how to save commission by setting up own broker

Discussion in 'Professional Trading' started by lovefxspot, Aug 11, 2021.

  1. currently I am trading 20mm-30mm (could bump it to 50mm) NYSE shares per month at a Dutch broker. They charge me 0.001-0.0015 per share.

    wondering if setting up own execution broker can save me commission. oc need to figure out if saved commission can at least offset fees/cost to setup/run execution broker.

    Anybody has this kinda exp? comments are appreciated!
  2. SunTrader


    20mm-30mm? million only has one m

    So you are averaging over one million dollars (finger poking cheek) errr shares per day, is that right? And you are asking this question on a basically retail (though not all of us) trading forum.

    And even though you are a big swing dig on the NYSE you choose a screen name of loveFXspot.
  3. d08


    Roman numerals.

    Trading lower priced names, it's not a crazy number.
  4. Robert Morse

    Robert Morse Sponsor

    Why a Dutch broker if you are located in NYC? Are these OTCBB symbols or US-Listed?


  5. Why do you worry about the commision let the broker earn too ! Why choose to go with a single broker instead of a few brokers and banks ?
  6. ph1l


  7. they give 200x leverage, impossible in usa. and most top HFTs use this broker
    all NYSE listed tickers

    just like i wanna do execution/agency broker (no dealing) myself but use your WB as clearing broker
    Last edited: Aug 11, 2021
  8. JSOP


    It only takes $200K to $300K to start a brokerage firm? That's it?? And FINRA only requires $100K as the capital requirement? That's way too cheap. NFA/CFTC requires at least $2 million as capital requirement for clearing FCM's. If I am starting my own brokerage, what I would want to know is what's the cost of having my trades executed directly on the exchanges, having a seat and etc.
  9. ph1l


    #10     Aug 11, 2021