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I sent you a PM.

The landscape is changing and I think porfolio margining accounts for prop will start to become more popular than JBOs. At the end of the day you can get screwed just as easily by a registered firm as you can by a non-registered. Getting registered doesn't automatically make you a trustworthy...

This is all required to become a broker dealer, not necessarily a prop firm. There is very little reason to go through all this to become a prop trading BD if all you're looking to do is trade as a group and get better rates. Starting a BD (from scratch) is a big pain in the ass and you have to...

This is all required to become a broker dealer, not necessarily a prop firm. There is very little reason to go through all this to become a prop trading BD if all you're looking to do is trade as a group and get better rates. Starting a BD (from scratch) is a big pain in the ass and you have...

There ARE tax (and other) benefits to using an entity. Also, once again, it's complete BS to say 20 to 1 is barely enough BP to make money...as a matter of fact the vast majority of successful traders I know don't go beyond 20 to 1, even though they are able to.

BP comes the clearing firm AND OR the BD...and is obviously different w/ every firm. Some clearing firms offer more BP than others in JBO setups...the Bright 6.67 leverage isn't necessarily the same everywhere.

I completely disagree that it takes $1 to $2mm to make a decent living...I know many traders that do very well off $100K. I agree,however, that the poster shouldn't have a hard time finding 10 or 20 to 1.

I'm looking to partner with someone (trader/programmer/firm) who has the know-how, but not necessarily the means (clearing/execution deals) to implement an automated rebate (or otherwise) trading strategy. I have access to extremely low clearing/execution rates & economies of scale (and...

Definitely stay away from Maverick. I know several guys who started there and left, and they have nothing good to say about the firm. The business plan seems to basically churn fresh out of college kids who don't know better and lock them into their BS non-competes.

xyannix, when looking at prop firms you should find out: If they are a BD (many are not)...if they are they'll have an SRO to go to to get an idea of their regulatory track record. If they're not then find out what BD they are trading under and how reputable they are. Just like in...

They do alot more than 2 billion shares a month and trade just about any market that fits their models. They're all automated and have traders/programmers monitoring the strategies. Very sucessful group, and good guys. Don't need a website or advertising since their algos work great...why...

Think or Swim's front end is called Liquid, which they developed themselves...IB is their competition.

I suppose it really depends on what job you'd be going for. The scope of someones market knowledge, if they're only traded prop, can be very limited so I can see how some wouldn't consider a prop traders credentials the same as other types of traders w/ large firms.

I'd be shocked if you find any prop firm that trades through IB. IB, to my knowledge, doesn't license their software out for accounts that don't also clear through IB...and I don't know if they even accept non-retail accounts.

There are many repuatble prop firms in Chicago, but what exactly are you looking for? Training? Leverage? What do you consider corporate?