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I don't think it's fraud. They have the right not to tell you, but you also have the right not to join so it's a two-way street. I wouldn't go so far as to call it fraud. that's not a fair accusation considering no one yet has come forward with accusations of fraud.

That's definitely true but nobody should have ranted and raved about their 4 clearing accounts and how big they are without expecting people to figure out who they are with. That type of information isn't private proprietary information. It can be attained by using basic logic and reasoning.

LOL. these days man, there are so few registered prop firms that 90% of the time, the group is with WTS. WTS has literally consumed the industry whole aside from some competitors like Bright, Echo, and smaller brokers who have their own clients. The rest are all pulling a Dell and going overseas...

Yeah, I said this earlier. They don't have 4 clearing-level accounts. That's a bunch of Hogwash. They are with a WTS branch (only WTS has fusion. they own it) and also looks like they have DAS so they are probably using two brokers but 4 clearing accounts? LOL. How could a small company handle...

happy holidays! don is always a huge help on the boards, even to n00bs with dumb questions! may 2013 be a highly profitable and successful year for the entire elitetrader community!

Sorry, I meant 1040ES**

I'm sorry but these types of thread are pointless. Those that did business with PFG & others that went bankrupt were gambling money in futures and trading and now they're complaining that they want more "transparency" to protect them from bank runs. All that's going to end up happening is all...

Ever heard the term "Same shit, different toilet"??? Well that applies to trading platforms. All of them have their benefits/downsides. A lot depends on which one you take a liking to and prefer to work with - things like color schemes and how the windows are setup make a different when you are...

"1. If you have 100K why would you still use a proper firm instead of a retail broker?" This depends on whether or not you are willing to take on the risk of the $$ being uninsured and the firm possibly going under; however, I'm sure MF Global customers won't see their $$ for quite a...

that could be the case. I posted the link cause it's the first time i've ever come across this. I just put up a new thread with the direct site it links back to - http://www.futurestradingmsc.co.uk/

I recently came across this: http://www.futurestradingmsc.co.uk/ It looks like a UK prop and a university have partnered to offer a masters of science in prop trading. Looks like it costs a little under 30 grand. I think it's a viable option for someone who wants a thorough trading education...

Let's hold our horses & read the full sentence. It says offering it through some university. I don't know or care why they would put it up. It could be for information, or they collect a fee for referrals or whoever is running the program is paying for ad-space or they are just recommending it...

seems they're offering a masters of science in proprietary trading through some study abroad program with University of Hertfordshire in the UK (which is like 30 miles from London). For a while I've been wondering when prop-trading would turn into a corporate type of degree. Considering...

If you live close enough, don't do anything illegal but visit the dude's home (just don't go on his property). You may be able to work something out. If it's less than 10k, it really isn't worth the costs to pursue it legally. You may, however, be able to get a settlement. It really all depends...

your account PnL (propreports or tradereporting or Iboss or whoever) + a 1099ES form that your accountant can help you fill out. It is legal, but you don't have the same oversight over the accounts so your deposits aren't as protected as they would be with a US broker-dealer.

I understand your concerns. What's the name of the firm? It sometimes is legal and sometimes isn't, depending on where the firm is based out of and how their corporation is setup; however, there is no government oversight of foreign firms. So the only risk you run is they take your money and...

Nope. you only have to register if you are making a commission or profit-sharing type of agreement. You would basically just be sharing space.

Retail firms don't run the risk because they provide little leverage; however, they generally will sue you and get some type of judgement. Trading with leverage is a lot like a credit line, you better be careful and make sure not to get into a situation you can't afford.

The way I understand it, you would have to be structured as a hedge fund and isolate the traders from the investors, if you need it to be that way. it's still highly unregulated, but that's definitely been changing. If traders are going to have their own accounts and funds allocated per-user...

I don't think there is much that can legally be done to recover the funds unless it is explicitly agreed upon in the independent contractor agreement between the firm & the trader. If it's a loss under 10k, I would assume the firm has to eat it, as hiring an attorney and trying to recover those...