Are there any honest, reliable prop firms out there?

Big hitter....just reading along for fun but thought I would jump in

Before you let your mouth get ahead of your head on the margin issue, he was referring to non-licensed traders (without Series 7)who may only get 4:1 retail getting 15:1 through him.

He never said his prop traders only get 15:1. So put his comments in the right context with respect to margin.
 
Not sure if you misunderstood what he wrote or I do, but I gather he is saying they have recently made the decision to let unlicensed traders use their firm and will give them 10-1 to 15-1 leverage. Normally a retail trader would only have 4-1. If you are licenesed and trade with Bright you could possibly get larger leverage than 15-1.
I assume this still means joining their LLC to do this, as I have come across another firm that is making a similiar offer.
 
"if i'm doing 50k vol i can get 50-1 leverage and .003. on 1 million shares a month thats a huge 4k savings.you need to lwoer your rates huge"

And these rates are available at ???????
 
Mr don bright
I think u have done a good thing by accepting non-licensed trader as there are so many who would like to trade and especially like a reputed company like your,s.
I have a question on the tax system
some prop give u a K-1 where u have to only pay Fed and the tax and other prop firm offer you K-1 where u have to pay SS and all the fed + taxes
what kind of a K-1 is yours or what do you offer
Does it make a difference if a person is in Las vegas or if a person is in nyc on the tax behalf
Your advice is greatly appreciated
Thank you
ksonsinc
 
optioncoach, there are TONS of retail LLC's around that don't require S7 AND will give 10 or 15:1 leverage sub .005 BUT the big issue is transparency , trustworthiness and stability. I think Bright has all the above .. at what cost, however is the big issue.
 
obviously bright has found out tons of firms now offering leverage without a series 7. people don't want to mess with that when tons giving 25-1 and 50-1 without a lis. the beef here is with brights rates. bright is obviously a good company but there rates aren't competitive
 
Hey Bighitter....just wondering what a reasonable fee is....im a Swiftie so i dont know what regular fees are and would like to know.......i've seen anywhere from 0.003 to 0.007....now is that per share? and are there other fees that go along ontop of that?....and are fees normally the same when trading the nasdaq or the NYSE?

thanks
 
Quote from ksonsinc:

Mr don bright
I think u have done a good thing by accepting non-licensed trader as there are so many who would like to trade and especially like a reputed company like your,s.
I have a question on the tax system
some prop give u a K-1 where u have to only pay Fed and the tax and other prop firm offer you K-1 where u have to pay SS and all the fed + taxes
what kind of a K-1 is yours or what do you offer
Does it make a difference if a person is in Las vegas or if a person is in nyc on the tax behalf
Your advice is greatly appreciated
Thank you
ksonsinc
More...

K-1, based on "triple net" - No SS. (Bob and I are both ex-accountants, and like to keep things simple, LOL). NY'ers have to pay double taxation just for the privilege of living there....(Just kidding, of course)....Fed taxes same in both states....Nevada has no State income taxes however.

Don

Don:cool:
 
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