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Abiel

New broker: CenterPoint Securities (Updated May 2019)

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CenterPoint Securities is a low-cost but powerful trading broker for U.S. and international active traders.

You need to deposit at least $30,000 USD to open an account with them. 

[May 8, 2019 Update]

We are excited to announce CenterPoint Securities is offering our members a new and exclusive commission pricing that is very competitive for active traders. In this new commission pricing, ECN is included in the Commission fee (except regulatory fees) making this an excellent improvement from the previous commission pricing. 
Here are the details of the new commissions pricing for BBT members:

Commission: $0.005 per share (including all routing fees) except regulatory fees. Minimum per ticket is $0.35 per trade.*
Free Das Pro Platform after you trade 300,000 shares a month.
Das Pro Simulation included with a live account.

To get this deal when opening an account with CenterPoint on their online application select "Trading Chatroom" followed by "BBT" in the chatroom field. You can also use the link below created for Bear Bull Traders, and it will automatically set you up with the above commission pricing. 
https://centerpointsecurities.com/register-bearbull

The idea is to have simple pricing so you can focus on trading! Please visit our website Trading Tools page for more information on Centerpoint Securities and this exclusive offer for our BBT members. https://bearbulltraders.com/tradingtools/

* Commissions are at the broker’s discretion and subject to change. Check brokers commission agreement at the time of sign up.

  • Thanks 1

Abiel Guerra

BBT Team

[email protected]

Icono twitter @abielguerra 

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This looks like a pretty good deal.  I'm curious about the waived DAS fee.  Normally, CenterPoint charges a base fee for DAS of $120, but it is waived if more than 300k shares are traded in any given month.  Is that the case for us or do we just get DAS for free no matter what?

Scroll down to Platform fees to see the blurb: "Base terminal fee waived if >300K shares traded in any given month."

https://centerpointsecurities.com/stock-broker-dealer/pricing-brokerage-fees/

Thanks!

 

EDIT:  Andrew answered this in the chat.  He said we do not have to meet the minimum number of shares traded.

Edited by Lee W
question answered in chat

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I'm curious about the shorts availability compared to IB.  That seemed to be a big drawback to Speedtrader.  Is anyone signing up to check them out and could possibly work on a comparison?

Edited by True
  • Like 2

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From what I heard, CenterPoint is better than IB for shorts availability.

I have a question about DAS Pro for those familiar with TWS.  I'm using ChartTrader in TWS right now, that is, I have keyboard shortcuts to buy and sell at ChartTrader price so when I hit my hotkey over a chart, my cursor becomes a line and when I left click on the chart it places the order right where I clicked.  I would like to know if it's possible to do this in DAS Pro or not.

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So this "free" DAS Pro for BBT members, does this mean "free" as long as we have them as our broker? or does it expire after a certain promotional period?

Edited by Jones

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Yann, it has been a few months since I used DAS Pro (I'm using TWS currently).  I do not think DAS Pro has the "Order Line on the Chart" feature you are talking about.  In DAS Pro, an unfilled order will look like an empty triangle not a line.  And, you can't grab the empty triangle like you can with the line to adjust the order price real-time.

Jones, yes.  Different broker, different data feed fee(s).

I called Centerpoint yesterday.  The $15 data feed will not get you the equivalent book depth like in DAS Pro for $150 a month.  Nasdaq TotalView is +$25.   Then, ARCA is more, etc.   I didn't get a total data feed cost, but it sounds close to the approx. $55/mo that I pay with IB for TWS.

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On 9/11/2018 at 10:34 PM, Abiel said:
New broker: CenterPoint Securities

Screenshot_9-300x80.jpgCenterPoint Securities is a low-cost but powerful trading broker for U.S. and international active traders.

You need to deposit at least $30,000 USD to open an account with them. 

In terms of commission, they are offering our members an extremely competitive rate of 0.0035 (35% of a 1 cent) per share with $0.95 min per trade. This is an astoundingly low fee, compared to the typical $4.95 per trade charged by many other brokers. A final plus is that CenterPoint Securities uses DAS Pro as their trading platform and it will offer it to Bear Bull Traders for FREE! (Users only pay for market data for $15/month.)

For Bear Bull Traders members opening a new trading account or moving their funds from other brokers to CenterPoint Securities they offer a $300 free trade signing up bonus!

In order to receive the discount on your commission structure, please mention that you’re a member of Bear Bull Traders in your CenterPoint Securities application.

We've had people show that the IB commission of .0035 per share was actually closer to .007 . Do we know if Centerpoint is actually .0035, even over 2000 shares?

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2 hours ago, Abiel said:

Commission + ECN / SEC fees...

Thanks Abiel!

 

Hmmm then based on the way I trade, IB is cheaper.

 

I usually trade 400-800 size blocks, but scale out 1/4 to 1/3 at a time.

 

Centerpoint min is .95 cents. IB min is .35 cents.

Based on 400 shares scaling of 100 each time, Centerpoint costs $3.80 and IB costs $1.40.

That's $2.40 more each trade using Centerpoint. It will take 63 trades to break even the IB $150 DAS fee.

Since I trade more than 63 times a month and I would still have to pay some amount of money for Centerpoint data feed, IB is indeed cheaper for me currently.

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Hi Everyone,

Response from CenterPoint:

Hi Cliff thanks for reaching out. Yes there is a commission credit available in the first month of trading ($300) and the first month platform (DAS Pro) fee is free. After the first month we will waive the platform if you trade a minimum of 100K shares/month ($350 in commissions generated)

The exclusive offer is for .0035/share commission

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ROUTING FEES

CenterPoint offers 30+ routing options.
Contact us for a complete list of our available routes along with the associated fees/rebates. Several routes are included here as an example.

 

ROUTES ADD LIQUIDITY REMOVE LIQUIDITY
ARCASMRT $0.002 ($0.0032)
CNSDQ $0.002 ($0.0032)
CPSMRT ($0.0024) ($0.0024)
TAILOR1 ($0.002)

($0.002)

 

https://centerpointsecurities.com/stock-broker-dealer/pricing-brokerage-fees/

 

 

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Centerpoint is famous for short locates. It is good for traders with volume.

A couple of questions: 

1) Do they open accounts for Canadians? 

2) What's their leverage, for both day trades and overnight margin requirement?

3) If using DAS, is the platform fee waived? Or only when you trade more than a certain volume? To get the same set of data feed as the Deluxe package that DAS offers, how much does centerpoint charge?

 

Thanks BBT team for getting this group discount!

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