I was wondering if anyone here has any experience with Photon either their remote trading or their on site trading arcade. I was curious as to what their rates and fee's are as well as the quality of education they provide. Any input on this firm or any similar firms is greatly appreciated.
Their rates are listed on their website. It's $1000 per month minimum cost for first 3 mos. That is for the commission and doesn't include exchange fees. The rate is $0.35/side and goes up/down after the first 3 mos. based upon volume from the trader. I assume that you are seeking to learn how to trade. If not, then you probably should go to a different shop. Look on the CME website in the Globex section for a list of Prop Firms.
I called to ask about their rates, and asked what the training was about. The $1000 per month is for training, and you get the .35 per side commission while in training. After you go to a volume based rate, I think they told me was $1 per side max. They primarily use MF Global for clearing which I questioned about any worries, and they said they weren't worried, but could open with another firm also if desired, but they seemed to prefer MF. Also yes the Futures Path and Photon trading seem to be the same company.