Low Fees

Discussion in 'Prop Firms' started by jptrader62, Feb 25, 2006.

  1. I would like to know what the lowest fees would be for executing volume. I do over a million shares a month in and out and I want to know if .005 is a good rate. To me its too much. I would like to hear some feedback. Thanks, JP
  2. You can do a lot better than that. Have you check out RML Trading? I pay $2.95 per trade.
  3. I do btw 1.5-2.5 million shares a month and I have .00375, so you're rate is ok. I am sure if you wanted to, you could find a lower rate somewhere else but I dont think .005 is that bad for your current volume. Just make sure that if and when you do start doing more volume, you are able to negotiate a lower rate with your current firm.

    Good luck. :)

  4. what are the lowest fees -all in- for futures trading
    without leasing a seat or being a member ?

    I assume the more volume one does or the more profitable one is the better one is able to neg.
    a deal somewhere
  5. There's so many variables that go into deciding if a rate is good or not.

    How much captital do you have with the firm? Is there a profit split? What kind of buying power do you get? How much overnight leverage can you use? Do you trade the same stock daily, or 100+ symbols? Is there a monthly software fee or other hidden charges?

    If you are a typical prop trader with $10k in capital, flat at the end of the day, 100% payout, I'd say your rate is decent. .4 would be quite good for only 1M shares a month.
  6. Besides getting a rate of .005 I would get the use of up to 8 monitors , a $500 software allowance ( E-Signal, Bloomberg, ect), 30-40 times buying power , 15 overnight and a clearing firm of Merril Lynch. JP
  7. LowRisk


    Not knowing your experience or profitability, it's hard to tell if your deal is good or bad. Some firms I know charge even more. My deal is much better because I'm a very consistent trader. Consistency always buys you a better deal. 30-40 times of buying power is nothing to write home about. As far as software rebates and 8 monitors (I assume these are 19" or larger LCD's not dumb old CRT tubes)go, let's put it this way, there are firms out there that'd throw in 3 square meals a day and as much free water and soda as you want as long as they get to rob you blind up front. And I have seen and heard too many times during my 5 + years in daytrading, no day trading firms is more or less risky than everyone else. Firms out there love to tell you who they clear thru or are affiliated with as if charging you a premium was their God's given right. You could have the federal reserve clearing trades for you and guess what happens to your money if your firm is losing money.

    Good Luck
  8. LowRisk


    You call that a lot better. I just checked their website. What a rip off.