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This is a good question. I really don't understand the non-US stuff but it seems like Canada is cracking down (see Swift, Orbixa, Biremis etc) and it seems like the US is cracking down on LLCs running offshore trading (see Genesis closing its brokerage, only a technology company now and other...

WTS for one is CBSX, and its sub groups. There are a bunch of others which are totallly legit BDs. They just can not have traders outside the US. Other SROs permit but require higher licensing standards.

Why do none of the branches want to admit that they are affiliated with WTS? Isn't it weird. Look at LES Trading website, JC, CTG. If they are official branches and they only have branches, it seems kind of weird... Usually you see, 'Securities offered by XXXX Securities, FINRA member'...

CBSX firms can not have traders out of the US.

OP - find out if Pristine - that means everyone there - is registered with WTS. Find out if they are all taking the Series 24, since they'llbe supervising traders, they need to be studying right now or their course is over. If they are not registered, this is not above board. They can not be...

in the US, if a firm is not registered and making money off of tickets or transactions, they are just sitting around waiting for the SEC to shut them down in the post tuco vs SEC world (2008 til now). not sure how it works outside the US.

Thanks, I appreciate it. (But I'm not looking at this time.) I am under the impression that Avatar does not rebate trade as their primary strategy, so I agree, they are in a different league than WTS, who seems to stand alone at the bottom of registered firms. (Which are better than rebate...

Canada (and non-US) I have no idea. Seems a little wild west to me, althogh Swift got a Canada and US beat down (Biremis was the US BD) in the states recently. In the US, you file for SEC registration (which is a rubber stamp). Then you need to find a SRO / Designated Examining Authority...

Reddy, I understand you seeing it that way. I am actually really concerned about the dark side of this business. I never traded for WTS, I currently trade but am sick when I see some of what goes on around me at these places. Websites without broker dealers on them, lack of clarity on if they...

The balance sheet online is their officially SEC, independently done and filed audit. Money in Canada is not a part of the financial situation of the US broker dealer. If it was, it would be listed as some form of collateral or as a Letter of Credit. Call the CBOE or SEC for verification...

I never claimed to have lost any money there. I put up math from public filings - http://www.sec.gov/edgar/searchedgar/companysearch.html - which makes it appear two things: 1) their traders are not good. The firm's 2010 PNL divided by its traders - or alternately calculated using their...

So what if one of JC (Jeff's) other traders blow up with WTS. Do you get paid? Let's skip the words 'blow up'. Just use, 4 crappy JC Traders lose 6k each. JC's deposit is $25,000 (or you can fill in how much, it would help). So they have 4 guys who lose 6k each in NFLX. Now, you make...

cubecode, thanks for the input. First of all, what long years effort has Capital Traders Group put in. As far as I can tell, they started this year. 2nd, WTS started in 2008 in the US, or maybe 2009. And effort? Telling people they are 'hired', then asking for $1,500 in capital isn't much...

You must gain beyond your trading for continuing to pitch this AWFUL strategy. It works if you live in Bangledesh and can live on $300 a month. Otherwise, you waste your deposit at mysterious sub LLCs, and you waste your life spending 6 months at the lowest tier firms learning a skill which...

That is kind of ignorant statement considering how many firms shut down consistently and how many people lose money to BS scams and business models. Simply, this model won't work because they limit their upside on any heavy trader and won't attract, nor retain, their monthly fees on smaller...

Petey, ForSaleNYC, Your firm is 98% going to get reimbursed for the cost of the waiver. Call the CBOE registration department if you want back up on this, but there is a VERY high chance firms are going to get reimbursed if you get a waiver, although they are getting billed off the bat (and...

Everyone is making good points. How well are they capitalized? What firm offers this? OP should spit it out. (So we can all check SEC.gov for their filings). But look at the obvious. If a firm makes only $600 on its best traders, that firm will be out of business very soon. In the...

https://www.cboe.org/publish/RegCir/RG10-101.pdf Regulatory Circular RG10-101 Oct. 1, 2010

who charged you 295 for this and for what justification?

Admittedly, my wording was wrong but you've all made the point. Here is what is indisputable: 1) JC is a sub group, not a broker dealer. 2) Because they are not a broker dealer, you won't get audited financials on SEC.gov as you would with any SEC registered firm. 3) Because they are...