Can somebody suggest a reputable prop firm for swing trading. As a swing trader, I am not too much concerned about per share rate (right now I am with Interactive brokers, so per share rate around that price ($1.00/200 shares) would be good) but more about haircut charges and overnight leverage. I don't do hedged positions, so I would prefer a firm with low haircut charges for unhedged positions and as for overnight leverage, anything more than 5:1 would be good (of course with the understanding that as I prove myself, the leverage will be adjusted accordingly). And also, i dont need a fancy software, just basic software for order entry (What I mean to say is, I dont want to pay too much for the software). I think I can come up with 25-35K.
you would be a fool to leave IB and go prop for swing trading. the prop model is for scalping and the use of leverage. unless you way under funded. but i would not. you have the best retail broker for this
Yeah I am underfunded. Although I have been profitable but since I trade stocks 25-70 dollar range, I need quite a buying power to be able to hold 15-20 stocks at a time(for diversification)