Looking For A Firm To Trade With

Discussion in 'Retail Brokers' started by theory280, May 24, 2007.

  1. theory280


    i'm in my third year of trading now and making about $20k/mo, trading near 1million shares/mo. I have no cap contribution, am being charged 0.006c/share with 80% payout. i work for a sub-LLC at schonfeld on the retail side. no desk fees, but I have to pay for market data and reuters service.

    i am looking to trade at a REPUTABLE firm willing to offer 100% payout with 0.003c/share, no desk fees and free software service. i want to work on the anvil or lightspeed platform, or something just as reliable with a good short list. if you're able to recommend a firm here in NYC i'd appreciate it. (also considering firms out in cali). Thanks.
  2. theory280


  3. This sounds like a job for www.shillsecurities.com

    100% payout, no commissions, no desk fees and free software......only Shill can match that offer
  4. Do the math, at best, you are worth 36 k per year to someone who is putting up capital and taking risk, would you take that trade if you were on the other side? Add in costs to deal with you such as accounting issues, compliance, etc, and it's not even close to a good deal.

    Realistically, you may be able to get your rate lower, you can get 100% payout, you are going to have to put up capital, you are going to have to pay for your own software.

    FWIW, grass always looks greener on the other side, but take it from me, it rarely is. There are alot of shady people out there in this business, and they will find a way to squeeze more out of you. Your best bet, try to negotiate a better deal where you're at, just switching over to a new firm is likely to cost you three months of earnings, in lost time, learning software, and getting comfortable at the new office.