Understanding the real whsle cost would be a valid question in my opinion incuding the rebates and perks. Everybody is entitled to make money. How could any trader critisize another trader for wanting more information?...
Why would a professional business tell me these intimate things ? If I can't ask such a simple question in a so called "Elite" traders forum then where can I ??? I am in discussions with a potential firm about opening a local office BUT before I waste my time,money and energy doing my due diligence, I don't think a simple post in here would hurt. I'm just curious to see what kind of initial feedback I get.
Joab, May all the good happen to you that you can find. Your a great American...Make the system work for you and discover what you can, and do not forget to share the information with us here n ET. WE NEED MORE ENTREPRENEURS!
Would you like some cheese with that whine? Talk to several MANAGERS @ several prop shops and compare answers. Start out by introducing yourself to your own firm! Opening a firm and never even visited one is like opening a restaurant and never eaten in one. You only have a small handful of people that actually trade on this web site! Good luck.
if you are paying .75 and are actually a profitable trader, and are doing some kind of volume, minimum2-3 million a month. Squeeze them under .3, in my experience these people dont deserve anything, most of these guys are just scumbags... They dont deserve any loyalty...its all about the $$$
It depends on how big your firm is: i.e. how much volume goes through the doors. The clearing firm usually has fixed costs in the range of .001 to .002. Everthing on top of that is profit. Multiply .0055 or .006 (.0075 - .0015) by your average daily volume and voila!
WHEN THEIR RUN RIGHT THEY MAKE MILLIONS AND MILLIONS THE KEY IS THE OWNERS REALLY HAVE TO BELIEVE IN WHO THEY HIRE TO TRADE M LOOK FOR SOMEONE WHO REALLY BELIEVES IN YOU
day trading prop shops charge a desk fee, data fee, commissions, charge for losses, and have incredibly tight risk control so the trader cannot make money. they are kind of like a boiler room but the clients come to them.