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Anybody any idea what Reject reason 3 - rrSTIAccessDenied exactly means ?

That's the difference. Most of the guys in this thread have worked there, some (like me) for a long time. We know swift and we KNOW that they don't have 150 million.

Seriously, no way Swift has $150 million in their LLC's. I've worked there for a long time. It's been a while since I've seen someone showing off such childish behaviour as TM, name calling, bad language, non arguments etc ... last time really must be when charles Vaccaro was still posting...

I really keep asking myself, is this guy for real, is he just having a laugh or does he really have severe psychological/emotional problems ? The truth, like always, probably is somewhere in the mid...

Time and tick report ... Sounds like a report that states the time and the ticks ? Lol Ok, now please answer my questions: What's your pet's name, what's your credit card number and what mental hospital did you escape from ?

Ah, you've read his website, that indeed makes you practically his best friend. No wonder you know so much about him and his business. Yes, you've asked all kinds of questions. I could do the same and ask you all kinds of questions too, like your age, the amount of pets you have, your...

And you DO talk to him ? Lol. Because if so, you're certainly not talking about his business since you're really clueless about that (not knowing that traders don't deposit money, not knowing their B/D, etc) If you'd set this without having the right (legal) rights to do this, FINRA will fine...

Here you go again. Bragging about how much you know, calling others names and not giving any good explanation for the Swift situation at all, because you simply don't know how Mr. Beck did it. Again, Swift doesn't get 1:7. They get 1:20 at least. And there's no WAY that the BP isn't real: Swift...

You pretend to know exactly how it works, but you simply don't since you can't give the explanation for Swift's high leverage either. Traders don't put up money and swift for sure doesn't have $250,000,000 in their LLC's. Like said before, branches put up $5,000. For this, they get the BP that...

I don't know how Swift gets their leverage, all I know is that you are wrong. Swift gets WAY more than 4:1. Swift has over 1000 traders. I think average BP is about 1 M, making the total Swift BP well over $1,000,000,000 dollar. If they only got 4:1 leverage, they would need 250 million in their...

Doesn't this FINRA leverage rule mean that for every dollar that's trading, someone must hold $0.25 in their account ? E.g., the *clearing* firm has to arrange for that 1:4 ratio, not the LLC. For example, Swifttrade wants to give a prop trader $1,000,000 BP. They have a 1:100 ratio deal with...

I understand what you mean and I'm sure this is how it 'normally' works, but in these 2 cases I really have my doubts ... I just can't imagine Swift/Title having hundreds of millions sitting in their LLC's to back up the BP. Maybe Swift has cut a deal with Penson: Penson puts up 1:4 and swift...

Swifttrade has its own B/D, it's called: 'BIREMIS LLC (127840) BIREMIS, CORP. " (MMID: BRMS) However, they recently stopped using their own B/D and are now, since a month or 2, are using the Penson B/D: PFSE (so they're now using Penson both as a clearing house and as a B/D, not sure why...

Swifttrade's and Title's (which are a little different from Genesis here) branches only have like $5000 deposited. This $5000 deposit gives branches millions of Buying power. If this money would be backed up by investors (1/6) ... Man they would have hundreds of millions in their LLC's... No way

Swifttrade, Title trading, Genesis, all have their own B/D's in place, which are FINRA registered, AND those companies will give you 10,20,50 or even 100x.

I'm not sure about forex, but for securities, it's WAY less. If you're setting up a broker (client accounts), it's $250,000. But if you're setting up a dealer (only trade your own account and this is what we're talking about here), it's only $100,000. Read more about this...

Interesting post. What do you exactly mean with 'Nasdaq fees' ? Trading activity fee ? Could you give some info about how much the first 3 fees are ? Thanks.

Not sure how that matters ? Most of the mentioned firms are not FINRA members, just sub LLC's that work via a FINRA B/D

Define 'real prop firm'. I guess you mean having their own B/D ?