bigscalper I don't deny that there are many traders making good profits even in this environment, but the vast majority as we all know are not profitable, a small minority is breaking even or making a small profit and very few are making the big money. The answer to your other question is we are looking for experienced traders for the prop program.
the Vast majority is always unprofitable, that is the nature of the market and that is why a few always make a ton of money. Many small losses equal One Big Profit (for someone)
That "someone" is the vig collector. Most of the masses money does not flow to the successful traders, it goes to their brokers/prop firm shops in commissions!
1. $25 per stock fee every day 2. You pay 7% GST on all your profits 3. NYSE trades are 1/2 cent per share extra 4. Some of the ECN pass-throughs are marked up 5. You must make a subordinated loan to open an account and your funds are not covered by CIPF 6. Seat fees 7. $5 per day admin. fee 8. CyberTrader and Laser are average platforms at best 9. No overnight positions 10. Professional margin??? Their biz model is based on rebate trading and rebate trading, like all other highly publicized trading strategies, is destined to shrivel up and die. Nonetheless, I will say they're better than SwiftTrade but that's not saying much is it?
Well, it's still better than even 0.05 at IB when you trade a lot of shares. I know Swifttrade doesn't charge any comm., though.
Not just for liquidity trading.. If your style is trading one or a few Nas stocks- Trading 100,000 shares of a single stock during the day. Say you provide liquidity on half your trades, and take liquidity on the other half using INCA. The commissions: Quest = $230/day Prop firm = $600-800/day (at .006-.008 all inclusive ECN rates) This is better than any deal in the US right now.
You forgot to add a couple: 1. No accounts for Americans 2. Extra 1/2 cent per share for listed - oops you did mention that
if you want to rebate trade then find a broker that charges per ticket not per thousand shares. Eventually you will be doing 10,000 shares a pop and then it gets too expensive. Fee brokers in the US charging $1 ticket, 100% payouts, no BS fees.