passthru and propfirms

Discussion in 'Prop Firms' started by .00019orbust, Jun 7, 2008.

  1. how much of your pass thu does your prop firm shave for themselves.

    for example, you get .002 instead of .0025 for providing on xyz ecn.

    i am personally guilty of not keeping an excel sheet to track each and every single trade. the only way i know, is if i trade 100 shares and then check the statement later.

    its almost 100 percent certain in my mind that this is a common practice.

    now before you idiot shills get on here to completely destroy this thread i'll just preempt your bs now.

    shill: "Stop worrying about fractions of a penny and focus on your trading"

    shill: "Who do you trade with"

    shill: "Prop firms wouldn't do that, because its dishonest. and they never do anything dishonest."

    I mean is anybody else tired of your own firm trying to screw you on this, and then when they get caught just say something retarded like, "oh, i didn't know, it must be a glitch we'll have it fixed right away"
  2. how much money have they screwed you out of?
  3. something didn't add up before, but since then i haven't checked. I know a buddy of mine found that his pass thru numbers weren't adding up after putting on 100 shares.

    there could be any number of reasons why, so i'm not jumping to any hard conclusions, but it wouldn't surprise me if somebody out there was getting screwed on this.
  4. During the past year or more ARCA and Nasdaq having been changing their pricing schedules every other month. A lot of BD's and software firms are complaining about this because it is a pain in the butt for them to constantly be changing their pricing schedules. So if you find your ECN schedule isn't upto date on the most recent price change, it really might not mean your firm intentionally didn't change it. They might not be aware of the recent change. That is why you need to keep current on this yourself and tell your firm to make sure they are current.
  5. wucah


    The rebate you are talkinga about I think is only on Nasaq. Your firm will be given it when it his 25 mil volume per day as per their schedule. Some months your firm might hit it and other not. You need to be with a trusty firm that will tell you if they hit it or not and give you the credit on the particular month.
  6. That's pure grade 100% BS. When the ECN rates change and the firms don't change it and it's to the disadvantage of the trader the firm is intentionally trying to scam money out of the trader. My understanding is that to some degree pretty much all the firms will engage in this behavior (maybe Don Bright will come in here and say he doesn't, but he's charging $8/1000), and when you notice it, contact the firm and they will change it for YOU, but not for others, but that's none of your business.

    Whenever the rates change, or whenever you switch firms, make sure you are getting what you are supposed to be getting. If you're not getting what you should be, don't go on elite and make a scene, just firmly talk to the man in charge and tell them you don't give two shits what they do to other traders but you want your full rebates.