+1 except that I will take it a step further and say that most prop firms are paying in the range of 12-18c per thousand shares and rebate trading at 30c per thousand is a really good algo because 30c per thousand is expensive. If you pay 30c per thousand just know that your prop firm is making a 15c rip on you so don't split a dime with them.
Hey Winston If you can get 30c per 1000 and no split then please spill who is offering it as I am in! London
Are you insinuating that Sir Don Bright is overcharging his arcade traders? He said 3 mil is a good rate. I believe Don Bright. He can't possibly rip anybody off. Say it ain't so. My heart will be broken. No, it will be shattered. I will cry two rivers for a month. I was very interested in his $50k elite trader trading courses just so I could speak like an elite trader. I don't really care if I can trade like one. That would be asking for too much.
That's not too shabby. I probably will have enough to afford a 1969 BMW after I pay for food, clothing, and shelter.
No I don't think Don is in this space. His traders trade pairs, openings and other methods which require the ability to overnight and use big leverage. I think $2 per 1000 is nearer the mark if you are not doing rebate style.
Winston: How much and how long would it take to setup a 'mini-prop' llc in the US to handle 5-10 foreign 'prop' clients doing only SPY and options on SPY?. ES and other futures too, if possible. Zero client business with US persons. Idea is to lower credit risk by cuasi-self-clearing. I.e.: The 5-10 'prop' clients would directly or indirectly control the llc. All legal and compliant please.
the lowest ES comms I have seen are 96c a side for exchange members through deep discount trading. I am sure others are getting lower. If I could get $1 RT's on the ES all in I would love to have a go at scalping it, would be happy to pay away 10-20% in a split to a prop. Any got this then please chime in. gunna start another thread on the lowest ES commission