Frequently Asked Questions: Pricing
How flexible is Vision's pricing schedule?
Vision prides itself on being flexible in how we run our business and this extends to the pricing we offer our active trader clients. Our grid pricing is very aggressive, but if you have substantial volume we are happy to have a discussion with you regarding a negotiated rate. Should you negotiate a rate and then consistently not meet the promised volume figures Vision may charge your account a debit and/or raise your rates back to our standard levels going forward. You can view our pricing details by clicking here.
What are the specific costs related to the RealTick platform?
The RealTick platform is available to any active trader client of Vision for a monthly fee of $250 per user. However, Vision will completely waive the monthly fee each month that your trading volume exceeds 500,000 shares of stock, 5,000 stock option contracts or 5,000 futures contracts (average per user if you have more than one RealTick screen). Other amounts for add-on features such as news will be past to you at our cost. This also includes market data, but Vision may absorb your market data costs based on your trading volume.
What are the costs of market data and any add-ons to RealTick?
The cost of market data and available add-ons varies, and a summary is available here. Additionally, In each section of our Web site that covers the add-ons we list the specific cost associated with these optional features. Vision does not mark these costs up even one cent. Market data costs vary by exchange. Keep in mind that all entity accounts are considered "professional" users of market data and are charged by the exchanges accordingly.
What rate will you pay me for my cash balance?
Vision pays a rate of target Fed Funds less 50 basis points for cash balances, but may negotiate that rate for clients with substantial balances and/or trading volume. We do not allow active trader accounts to utilize a money market fund in their account - only cash.
What are the margin rates from Vision?
Vision offers competitive margin rates for various loan amounts and is willing to negotiate the rate for margin balances in excess of $1 million. To see our margin rates and other pricing information please click here.
How does Vision handle pass-through fees for option contracts?
Many option contracts including index options and ETF options have exchange fees which are passed on to clients by their brokerage firms. For Vision's active trader clients, we will process a monthly debit to each account for the exact amount of applicable exchange fees that are assessed to Vision on the respective client's behalf.
If my trading volume is below the targeted minimums for using RealTick does Vision provide any alternatives?
Since Vision’s Active Trader business targets day traders and professionals who typically do monthly volume in excess of 500,000 shares of stock, 5,000 stock option contracts and/or 5,000 futures contracts and RealTick is an advanced order entry platform, we understand that there are people who need an alternative. Vision has a separate discount direct business targeted at less active traders and/or people who do not require such an advanced order entry platform. This discount direct business uses a simple Web interface and offers aggressive pricing versus many other “discount” firms, but is higher than our Active Trader pricing due to the reduced volume figures. Please click here to learn more.