Can someone give some ballpark numbers for the fees at Genesis? Multiple people in this thread have said how inexpensive they are but their website doesn't list the pricing.
im in the UK. I want to try daytrading stocks but dont have 25k. I was told that you dont need 25k with these guys? What are they like. What sort of fees are there? Do they accept people frok the UK?
You should've seen what it was like ten years ago in the cowboy days of daytrading. I was at Broadway Trading, which was one of the most well known at the time, and they logged you in on a computer and your account was live on that computer all day until they logged everyone out at night. When you went to lunch, when you went home, whenever, that computer was live with your money. Anyone could have traded on it when you weren't there. It's easy now to call anyone an idiot for subjecting themselves to that, but that's just the way it was at the time, and I never heard of anyone getting their account played. If anyone had taken advantage of someone else's account, it probably would have been the last thing they ever did on this earth.
who can answer my questions? This is all new to me as things work different in the UK. Do genesis allow UK people to open account with them? What type of account would I open considering that I want to daytrade (no PDT restrictions) with less than $25K ? (llc or individual??) Is there anything im missing? Any trading exams I must have passed or not??
I just spoke with someone at genesis. he said You DO need $25k to be able to daytrade with them. I dont understand why there are so many posts on this forum saying you can daytrade with them with just $5k and such?!
Posted from someone at stockfetcher.com a little while ago: "it is very easy to overcome PDT rule. Just do not use broker who follow PDT rule! There are dozens of prop firms who can give you 1:25 margin with $5000 account and no PDT rule. I'm using Genesis Securities, www.gndt.com, they don't have any PDT rule, minimal account $5k and initial margin 1:10, I have comissions 0.008/share @ Genesis. Alex"
Firms like Genesis, Goldman , and others use caller ID system to help verify it is the real person calling. Assuming they have your home and/or cell number...once you call it automatically identifies you as the "real acct holder". Major banks like Bank of America, Wachovia, Citibank, and many others incorporate this system as well. Some of them are even incorporating voice recognition technology, but for security purposes they dont let anyone know they use it......
Don't care. Been with them for 2 years and NEVER had a problem with security. Just my 2 pennies though. I love Genesis. Best broker I've EVER had for commissions and service. Hand down. Laser could be a bit better though.
Genesis has the right business model... They own their technology.... Fast executions.... They are highly responsible for bringing and keeping an efficient commission structure... The Mom and Pop firms who spend a lot of money advertising with their customers money cannot compete.... They self clear..... .................................................. Notice how they are still around and just getting started...... MER, LEH, Bear, and others are gone.....the supposed safe firms..... ................................................... Genesis will be around for a long time.... And when the commissions drop in Asia and Europe.....hopefully because of BATS....I am sure Genesis will offer these venues.... Hats off to Genesis......