Discussion in 'Prop Firms' started by jmathers34, Jul 1, 2002.
I don't know, mine all say .787 as contra broker. I suppose there is a list somewhere. ??
I can't get the list , but he has by far the highest fees. If I could find out who it is I would avoid using them
If so they are BRUT...TAALLL
I checked and it is Instinet (INCA), although we don't pay additional fees, I know they can be high.
thanks for the info
Don or anyone else using a pro firm-
Are there ANY additional fees per-share added on? Such as "clearing fees", or SEC fees to any stock transactions?
Typically, your reports at a prop firm will show your commission fees. The "clearing fees" are part of the overall commission you are paying. The other part is the prop firm's cut. Both parts should total to your negotiated rate with the prop firm (ie .01/share). This may or may not be broken out separately on your reports.
In addition, most if not all prop firms will charge you SEC fees on sell trades only. (.00003 * total value of stock traded) - note value of the trade, not # of shares.
thanks for your reply.
anyone else have anything to add.
Yeah, that's about it. There may be a charge for interest if you're carrying overnight positions.
We don't charge ECN fees or anything else like that. If you're "shopping" be sure to see that the fees are "all inclusive."..
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