...thats because you're a troll for assent. just kiddin. no really, you've never heard of anything under a 1.50? either you trade like warren buffet or u just don't care.
I am new to trading. The lowest I have heard was about 1.5 mils but if you do very high volume. I am not there yet. Other than that, the lowest I have been offered is 4 mils.
ic. well once you're not as new, you will care. u should start looking at this kind of stuff soon on, as it might give u an eye-opener as to how much an active intraday scalper is able to make. ithere are people who would prefer you to stay iignorant on this. as yourself this question. how much does the ave intraday equity scalper make per share? now ask yourself what the costs are. its not just the commish. Here'll i'll fill in some of the blanks. .001 (say thats your rate) .001 sec .001 pass through (lets just say you don't only trade nyse, or maybe you're just an active guy that takes a lot) so you're at .003 already. most new guys calculate out a .001 cost as their rate, and then maybe ignore the sec, then possibly assume they're pass thru is negative (they get money from it) i don't think most folks are negative on their pass thru unless they trade NYSE primarily. Its an eyeopener! u should really ask yourself that question again. how much do you think the ave equity scalper makes per share.
But these extremely low rates are for a prop or retailprop accounts only, where all the traders are trading out of one account, and all the trades in that account get batched by symbol at the end of the day. In this case the cost of clearing can be very cheap if the account is doing a huge amount of volume. But also remember that at these extremely low rates you aren't getting 100% payout. If you do the math you will see that it is more beneficial financially to pay a higher commission rate and get 100% of your profits than to pay 20c per 1000 and get less than 50% payout. A regular retail account can't get this rate, because a BD can't batch the trades across multiple accounts to keep the clearing costs down. So you aren't going to see a retail BD offer rates that low because their clearing costs for individual retail accounts are much greater. Because they can't get the efficiencies of scale that a prop account can, because they are dealing with multiple accounts not just one big account.
thanks for your response. My 4mils is just commissions ... with estimated fees (Liquidity, etc) that makes it about 7mils at the worst - 2mils (if provide liquidity). I am looking for something 5mils or less (with worst scenario fees) so I can get out of trades at penny and come out at tlease even. My strategy yields about 100k-200k shares a day.... Are there retail firms than can, or will, give beginners this type of low commisions ?
My rate if for prop, of course. Sorry if that lead to any confusion. I think 0.15 would be negociable, too, but I don't know if my volume is high enough.
If you're doing 2-4mill/month and paying .004, you are getting majorly ripped off. You're just throwing away 4-10/grand per month at min. ----- I don't think too many people get below .001 and retain 100% payout. Maybe a few people who trade high volume with sterling, but that's about it.