Their rates have always been rock bottom. Of course once you traded there, you saw why. You ppl need to do a search on them. What's funny is that those threads do not even come close to the nightmare stories I have heard.
I imagine they're competitive with the dicier firms, but Hold couldn't ever compare to Genesis on software and I'd bet rates as well. I think you have to pay $30 per 1000 to short 50% of the stocks on NYSE, every time, no ifs ands or buts.
i suppose u did trade with 'em; was thinkin' about joinin' either hold bro or echo soon; are u hintin' they no good?
Their commish rates are competitive , but wait until you want to naturally short a stock. If it is in their SAI inventory, prepare to pay $20-$30/1000 . In this hybrid environment, that is a big vig to overcome.
I completely disagree. I've used both and see no advantage to Greybox whatsoever. Genesis Laser is ok but definitely NOT better. At least Hold puts up-to-date versions on its website, tells you when they add new features, and has stop orders that actually WORK. (P.S. As a side note, it's hilarious how clueless support people are at Genesis. For example, no one seems to know anything about why their stops don't work anymore, and their spokeman Serge chooses not to respond to repeated inquiries.) Genesis Laser is far from perfect, even if you ignore their crappy hotkey interface and horrendous charts. In fact, they just recently had to revert to a January version of their software because of recurring problems with their latest versions. And Genesis support is notoriously poor as well. When you email Hold Brothers support, you actually get a quick intelligent answer....definitely something you DON'T get at Genesis.
Yeah Sai's are around $25 per thousand but now answer a question for me. How often "CAN" you get naturally short they exact second you want ??? Prob very few time and you will need to send super ECN's and wait for an uptick. Hold on the other side can short on downtick thanks to their SAI program.
Yeah, you're very right about the support aspect at Genesis. And their charts are crap, but most everyone I know at any firm uses 3rd party charting software anyway.
Heh, I don't know about you but it's not that hard to work level 2 a bit to get short naturally, unless you're pounding on every dime drop. To take that away and charge me $25 or whatever it is every time is not a positive trade off in my opinion. The point is, when you charge cheap rates but have a backdoor trick like that, your rates really aren't that cheap.
DB good point. When I was there they have SAI's on really thick stocks like GM, WMT. To each his own I guess.
Genesis as a broker may fall short, but i had luck finding a firm that uses Laser and their support is far the best i have seen. i don't trade big with them, started trading with Cy Group recently. they have a decent site http://www.cygrouponline.com . they pick up the phone, have a trader chatroom etc. I think in a wierd way, in my experience , it was better going thru a group of genesis. but nevertheless i am using Laser, and i think its very solid. the execution speed is better than gray box. i have a buddy that uses it and complains alot. Also you are right, laser stops not working, that is a pisser. Anyways on the topic, congrats on a prop firm ringing the opening bell.