Invitation to PM with a better deal...

Discussion in 'Prop Firms' started by ArcticTrader, Mar 7, 2006.

  1. ArcticTrader

    ArcticTrader Guest

    Hey guys,

    I'm not sure what the etiquette is on this board for posting what deals are available, but I am looking to open a prop account in the next 6 weeks or so, and I thought I would post the best deal I have found so far to see if anyone can match or beat it. I will not name the company, and this is not an invitation to advertise your firm's rates publicly... just wondering if anyone can get me a better deal, and if so, they can PM me with it. (If this a breach of some type of etiquette, I apologize in advance.)

    Please note that I am located in Canada, so some US firms that don't support Canadian traders won't apply to me. I trade a low-volume intra-day swing strategy, so I definitely won't be getting any volume discounts. I also don't need a fancy software package, just a simple execution platform that is reliable and can place orders relatively quickly (which I believe they all can). I also don't need Level II, if that makes things cheaper.

    Anyways, the best deal I have found is offering 0.005/share with ECN rebates, 80% payout, 10:1 leverage, and a basic software platform for $25/month. If anyone thinks that there is a better deal out there, feel free to PM me any time.

  2. ArcticTrader

    ArcticTrader Guest

    Hey there... still haven't nailed down a better deal at this point... I had someone PM me with a firm that was going to offer a better payout/commission, but the guy seems to have stopped posting and can't be PM'ed. So, I'm still looking if anyone wants to contact me...

  3. Sounds decent. 80% payout at .005 per share, with low volume.

    I guess it's a good deal. Question is, is the firm reliable, do you know you will get paid? I think that is even more important.

    Also make sure Golden is not in the name.
  4. 10/1 leverage is pathetic, there are much better deals out there with lower splits but 5/10 times that leverage (if u have experience).
  5. ArcticTrader

    ArcticTrader Guest

    This is true, but in my case the leverage doesn't concern me too much... if I trade profitably I'm sure the leverage will get increased if I ask, and if not then I don't WANT more leverage - I'd just lose my money quicker that way!

    The main things that appeal to me would be either lower per-share costs, a higher payout, or a per-trade type of commission that might make more sense than per-share if it was low enough...
  6. ArcticTrader

    ArcticTrader Guest

    It's not GMMI... the firm seems pretty reputable from what I have heard, so I'm not too worried about that...
  7. Why is GMMI not considered reputable? Please be as specific as possible
  8. ArcticTrader

    ArcticTrader Guest

    Just for the record, I didn't make that statement... just informing the other poster that it wasn't GMMI. I don't know enough about them to say myself.
  9. ArcticTrader

    ArcticTrader Guest

    Update: I misquoted the rate that is available, it's not 0.005 cents/share, it is $0.50/1000 shares, which is 1/20th of a cent per share, at 80% payout and 10:1 leverage.
  10. ig0r


    rofl you sure about that cowboy? thats an unheard of rate unless you're also throwing in a perticket comission and/or a hefty monthly desk fee.
    #10     Mar 13, 2006