Prop trading Comparison

Discussion in 'Prop Firms' started by mcelitetrader, Dec 21, 2005.

  1. mcelitetrader

    mcelitetrader ET Sponsor

    Ive been on this board and find it useful....One thing I have been unable to find is a comparison of the current rates of the trading firms. I want people to message me about trading opportunities and to send the rates and deals they are currently receiving. I have been trading for 1.5 years and have been with three firms.

    I am currently in a situation with 3k down with 75% payout with an 0.80 ticket charge. There is a brut passthrough that is free and this is worth a great amount...makes every trade free except for the ticket charge.

    There is a monthly charge of 125 for the software.....currently no problems and i have to say it is one of the most solid systems i have traded on. There is a 50 monthly charge for the NYOB.

    I get ecn rebates....i can trade NYSE, AMEX and NASDAQ although i stick with NYSE

    My trading numbers are roughly 50k-100k shares per day with approximately 50 trades. I pull about 5k per month with this system and am still setting up the software and tweaking it to my specs. Have been here for one month.

    I want numbers..... I want percentage payouts i have shopped around. If you want to name companies excellent...if not we can message later to learn what the deals are.

    I have spoken with many recruiters,,,,,prop firms.....leeches.....and they all want to make deals......I am sick of it... Together we have the power
    I want a straight answer and I dont want to have someone tell me what I should be accepting. It is my money and I will make money wherever I am. The relationship between trader and broker should be of a symbiotic nature, not the cancerous version in which I currently find myself.

    All thoughts and considerations considered.....

    Eg. Swifttrade --> 35% payout with no money down.
    0.20 ticket charge
  2. mizer


    So if you do a round trip with 1000 share lot your only paying $1.60 plus ecn,sec,etc?
  3. mcelitetrader

    mcelitetrader ET Sponsor

    yep..... 1.60 plus sec

    ......80 cents a side regardless of number of shares..

    So....80 cents in....80 cents out....sec fees...+/- whatever rebates charges the ecns offer. This is the list

    NASDAQ Add Liquidity Remove Liquidity
    BRUT -0.002 0.003
    ARCA -0.002 0.004
    INET -0.002 0.003
    TRAC -0.0027 0.003
    SIZE -0.002 0.003
    ATTN -0.003 0.004

    NYSE Add Liquidity Remove Liquidity
    OES 0.0005 .0005
    BRUT 0 0
    ARCA 0 0.001
    INET 0.001 -0.0009
    Brutdot 0 0

    AMEX Add Liquidity Remove Liquidity
    OES 0.000525 0.000525
    INET -0.002 0.003
    BRUT -0.0023 0.0027
    ARCA -0.002 0.003

    Thats all folks
  4. zdreg


    it is not your money. it is the leverage the prop firm gives you that makes your trading possible.
  5. soler


    are u by any chance trading with questtrade? that $125/mon sounds like fee for cyberpro..if u are how is questtrad for Pro trading..thx?
  6. if you can twist words into a sentence like that, then you're too intelligent for most places....

    you can start with the Shoneys, Generics, Andovers/Assents, Holds, and on and on and on!

    A unique sybiosis has occurred with the usage of the SEC PDT Rule and the modified Reg T basis. Another hybrid has emerged where no affiliation or licensing requirements comes into play.

    Its called loosely: "sophisticated retail investor". It doesn't really mean anything, nor are there really any professional license affiliations.

    One thing is you're money is more protected in that manner than being licensed. When you call the NASD or SEC or your State Attorney General's office, then they will take that call and act. When you're licensed, then they give you the back side of their hand and close the phone and put you off as disgruntled. Many firms that are leeches, as you described actually count upon that rarely known, rarely discussed Wall Street reality to the detriment of the customer / broker / trader. So the solution then becomes gut instinct under who will protect your money best.

    Protection of your money and account quickly becomes the most important designator that you must consider. In this, trust your gut. There are two firms, right off the bat that stand out! The others, you have to weed your way through. These boards and thread discussions really help big time on that matter. PM me for names.
  7. zdreg


    would you please explain why you don't simply post your 2 favorite firms
  8. mcelitetrader

    mcelitetrader ET Sponsor

    Thanks for the intelligent response limitdown.......

    to this other guy....

    The reason i am on this trading forum is to improve my lot.... And it not being my is my money....when i lose my deposit I am finished.

    The upfront money to trade without the strings attached to my lack of capital is what I lack. I am not and currently do not have to be licensed although I am working towards certifying myself for self interest and also because a trader without papers is only as good as his/her last trade.

    Keep the number,,,,percents...payouts...fees...coming....more than appreciated.
  9. zdreg


    if risk management should fail your 3k will not cover your losses. any trader worth his salt would not be a member of such a group because he would have to absorb the loss of the other traders.
  10. mcelitetrader

    mcelitetrader ET Sponsor


    I hate directing letters in this manner but you need to stop hanging out and firing off useless information about things you dont understand.

    Prop firms hire individual and they take only allow losses up the amount of money down. When that money is gone you have no buying power. I am an independent contractor with all of the inherent benefits/risks of the arrangement. Limited liability is what makes this industry run. (laughs)
    #10     Dec 22, 2005