Rebate Trading - Ticket prices

Discussion in 'Professional Trading' started by WildWally, Nov 23, 2005.

  1. WildWally


    Hi everyone!

    I’m looking for some information about rebate trading. I would like to try and see if I can pull some additional money out of the market during slow points in the day.

    My question: What kind of flat rates are available on a per trade basis? Of course this rate would have to include passing through the rebates. Are there any limitations (trades must be smaller than a certain size, etc.)? I currently pay per share, and it would not be possible to rebate trade with this cost structure.

    I have been trading retail for a number of years and would prefer to stay this way, although I suppose if necessary I would be willing to open a separate prop account with a firm. (I had heard that some firms will only give you the deal necessary for rebate trading if you trade a prop account with them.)

    Thank you for your help.

  2. WildWally


  3. WildWally


    Bueller? Anybody?

    I searched through the threads and it seems people have done rebate trading to some degree.

    I'm looking for some nuts and bolts info in terms of which firms offer per trade rates, and what rates, restrictions can be expected.

    If anyone's reading this that tried rebate trading and found it wasn't a realistic means of scraping some extra money together -- I'd be curious to hear about your experience.

    Thanks in advance.

  4. try genesis
  5. GTC


    You may also try RML-QT or RML-TSG1.5 deal. They seem to have $2.95 per trade commissions +/- ECN rebates.
  6. alanm


    I don't understand why you want a per-ticket price. The nature of rebate trading is such that you get a lot of partials, have to move your orders around, etc. Every time you cancel that order, you'd incur another ticket charge. Some firms may consider a price/size change as a new ticket, too (i.e. you may not be able to sit there with a single order all day long and keep refreshing it, even if the market didn't move and force you to move). I think you need a per-share price with very low/no minimum per ticket.
  7. What company do you know of that offers well under .002 that makes this possible? With SEC, gross losses, and other fees, i dont see how per share is possible. I was always under the impression cheap per ticket is the only way to go.
  8. Maybe there's a broker out there that actually pays YOU to trade?:p

  9. mnx


    there out there...

    but I'd rather pay $.18 per ticket... ;)

  10. WildWally


    Thanks for the suggestion. Do you trade through RML?

    I just took a look at RML Trading's website. Seems like there's a wide range of pricing offered depending on volume, which makes sense of course. To get that $2.95 rate (their lowest posted rate), you have to do over 2,000 trades per month. The rates start at $9.95 (first 100 trades). Another example is 700 trades/month would cost $7.95 per trade.

    It's interesting that they offer several trading platforms to pick from.

    Anyone have any experience with RML? I did a search on ET and didn't find much info about them, and the Broker ratings only have 3 ratings that are a bit dated.

    One plus is that it appears you can trade retail with them, which is what I prefer.

    GTC, Thanks again for your help!

    #10     Nov 29, 2005