Hey Redman Just before we begin, I notice you're using 'your' instead of 'you're'. The contraction of 'you are' is 'you're', not 'your'. No, no, don't thank me. So you're looking for a prop deal with your $1,000,000? That's interesting. In light of this Ummm... okay, now. Let's see. You are a hedge fund manager who is looking for a prop deal? But wait, there's more Hmmmm... okay, now. Let's see. You have $1MM and you make 80% per year but you are looking for a backer with whom you would split your profits? You know, there is a pattern emerging here. I have noticed you posting on several threads, and the theme is always A) How much money you make B) How much money you have, and C) How you are a successful hedge fund manager You seem to mention at least one in every post you make. Why is that? Sorry for the interruption. I just want folks to have a clear understanding of the quality of information flowing from this source.
My understanding is that if you want a low rate at Questrade you must also pay ~$6 per stock symbol traded each day. Apparently they attribute this to the fact that their clearing firm (Penson Canada) charges this surcharge. Can anyone confirm this? If so, and you trade a lot of stocks, it's not that great a deal.
yes it's true. U pay $6 per stock opened, but that fee is divided amongst all the prop traders. So, if 6 guys open the same stock you would each pay $1 that day to trade. It DOES add up at the end of the month but you come to accept it as an unfortunate cost of doing business there. Warren
I'm curious, are there any other significant costs there? I believe that they also charge $250/month for the trading platform?
That charge is for the level 2 data of cybertrader. I really don't think quest has much influence regarding that cost. However i wasn't paying anything as i was doing the min. # of trades (50 in a month).
If you lived in North York you could try getting a job with them. Trade for free? http://jobsearch.monster.ca/getjob....2006-02-23+13:31:45&Logo=1&co=xw74824655wx&ah
Bright is a legitimate option in Canada and Don has recently stated that we're able to take traders outside of B.C. on a prop. basis. There are cheaper places to trade, commission wise, but to find the all around package in a legitimate form that's been around for years is tough to do. If you'd like to chat more, please feel free to email or call us.