New Broker - Whats a good payout structure

Discussion in 'Professional Trading' started by Junior Broker, Apr 27, 2006.

  1. Hello All,

    Great forum here and so many helpful comments and opinions. I'm a new broker for an IB somewhere East Coast, doing the typical broker job thing...finding clients, quoting, helping them out, tech support on platforms and more.
    What is a fair payout/split/share on what I should be getting...I suspect they're somewhat trying to milk new brokers, hell, probably all the brokers.

    We get percentage of commissions...after exchange fees, clearing, tech costs, and the firms big chunk.

    How do we know...theyre giving us the real costs?

    What about getting part of the interest income? Does this exist, such huge balances but we dont get anything.

    What about getting part of fees, it seems our firm and the fcm have all sorts of fees...that make them more money than most small accounts ever generate in commissions?

    Whatever help would be much appreciated...I've been doing this for a bit now and I'm gettin more and more frustrated by how much money they make, how little they do, and now little I get in the end.
  2. Is the payout structure a main hours in NYC now....lets get some answers brokers?