Whats the best comm. split per 100 shares with no series 7 ?

Discussion in 'Professional Trading' started by pavlov0032, Jan 22, 2010.

  1. Hi!

    Can you please share whats is the avg. best comission for 100 or 1000 shares "round trip" if I dont have series 7 license?

    I have offers form MIG investment for 1 dollar per 100 shares "one way" 1:20 leverage and no series 7. That comm. seems kinda high for my style of trading.

  2. comeon 28 views and no one responded..

    this is not some secret, if you are trading why not share info?
  3. WTF do commission rates have to do with a series 7?

    A low volume retail trader might pay less or more than a "professional" trader depending on the house.

    Please go haunt a YAHOO board now.
  4. It has to do with retail vs prop commission rates..

    I think they are missing you on investorsvillage where you came from
  5. i am taking it that you need the 20:1 leverage? if not, IB can offer regular retail guys $5 on 1000 shares bundled or average less than half that if unbundled and you are adding liquidity most of the time(i have been averaging just over .002 per share with them). beyond that, JC gives 20X leverage as well as a rate definitely better than $.01 per share and last i was in contact with them, they did not require the 7.
  6. Yes, I read that.. I'm interested in LASER plaform .. Anyone trades with genesis or CY?
  7. doesn't JC offer laser, as well as lightspeed and sterling?
    either way, good luck:)
  8. bro59


    Yup, that's too high.
  9. RedRat


    Hi Pavlov,
    Why don't you ask the same question in the "Prop Firms" section of ET board? Except of commissions you should look into the payout ratio.

    I beleive you can get a discont if you trade volume. Unfortunately I personally do not trade stocks, but I want to in the future. Here are couple of links for you

    http://www.elitetrader.com/vb/showt...light=prop and laser and genesis&pagenumber=1



    Genesis itself can be a broker but AFAIK they require 50k or 25k as a trading account.
    The other option is Anvil Assent platform, there are many props who provide it. May be Assent itself requires S7, don't know


    Other props:

    As for Cy-Group send me a PM
    Best regards,
  10. bigpapi


    Ive posted this elsewhere, JC wanted 500 bucks a month in maintenance fees for an account trading less than 250k shares, that is ridiculous imo especially with so many other choices with much better deals.
    #10     Jan 29, 2010