I didn't say that .006 is what they were offering me, I just meant that I wanted to do better then that.. I would think .004 is more line line if I'm under the 50k a day volume.
It is an SEC rule...you can call them instead of calling people names....people really respect that! When i called the SEC this is what they told me....I want to preface this by saying that I didn't fully understand all the SEC codes and regulations so if I butcher this I apologize. Basically if a broker dealer books your money as "firm capital", it must stay in the firm for 12 months. When it becomes firm capital the BD can use the funds for additional buying power. Again, please call the SEC yourself for an explanation if you don't like mine. They can give you the exact codes.
yep, thats it. Also the S7 is only needed by a firm if their SRO requires it. for example a firm under the PHLX requires the s7 while a CBOE-CBSX firm doesnt require it. the S7 has nothing do with leverage or the 1 yr lock up. the 1 yr lock up is an SEC rule. It will say it in the LLC paperwork as well.
Yes, now the site is shut down. Very transparent. Again, I stand by my original assertion, stick to reputable firms that have been around for long time, YEARS, not ones that change their names twice in 2 years or whatever. At the very least, one doesn't need the hassle, and at the most, one will lose their money. Its hard enough to make it as it is, why stress over the reliability of your firm, to save 0.001/share on your trades? Not worth it, IMO.