I want BUYING POWER + Low fees for SWING TRADING

Discussion in 'Prop Firms' started by liam79, Dec 29, 2010.

  1. Carlin?
     
    #11     Jan 13, 2011
  2. I'm not braindead. If I'd wished to mention the firm's name, I would have.
     
    #12     Jan 13, 2011
  3. Wow, I seriously was out of it when I posted that.

    I haven't done stocks/overnight in a long time... very correct in identifying my question as ignorant, as it was.

    Can anyone tell me what are the interest rates for overnight holds for a prop vs something like interactive brokers?

    Lets compare cygroup which has good reviews and is relatively easy to get into.

    I am curious here. If you pony up 10k, how much overnight will they let you carry of a stock (not ETF) and will the interest rate be higher?

    I understand with portfolio margin you can carry a lot more. Alas, I do not YET have 100k :).
     
    #13     Feb 2, 2011
  4. jjwalker

    jjwalker

    ya its called wall st survivor.........
     
    #14     Feb 3, 2011
  5. Very Good question. Right now I don't see an advantage of using a prop vs IB
     
    #15     Feb 10, 2011
  6. Calling CY as well as a few others tomorrow early morning.

    If anyone can report their experience as well I would appreciate it.
     
    #16     Feb 16, 2011
  7. Maverick74

    Maverick74

    There are many advantages to using prop over IB. If you like to keep positions on and daytrade, the problem is your longer term positions eat up your margin leaving nothing left to daytrade. At a prop firm you can hold longer term stuff and still have all your capital to trade intra-day. That is a huge advantage. IB also won't lend capital to you beyond your margin. Also, you get better tax treatment with a prop firm then with IB. Short stock rates are also usually much lower.
     
    #17     Feb 16, 2011
  8. Quoted overnight rate at CY about 8% right now vs IB @ 1.6%.
     
    #18     Feb 16, 2011
  9. Maverick74

    Maverick74

    That's way too high. Should be less then IB's. Ours is.

    I think you misunderstood CY. They probably quoted you the capital charge, not their debit rate.
     
    #19     Feb 17, 2011