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You have it completely opposite!! Prop firms are real SEC registered broker/dealers that file real FINRA reports. Alpha 7 (I didn't even know they were still around) is just a private LLC unregistered firm that acts like your education fee is NOT your deposit....but in reality it is. It works...

I think you are being scammed. There is only one legal way to trade prop if you live in the US and are making a deposit. And that is to be licensed and trade with an SEC registered broker dealer. An example would be Bright Trading or WTS (JC Trading Group) If this is a hedge fund and you are...

Bulls on Wallstreet is not hiring! They are are not giving you their capital to trade. After you pay them $5,000 for their "education" (basically rehashed crap about chart reading that you can find anywhere on the internet for free), they will let you lose $500 of your own money!!! Then they...

I think these are some relevant questions that have purposely not been answered. Can someone at TsT please answer.

Bright does not compete with your typical CBSX firm. The niche at Bright is allowing strategies, mostly longer term pair trading, that most CBSX firms won't even touch. If allowing a trader to utilize a strategy that will make them money, who cares if your rate is .002 or .004. There is a...

Ronin, I think you are still living in the past. Fully backed trading jobs that include a salary and training barely exist. Even large banks are shutting down their prop desks. To get a job at a hedge fund you need a PhD from an Ivy League school. I don't think anyone would ever tell...

EvOTraderV2: great post.

I definitely agree with you. But the reality is that the majority of us are never going to trade structured products, physicals, or debt...and the closest we are going to get to banking is perhaps a branch manager job at the local Bank of America. Why? Because we don't live in NY, Chicago...

Thanks Don. I have always enjoyed reading your posts. They are always no BS and honest. Although I don't trade at Bright, you can check my posts over the last 2 years and see the praise I have always given your firm.

I understand it perfectly....that's the point I am trying to make. I'm not the one that originally posted those firms....I was just responding that most on this site don't have a chance of getting an interview with those firms let alone get hired (myself included!!). But I don't care. I put...

This is the point I'm trying to make about having an advanced college degree from a top university: This is from Jane Street website: http://www.janestreet.com/apply/calendar.php And from SIG...

Mav, I edited my post to reflect that....don't want to get on Don's bad side.

I meant a top school academically, not in basketball (just kidding!) :)

Correct me if I'm wrong, but Hold, Bright, WTS, Echo all have the same legal framework. They are all SEC registered BDs. Some might trade on the PHLX, or CBSX, or Chicago Exchange...but they are all SEC registered entities that have a Finop, annual audit, compliance officer, etc. Tell me why...

There is a reason there are at least 20 posts just like this...and the reason is that these positions don't really exist. And if they do they are very difficult to get. First, you definitely need an advanced college degree and probably one from a top or Ivy league school. Second, you will be...

They are NOT a sub of any CBSX BD. They are operating a unregistered and illegal BD in the US and these firms are aggressively being shut down by the SEC. BEWARE! TD

Stay away...firms like this are aggressively being shut down by the SEC. They are Chicago based so SEC can shut them down anytime. TD

Bottom line....if you can use a different firm do it. If you are stuck for one reason or another with Penson then there is really nothing you can to.

You are exactly right ScalperJoe...SgtSlotter just shows his ignorance once again by saying 99% is "outlawed".

SgtSlotter has no idea what he is talking about. First, the link he references is a circular, not a law or a CBSX rule. There is nothing that can be "illegal" about it. It is guidance. If it were a rule it would be in the CBSX rule book....which it is not. It even uses the term "guidance"...