Originally posted by Don Bright
This is just not true...and I should clear it up for the newer readers.
Most "proprietary firms" ask for some money (including WorldCo, they may let you in with zero, but to get competive rates, they ask for money...).
Regarding 'desk fees'..
Let's take Hitman's example (just for clarification. Yesterday your team did approximately 12,000 apiece. If they paid 1 cent more per share then that is $120 per day more (even 50 cents more = $60 per day more), and even with desk fees that is more money. Sure, they'll lower your fees if you stay longer and do more size, but what happens to the extra money paid from the get go?
Hitman...I am not trying to be argumentative, and it may well be worth it to new traders to pay extra when they begin in lieu of putting up more money...I just want to keep things in perspective.
(Note: the example of 1.8 cents came from an existing trader in training)
Our "remote"desk fee is only $200 per month, about 2-4 days of extra commissions.