Anyone use a good prime broker that they would recommend? Looking for something low cost with and access to as many markets as possible- equity, fixed income, currency, commodity and derivatives of each.
Prime of Prime Broker 630 replies
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DislikedAnyone use a good prime broker that they would recommend? Looking for something low cost with and access to as many markets as possible- equity, fixed income, currency, commodity and derivatives of each.Ignored
DislikedThanks, I had my eye on interactive brokers. So you have generally been happy with them?Ignored
DislikedJP Morgan, Citibank, those are PB's... you need minimum at least 100k to be with a PB... Citibank I beleive is 100k, JP morgan is like 300-500k,
You are not going to get 100:1 leverage anymore, 5:1, 10:1... not 100:1,
The bank still takes a fee (like commission) but it's not too much.Ignored
DislikedI always wondered about one thing about prime brokerage
We all know what bucketshop is but is there possibility that you would
actually face the same if not worst bucketshop with prime brokerages?
Because you could be trading against them if you are hitting theirs bid ask and making profit.Ignored
DislikedThe word "Prime Broker" & "expensive" in the same sentence is an oxymoron. When you get to the level of acct to where you need a Prime Broker, expect to pay out the fees and/or have to balance to command respect from the PB.Ignored
DislikedTechnically PB are suppose to connect a company/trader directly to market and handle misc. It was found recently that Goldman Sach has been playing market makers with a lot of their clients (sort of the same way bucketshops work).Ignored
DislikedI'm saying as an individual trading small sizes- usually 20-50k a clip, $2.50 commission per side is high in my opinion.Ignored
DislikedI ask yet again, "$2.50 commission per side is high" relative to who?Ignored
DislikedIB a prime brokerage??
JP Morgan, Citibank, those are PB's... you need minimum at least 100k to be with a PB... Citibank I beleive is 100k, JP morgan is like 300-500k, not exactly sure about those numbers, but somewhere around there. We are talking hedge funds and such.
Things are different and much better when you reach that level. You are not going to get 100:1 leverage anymore, 5:1, 10:1... not 100:1, but with the money you will have, you don't need it. You have the prime brokerage stream quotes thru (for example) a CNX platform quoting...Ignored
DislikedCitibank is actually only £7,500, although it won't get you far they will let you open an account.Ignored