I'm trying to find a firm that will allow remote trading, and charge the lowest possible commission per share. I will pay for all the communication lines as well as software and equipment. Thought of grouping together several traders to deliver more volume to the firm. If all works out, could be many millions in volume per month. All ideas or comments really appreciated.
Predictor, I think that IB offers so of the lowest commissions around although I don't know much about their executions... leland
This thread belongs in a broker section --not a software section to Address your question though visit the discussion tab, than click on professional firms/ retail firms as the discussions are quite active on different brokers You are more than welcome to join the firm I'm with and if you do any type of volume will definitely pay less than a penny per share as they have a cap on commissions and offer rebates for volume. They won't allow you to group lots of traders together though as they already are. See professional threads for ideas and more info. rtharp
I think one cent per share is about the lowest you can get. IB offers that. If you trade over 500 shares then you only pay half a cent per share. IB is very good for beginners, but if you are doing fast trades and trade larger shares you definitely want to go with a firm that offers order entry that is integrated into your charting platform as well as "point and click" executuions.
Guys! If you trade with a prop firm you don't want to pay any more than a penny per share, especially if you trade millions of shares per month. I was hoping to team up with a firm and get maybe 3/4 of a penny on large volumes.
I need to address one thing, you just mentioned Proprietary firm Predictor. Proprietary means you trade for the firm, not yourself and they keep a % of the profits. It sounds like you are looking for a professional firm, which means you trade for yourself with the firm's capital. BIG DIFFERENCE! Just wanted to make sure you are aware as it seems you weren't. Feel free to send me an email if you want to join with the firm I trade with. There are a few that let you pay less than a penny including mine, but I would encourage you to just read the professional firms thread., Margin Rates of 10-1 thread , Bright, Echo, and a few others as these topics are heavily discussed already. rtharp
Predictor, I may be able to suggest a very attractive option for you. Email me with details on how much volume you can put together. Jeff jtrading2@excite.com