It does not include ECNs, because I am net positive for ECNs over that period. But the figure includes everything else: commish, SEC, TAF, etc. I do give up a portion of my profits, but it is nowhere near 40%.
@those who asked... that's not my 'deal', op asked what i 'pay'. i made a point about fees and context, and said i use decent order algos... translation, i'm not always paying the spread.
(My favorite discussion topic, LOL). You guys have to realize that some are using my friend's, (Charles Kim who heads up Swift Trade) business model which is based on an "arrangement" for ticket charge per day etc. etc. If I could get some of the rates that are spread around here, then I would have to sign up for my personal trading, LOL. NYSE has a "taking" fee of 18 mils now (they pay 8 mils). That shows up on a daily basis. The .004 per share ($4.00 per thousand) is what our traders pay for all shares above 1,000 on any given order. The first thousand is a sliding scale down to that level based on volume. We, too, have some "special" arrangements for traders in the 15million and up shares per month. Just trying to keep apples and bananas comparisons. I have traders who have come from the other major firm's(and, yes, some have left over the years for other firrm), and regardless of what may be said at times, all seem to be within 10-20 of one another. And, again, "value added" comes in various forms... some firms are better for some traders, simple as that. I think we are at or near our high as far as number of traders is concerned, definitely up from the 2006-2007 level. (I can't post exact pricing for obvious reasons, regulatory and otherwise)... but hopefully this note will put things in perspective. Don
I went ahead and calculated my cost including the profit split (again, without ECNs, because of the reasons I stated in my previous post). It comes out to 0.749 per 1000 shares (0.000749 per share). That's about double the previous figure of .0003549 per share which included commissions, fees, but not the profit split factor. Hope that helps.
Don't forget to include any charges you have taken out of the funds on a regular monthly basis such as data and software fees. All those charges add up and take a chunk from the profits.
I have never heard of anything remotely close to those rates. I would have saved well over 500k just last year with that deal. I really find it hard to believe a firm can offer that and still make money.
Yes it does. The only thing that is excluded : ECNs. It accounts for profit split, commissions, SEC, other regulatory fees. I'm simply sharing info here, not trying to create a commotion.
i think krazy's a lair. he said he does 9 mil amonth vol. adding in the profit split he pays his prop firm around $3600 a month(40 cents/1000 x 9 mil shares). so his base rate is 35 cents/1000. his broker would make absolutely zip on that deal at best and probably lose his ass.nobodyis giving that rate for a shitty $3600 a month profit split and losing there ass on the commissions. WHAT MAKES IT EVEN MORE BULLSHIT IS HE'S SAYING THE 35 CENTS /1000 INCLUDES SEC FEES. SEC FEES ALONE ARE MUCH MORE THAN 35 CENTS /1000 ON MOST STOCKS SO YOU'RE TELLING US YOU'RE PAYING NEGATIVE BASE COMMISSIONS?I TRADE MORE VOL THAN YOU. GIVE ME YOUR BROKERS NAME AND A CONTACT #.