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Here is WTS's financials (just talking about the US prop broker dealer) from 12-31-2011 from SEC.gov. They came up a few months late compared to when other firms data was posted. http://www.sec.gov/Archives/edgar/vprr/12/9999999997-12-010053 The member's equity ($2.4 million) is about the...

Don, did you ask WTS what kind of money they have in the BD or firm money vs trader money?

I agree people have diff't strategies and maybe should have different accounts at different brokers but WTS is an anthill of a company compared to GS in capital and what their capabilities are (foreign equities, bonds, FX, options, metals and grains, etc), cap intro managed accounts, etc. Not...

On 5, Hold Brothers branch's at least admit they are affiliated with Hold Brothers and are listed on HB website. All the WTS branches don't even admit they're WTS, so you have even less idea of who you are dealing with. Website's says 'Traders trade through a CBOE Stock Exchange (CBSX) member...

Broker dealers have arbitration agreements with traders which aren't public. Since Dimension was a BD, there are no links to public documents. And there was an out of court settlement. And it certainly happened, and it cost people A LOT of money during some good trading years. At the time...

Which trader is in the new market wizards? scuttlebut: http://www.wallstreetoasis.com/forums/first-new-york-securities-kaput WSJ / Dow Jones newswire 3-4-12 (ps - by now the rumor is that Friedman left too with all (a LOT) of his capital. he is referenced in the below story.)...

Evo, You are a Goldman Sachs client? And you have a subaccount with WTS or CTG or something right? Come on, are you serious? There's a 5 million account minimum with GS and you trade with a prop firm whose whole capital base at 12-31-2010 was $2.8 million in member's equity? Can you...

I definitely agree. But I think it is safe to assume they up the shares quickly on people showing promise. I'm putting two and two together here, but logically, they don't want a guy hanging around trading 5 shares either. (Profits to split will be negligible on 5 shares, and they aren't...

I dont know anything about their contracts, but I agree a ridiculous agreement is a negative if you're not getting enough to offset it. Where I don't totally agree is that trading 5 shares of goog or aapl is useless. That's my opinion - i know it might not be everyone's. My thought is at...

Im familiar with them. Its a legit set up. One of the few where a non-bd can pass through high commissions without being a BD. (The owners of tower hill also own a BD which Tower hill trades through and that is where they get any mark up). Benefits the trader and firm in a few ways (no...

http://www.sec.gov/divisions/marketreg/bdguide.htm That is your guide to if they should be registered as a broker dealer. If they make money off of your trades - aka transaction based compensation (and putting money down has nothing to do with it) - than they should be registered with the...

always beware when people just tell you to 'go away'. they seem a bit desperate to push this under the rug. Here is the quote from the memo: "A split which provides all or virtually all of the P & L to the trader is likely a red flag that the account is a customer account." (near the top...

yes, 99.9% payout is outlawed by the CBSX (which CTG is part of) and essentially FINRA as well for prop traders. im not sure what compliance officer would allow this. and any firm accepting 2,000 down is totally bottom fishing for traders and reeks of desperation. buyer beware.

It doesn't just say 'does not solicit US residents'. It says right before that: "Swiss America Securities, Ltd (SureTrader)'s brokerage services are not intended for U.S. citizens, U.S. residents or U.S. corporations." No free lunch, no magic. Do it at your peril. Even actual Swiss...

Is this the same Herbert Kurlan who got thrown out of the industry basically and got VTrader a ginormous fine from CBOE? From the bottom of their site (you'll find his name as the Financial Complaince person) http://mavericktrading.com/insider_trading_policy.php Their website and 6...

Rebate trading (generally putting in bids and offers in thick, low priced symbols), or actual scalping (trading stocks over 20 bucks back and forth)? Reason I ask is because if that is what you are going to be taught rebate trading, save your $1,500 bucks. The strategy has a low top for its...

JSH - What strategy are they teaching you?

1. The 'Independent Business people who rely on themselves' didn't rely on themselves their first day of their career. They worked under someone at a company formally for a few or many years before they successfully went off on their own (yes, this doesn't cover 100% of them, but let's say...

I want to make sure I have this right. Are you suggesting that someone wanting to trade or 'do business in the real world' should not assume by default that they are looking for a salaried position? That looking for a job and expecting to GET PAID, NOT PAY for the job is due to a failure...

Slap on the wrist for the owners but it says Mercury is out of business. Does anyone know what happened to the traders at these companies?