how is my new prop firm?

Discussion in 'Prop Firms' started by masterwoo, Oct 25, 2011.

  1. Hi, I am now trade remotely with a prop firm. I get the deal like this:


    5k deposit, 100k BP, but they only give me 50k right now.
    commission 0.004 per 1000 shares
    Ecn fee pass through to me, around 0.0029 per 1000 shares
    100 payout
    laser platform
    $130 platform fee per month plus market data fee which is around $100


    So I trade around 20k share the first day, I was gross up $71 dollar, but I end up loss $81, because the clearing fee is 0.004 X 20K, plus ecn fee 0.0029 X 20K, which the total fee is around $152, not including the sec tax....


    How is this deal, guys?
     
  2. cstfx

    cstfx

    Stop taking liquidity/using market orders - it should cut your costs in half
     
  3. Thanks for the reply, I will try, but I am a more momentum trader, like to jump into the moving market, so I have to use market order to get filled, but generally do you think my prop firm is a okay firm?


    Thanks!
     
  4. promagma

    promagma

    That is a pretty typical deal for someone doing lower to moderate volume or who is just starting out. Not bad at all.

    If you start doing 100k shares/day and more, you can probably negotiate something lower.

    If you build a good track record, there are firms that will give you huge buying power and much lower commissions in return for a portion of your profits (not 100% payout).
     
  5. I c, thank u for the reply!
     
  6. hitnrun

    hitnrun

    that is a high commission.
    typical deal for firms that overcharge there traders
    should be more in the 2.50 range for anyone that is doing 500k plus shares per month
     

  7. 2.5? sorry, what's that means? how much per 1000 shares? including ecn fee?

    Thanks
     
  8. hitnrun

    hitnrun

    .0025 per share

    2.50 per 1 k shares base rate

    ecn charges or credits are seperate for everyone usually
     

  9. get u thanks, i was talking to another prop firm (jcgroup trading), off shore operation, they offer me 0.001 per share, I was kind of scare of such a low fee, since I didn't tell them how many share I may trade, the payout was 90/10, I may try them in the future. That was unbelievable low.
     
  10. hitnrun

    hitnrun

    masterwoo

    they offered that because your giving up 10 % of profits.

    you should jump on that deal. pay 1.00 vs 4.00 dollars


    What prop firm do you trade with now?
     
    #10     Oct 26, 2011