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.
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