I believe VTrader offers each trader different rates. Beyond that I am not familiar with what VTrader offers so I cannot make a comparison. We do offer a cool game room where traders can relax. I will post more of what we offer shortly.
Massage/happy ending Friday would explain the desk fee. I have no affiliation with VT or any prop firm. I realize you're going to elaborate further, but do you charge a vig on overnight leverage [on short gamma]?
Steve, Can you please elaborate on software fees. I saw on your website the diffrent softwares you have available. I assume they aren't included for free, can you please give us the pricing for the different softwares?
Our interest rates can be found on our website. If I understand your question, the answer is no. We do not add a surcharge on overnight short gamma.
Sterling and ToS are both around $250 / month. Market Data fees are pass-thru. Portware (for algorithmic basket execution) is free. Bloomberg is (last I looked) around $1400 / month. If I missed anything let me know.
i would consider myself an expert on prop deals and different platforms. i've analyzed all steve's responses and his site. #1 for stock trading this is not a good deal at all. .002 and paying 1k a month is a horrible deal. in addition paying a $250 software fee for sterling. thats over coming $1250 a month in fee's before you see any benefits. to pay $1250 a month in fee's we have to assume somebody's doing at least 1.5 mil montly vol. one can easily get .0015 retail with sterling and save the 1k fee. also the site says 50k min desposit so i'm assuming most put in 100k. the site acts like one must be there a while before they get leverage so you probably get little or no leverage in the beginning months till you prove yourself. REMEMBER YOUR DEPOSIT IS NOT SPIC INSURED SO THATS A LOT OF MONEY NOT INSURED. when we speak of tuco guys they were getting 30-1 to 50-1 leverage with no more than 25k down and rates similiar to the .002 for high vol guys.i don't see were under any situation somebody would not be much better off with a well known llc and much less of your money tied up. it says on the site that people need to have been series 7 licensed in the past accept for rare circumstances. again thats because if you're a member of the cboe or philly exchange you can accept previously licensed traders i believe. as far as the options or futures portion of this i guess if you do huge vol its ok. by huge i mean 1000 futures or 1000 options trades per month.IMHO THE ONLY WAY I COULD SEE A TRADER DOING THIS IS IF HE TRADES HUGE ,HUGE VOL IN FUTURES OR OPTIONS AND GETS BIG LEVERAGE FROM CORNERSTONE. steve please critique anything i've said that may not be accurate
A few questions. Futures commissions are stated at $0.10 a side - are member or nonmember exchange fees charged? Is the balance of the capital contibution returned when leaving the MTO? Is the $1000 monthly fee shown on the annual K-1? Other than low commissions, what does the $1000 monthly fee give a trader?
Steve, So if I trade options with your firm, my orders go to the exchanges as customer or firm/broker dealer?