Looking at changing firms

Discussion in 'Prop Firms' started by ttbodnar, Jan 7, 2006.

  1. ttbodnar

    ttbodnar

    My current firm does not want to budge on my commission charges and has not changed them for me since I doubled my volume so I am trying to find a firm that will meet my needs. I am series 7 certified and trade between 3 million and 3.5 million shares a month mostly NYSE stocks. I am looking for a firm that only requires a 5k-10k deposit, would provide at least 20:1 buying power, a payout ratio of at least 80% and a commission rate between .001- .0025. I can trade in Chicago at an office or remote if necessary. If anybody knows of any firms that will meet my needs I would greatly appreciate it.
     
  2. The BP and payout rate as well as the deposit are doable, but I really doubt you will find anyone willing to pay you .001-.0025 with that little volume. 3mil-4-mil is good volume no doubt but to get a rate that low, I would expect you would need to do at least double that volume. I know guys at my firm, who do 5mil-10mil shares a month and are MAYBE at .0025, but def not lower.

    But then again, its worth a shot to post here. Maybe there are better offers out there. Doesnt hurt to try :D

     
  3. silk

    silk

    I think i Pay .004 and I trade 4+ million shares a month and have 20 times your deposit down.

    If you are asking for .001 I assume that you already have much better deal than me already. If you have .002 or .003 already seems like you are doing well. I never think about commissions at .004. Never thought of them when they were one .007. If you happy with the firm wouldn't worry so much unless you are a penny scalper, then i understand.

    Guess I have bad deal?