this is only for OPENING positions. If I need to close a position and for some reason (technical) I have no access to your software, I should be able to close a position without extra charges. I have some other Q as well, I will contact you in the near future to see if we can work things out.
Just to clarify : from your website : Platinum Software Fee $ 250.00 per month (Waived, when opening an account with Genesis.) datafees also apply. ($42,- for all exchanges/ futs) Can you please explain ?
Is the prop arm of your business also registered with NASD? If so do your traders need the Series 7 and 55 to trade. Thank you.
To answer the questions: The software is free when an account is opened with Genesis. The $250.00 is only applied to: 1) Traders who use the software for analysis and not executing any orders through Genesis 2) Retail customers who have a very small monthly trading volume. Data fees: The exchanges, such as NYSE, AMEX, NASDAQ, etc. charge for each user to get their quotes. Those charges are separate from the software. You can subscribe to as many or as little as you choose. If you only trade the Qs, for example, you will need not subscribe to NYSE or NASDAQ. We are registered with the NASD, pcx and SIPC. Our prop traders need s7 and s55 to trade the prop account. Traders may also opt to trade through a retail LLC as well.
Hello, Can you be more specific? What is the minimum monthly volume required to get the software free? 10 000,..., 50 000 shares per month? Regards, Olivier
Serge, You should change the wording on your website that says the $250/month Software Fee would be waived when opening an account with Genesis ( http://www.gndt.com/comm_fees.aspx ) to including that there is also a minimum trading volume requirement in order to qualify for free software. Otherwise it is misleading to the public consumers. Your website leads them to think the software is free just for opening a retail account.
What kind of capital contribution is required for your prop traders? How much leverage is offered to them? What kind of leverage can a retail trader get? Basic PDT??? Thanks, Axe