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Try Gainskeeper, I've used them many years and never had any issues. They can link to most brokers and download all of your transactions. Hope that helps. https://www.gainskeeper.com/us/HowGKWorksIndividual.aspx

Interesting point. Broad Street (the registered firm) seems to have a very similar street address as CTG (the unregistered firm). Not sure if that's simply a coincidence and they are wholly separate or if in fact they're connected by the example you provide above.

It depends on what you're looking for. Those of us who traded with Team Trading (a private company) had a rude awakening when the firm suddenly shut its doors last March and failed to return almost $2 million of traders' deposits (although some of us have now received our capital back, after...

Yes, if you call around, then you'll find that most of the CBSX registered firms pay monthly, however some give you access to profits bi-weekly, which of course is beneficial to a trader.

Wait a minute! A new trader pays 10k to get trained, and then plays BIDU? Dammit, I want my refund, lol! HPQ was a less volatile play this a.m., if they're going for a tech stock. Sure, you won't get four points upside intraday, but it won't rip your head off either. Thanks for your...

You're right, however 100 share lots would be more in "cost plus", as IB's footnote number 2 under their "cost plus" structure: "USD 0.7 minimum per order." Here's the link with the "fine print"... http://interactivebrokers.com/en/p.php?f=commission So getting filled on the bid in...

Yeah, the problem is how would they get around the current PTD rule of 25k as a FINRA firm? Perhaps they could create another entity, for example, "Schwab Prop, LLC" or something similar. They could put in 20 to 50 mil with their clearing firm, offer "Class B" sub-accounts that weren't SIPC...

Ok sounds good. After all, you did write the following statement in your opening post in the journal. Best of luck.

Itrade2009, Good post. This person "newbie2010now" perhaps has some valid reasons to bash a firm, however many posts are contradictory and statements are made without any substance, such as the one found in this thread here...

ksmetana, Please take the post above from Builder17 as constructive. As I've also noticed from my own experience when I first traded for a prop without developing a proper game plan to account for all of the commissions, and it was only after another trader pointed that out to me I began to...

When you join a registered prop firm, you're trading a sub-account of the firm. They're simply using your capital contribution as a hedge against any losses incurred. Coastal is a CBSX firm, so your capital contribution is locked up for a year as per SEC rule 13c-1, and losses are deducted...

With most prop firms, your "deposit" (capital contribution) is a hedge against the firm's losses in its master account on the trades you make in the sub-account. If you lose the 5k, then it is deducted from your deposit. If you're profitable, then any forward losses are still taken out of...

For the op, yes, I believe Echotrade clears through Merrill/BofA. Thanks for heads up on Vtrader, good to know there's a CBOE firm in the Bay Area. And to answer your question, according to their site: "Established in 2004, VTrader Pro is a SEC registered broker-dealer regulated by the...

How does any firm determine "target to 40" for a daytrade on an IPO stock that has very limited price history? Yes, indeed a coin flip.

The two questions to ask yourself: 1. What is my maximum drawdown amount I am willing to accept? 2. What is my timeframe to "let the trades play themselves out?" You are holding stock in billion dollar companies. BBY pays a 1.90% yield and tends to rally during the holiday shopping...

Sure, no problem. The sub-group is usually the Class C, and you'd be an associate of the sub-group, so they can dictate their own terms. There are many dog and pony shows in this business, but there are also many legit firms as well. I also agree with your logic, go to the firm itself and...

Good point, however it's not a matter of what the HFTs are doing, it's whether or not they get caught. Here's another article regarding a prop firm being accused of "spoofing", and they got a huge fine...

"most Prop Firms" do not require 25k. It's been posted on different threads that Bright Trading requires this amount. If a prop firm has adequate risk management, then "huge losses" are prevented since most firms require a capital contribution which serves as a hedge against losses. And if...

Yes, you have it correct. It's not a trade that has much arbitrage built in, which I believe is what you were seeking. arbitrage (def): the nearly simultaneous purchase and sale of securities in different markets in order to profit from price discrepancies.

Hang in there, today's intraday surge was Uncle Ben's "POMO" (Permanent Open Market Operations). A few billion pumped into the markets here and there, no big deal, ha ha! You're right though, it does seem as if the HFTs have their program orders and once the news hits the wires the market...