has anyone experienced unlimited trading?

Discussion in 'Prop Firms' started by kipster, Sep 14, 2011.

  1. kipster

    kipster

    6 months ago, i was offered unlimited trades for $600 flat per month. ended up not joining but was wondering if anyone else has had these type of deals before? my commissions costing too much these days at my current firm so wondering if this was a good deal to hop on? This deal still seems to on the table for me. 600 flat per month and i clear at .0004 per share. Regardless the volume i trade whether its 100 shares or 1 million shares daily, i supposedly pay the flat 600 per month.

    thanks

    kip
     
  2. rmorse

    rmorse ET Sponsor

    I assume your orders are routed to a manged route where an equity market maker holds your orders, rather than Direct Market Access where you choose and receive rebates and have control. Opening and closes can be unpredictable with managed routes. You don't get the primary market price.
     
  3. This "could" be a problem (only "could" be)..would need to know more info. How much capital are you putting up? How many shares could you buy and sell? Kind of like "all you can eat pancakes" - how many pancakes can you really eat, LOL.

    If its all real, tell them I have a few million shares per month that I can certainly pay $600 for executiion and cleariing.

    Seriously, just get all the details. Sort of like "unlimited shares" for $12.99 per trade, but if you can only afford to buy 500 shares, not such a good deal.

    Don

    edit: if this is a Canadian Firm, then you have a whole different situation, you may want to PM me.
     
  4. that doesn't sound like a very good deal. comparing it to other firms, that is almost 100 trades a month, which you cannot guarantee will be profitable each month. also, is it really unlimited trading if you still need to pay per share? you can get a better deal at certain retail firms, but i suppose you want to be at a prop firm because of the amount of your capital?

    and if you don't mind me asking, what firm is offering this deal $600/month deal?
     
  5. kipster

    kipster

    no it was direct access, get to choose from several popular programs like sterling laser etc. _I get full ecn rebates. _And unlimited trading for 600 per month and clear at .0004 per share. _This is regardlesss i trade 100,000 shares per month or 10 million shares per month. _Flat rate of 600 per month plus .0004 clearing rate. _And seems like i _will get full ecn passthroughs. __not bad it seems if i do even lil volume. _

    Thoughts? _
    Anyone do these monthly unlimited deals?
     
  6. there are quite a few retail firms that offer direct market access. i dont understand how it is a flat fee of $600 a month if you pay per share
     
  7. The per share fee seems to be a clearing fee. Does not sound like a bad idea.
     
  8. i trade pink sheets, sometimes it's like 500,000 shares a week. so isn't that an extra $500?
     
  9. kipster

    kipster

    prop firm usually wont allow pink sheet trading... _giving 200k bp for pink sheet trading ? _doubt it.

    hmm $600 unlimited trades cleared at .0004
     
  10. rmorse

    rmorse ET Sponsor

    How is the firm capitalized? You're going in as a class B member of a firm that is only making $600/month, per trader. I'd be concerned with the safety of my capital. No SIPC for firm money.
     
    #10     Sep 15, 2011