broker boy as I worked for swift and now one of the their competitors I can tell you we pay VERY low commissions as well can short most any stock. momo
At Swifttrade you start approximately with 50k buying power. It will be raised depending on your results.
so 27 cent for 1000 shrares. so if one trades 100k day thats $27.50. a good trader can get .0025-.003 or so from prop and 50-1margin and keep 100% so at .0025 at 100k shares thats $250 day.so if a trader nets $500 a day he nets $500x60% or $300 - $27.50 for commish.with prop $500 -$250 which is less than swift. so to bet swift once would have to make over 600 day net or be less frequent trader. so for a huge grinder that trades huge swift not bd
Depends... If you trade 10k share clips and do 100 trades / day you would pay $0.20 (per trade) * 100 + $0.70 (clearing) * 100 = $20 + $70 = $90 total for 1M shares / day If you compare that to paying $.0025 ($2500 for 1M shares)... It becomes interesting if you trade bigger clips...
correct i was showing if one did big clips this was interesting as there commissions are good. but i'm willing to bet 80% of the time bu me breking up the order and scaling in i'll kill you avg trade price of buying 5-10k blocks at a time
Most people that i know that trade 5k-10k at swift are either using 1-2 tickets to get filled on slow moving ETF's, or are using smaller blocks of 1-2k many times to arb or catch quick moves, in which case an extra 20 cents is nothing.
i think the bottom line is if you're grinding trading huge amount of shares and make marginal money swift is good if you're making 1-2k a day trading 150k or less you're much better of on your own if you only trade 25 or 30k a day and only make 500 a day you're better off on your own. swift is great for massive share vol to make little money