Hello, I was recently talking with Lake Street Trading, but they cannot meet my needs. My strategy has a very high win ratio, but it relies at least partially on taking advantage of morning gap ups. What type of overnight leverage on stocks under $1.00 can you offer to an experienced trader? Are there any extra fees associated with that? Are you able to take advantage of the API available to DAS trader pro that other firms offer? My strategy is at least partially automated, so I will need to have access to the API that DAS trader offers. What are the software and data fees? Do you offer a per trade commission, and is there a cap on the number of shares at that price? I only trade very high probability setups, so I may only make 1 trade per month (lowest frequency possible), but most of the time I will make many more trades than that. What type of inactivity fees will I face if i only make 1 trade in a given month? Can you also confirm that the stock NSRS is not blocked by your clearing firm? The last firm had it blocked. If your firm can meet my needs, please respond with contact information. Thank you, Chris
prop firms are not interested with anyone trading sub dollar stocks stay with using a retail account for trading
Most props will not offer you acces to anything on PINKS or most anything under a dollar...especially sub-penny. If you talking NSRS, you will need to stay retial. Not meaning to say you will never find a prop that will allow you to trade these BUT 1.) it will not be cost effective to you as a trader commission-wise 2.) You will have a VERY hard time finding any props that will allow it..
Evo and Hit are correct. Not for any nefarious reason, it's simply that stocks under $5.00 are 100% margin anyway, even with us.. called "non-marginable" - so no benefit to trader or firm. That being said, we do have some guys who tie up their capital holding long, cheap positions. They need to be called in, cannot trade electronically in most cases. FWIW, Don