Anybody here familar with Genesis Securities?

W

WallStWiz78

OK, me and my friend are planning on starting up our own group and office thru Genesis Securities in NYC, but the problem is we don't know much about them. We traded with Assent in the past and because of our past dealings with Assent, we decided to stay away from them and go with another firm. The offer we've gotten from Genesis sounds too good to be true, thats why I'm sort of skeptical of them. So, any insites about Genesis Securities would be helpful.

Dave
 
They self clear, they can offer amazing deals.

Great customer service, and their platform is extremely reliable. I didn't trade directly with them, but through a prop firm that is a sub-account, still almost the same thing though.

I liked them, a lot better than most others out there.
 
WallStWiz78

Today's (7/11/06) Wall Street Journal has a very informative article entitled "Online Stock Trades Get Even Cheaper".

In it it compares various on-line discount brokerage firms' $ commissions.

The article mentions that Genesis Securities is launching a unit called 'SogoInvest' which "plans to charge between $1 and $3 a trade, with no minimum balances."

I hope this helps.

If you find out more about 'SogoInvest' I would appreciate your comments.

Tom
 
Quote from WallStWiz78:

OK, me and my friend are planning on starting up our own group and office thru Genesis Securities in NYC, but the problem is we don't know much about them. We traded with Assent in the past and because of our past dealings with Assent, we decided to stay away from them and go with another firm. The offer we've gotten from Genesis sounds too good to be true, thats why I'm sort of skeptical of them. So, any insites about Genesis Securities would be helpful.

Dave
More...

Dave,

We worked together before in Assent. How u doing? Why don't you talk to swifttrade.com? They have very low-cost structure as well. I believe their per-trade commission is less than $1, a lot lower than genesis. In addition, you don't need to find traders with series 7.
 
Quote from TOM134:

YIP1997,

Would you explain a "series 7" trader?

Thanks.

Tom
More...

You need to be licensed to trade prop (i.e. to trade firm's money) Series 7 is the exam you need to pass.
 
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