How do Prop Firms Avoid Insane Data Fees?

Discussion in 'Prop Firms' started by newwer, Sep 2, 2020.

  1. Millionaire

    Millionaire

    #11     Sep 3, 2020
  2. newwer

    newwer

    #12     Sep 3, 2020
  3. Millionaire

    Millionaire

    I did mention this to IB once, they just ignored it and gave the standard line: Company means professional data rates.

    So i stopped pro data from IB for my company account. Just used them for execution ;)

    I no longer trade with any of my IB accounts, they are dormant these days. I also switched to pure retail.

    Are you day trading futures with IB? Margins are so high. I moved to AMP a few months ago. Im finding them so much better than IB for day trading.
     
    Last edited: Sep 3, 2020
    #13     Sep 3, 2020
  4. newwer

    newwer

    I use Tradovate for futures and IB for options.
     
    #14     Sep 3, 2020
  5. for llc account, If I use data from IQFeed, do I still pay professional data fee for multiple brokerage accounts? In this case , I should be able to use IQFeed data anyway I want, right?
     
    #15     Sep 3, 2020
  6. newwer

    newwer

    Yes because many brokers don't even allow execution on their platform without data connection. If you execute via API then that is different but you have to build the software to do that.
     
    #16     Sep 4, 2020
  7. Quark

    Quark

    No, LeeLoo does not subsidize. From their website:

    You will not be trading a Live account. After successfully trading an Evaluation Account, you qualify to trade a Leeloo ‘Performance Account.’ Our Performance accounts consist of you trading a Simulated account, and the opportunity for Leeloo to copy your trades into a live account with proprietary software. Leeloo found that there are far more benefits for our traders to operate Performance accounts in this manner.
     
    #17     Sep 5, 2020
  8. bone

    bone

    Is your Prop Firm registered as an Electronic Corporate Member (Rule 106R) with CME?

     
    Last edited: Sep 9, 2020
    #18     Sep 9, 2020
  9. newwer

    newwer

    no
     
    #19     Sep 15, 2020
  10. newwer

    newwer

    Here is the shift that has happened:

    1 Exchanges have transition from just collecting exchange fees to collecting exchange fees and very large data fees. (big cost increase for traders)

    2 Brokers have transitioned from running a simple commission collecting business to a business that relies more on charging margin interest and selling order flow. (big cost decrease for traders)

    Difference between #1 and #2 is exchanges are monopolies and brokers are not.
     
    #20     Sep 15, 2020
    qlai likes this.