Are these rates any good???

xbrxx · Dec 16, 2003

If that deal is true, someone PM that firms name!! I already have the 5k check written out!! lol. Anyways, how is this deal possible. What firm in the world would offer 1:60 leverage? A 50 dollar stock tanks 80 cents and your completely wiped out! Seems like a lot of risk the firm is taking.

xbrxx

Lights · Dec 16, 2003

Quote from xbrxx:

If that deal is true, someone PM that firms name!! I already have the 5k check written out!! lol. Anyways, how is this deal possible. What firm in the world would offer 1:60 leverage? A 50 dollar stock tanks 80 cents and your completely wiped out! Seems like a lot of risk the firm is taking.

xbrxx

my experience is that these deals are typically offered to experienced prop traders with track records, not to newbies.

Nana Trader · Dec 16, 2003

Quote from Lights:

my experience is that these deals are typically offered to experienced prop traders with track records, not to newbies.

Lights, Do you know any offer like this for non-licensed
traders?
I am ready to put up $5K capital and don't need more
than 5- 10 times leverage with "NO-MINIMUM" per trade?

Lights · Dec 16, 2003

Quote from Nana Trader:

Lights, Do you know any offer like this for non-licensed
traders?
I am ready to put up $5K capital and don't need more
than 5- 10 times leverage with no-minimum per trade?

well as most of you probably know, i think if you are non-licensed, you are considered retail and subject to 4:1 daytrading margin. i know of no retail firms offering 10 times leverage.

off topic here, but i always wondered what it was about the series 7 that allowed props to give their traders millions in leverage and 100% payouts with just $5000-$25000 capital.. and it's not like the 7 is like the mcats or anything, one can study and pass it in a few weeks.

Nana Trader · Dec 16, 2003

Quote from Lights:

well as most of you probably know, i think if you are non-licensed, you are considered retail and subject to 4:1 daytrading margin. i know of no retail firms offering 10 times leverage.

The are Sub-LLC traders account that also pay up $5k
and and get 5-20 times levearge. But the fees and
other charges are not as good as what licensed trader
gets.

lescor · Dec 16, 2003

The series 7 license has nothing to do with trading. I think the regulators wanted to give some kind of legitmacy to prop traders and basically said "here's a license that's kind of about the financial markets, get this one". Just a red tape thing, doesn't mean anything once you have it.

Nana Trader · Dec 16, 2003

Quote from lescor:

The series 7 license has nothing to do with trading. I think the regulators wanted to give some kind of legitmacy to prop traders and basically said "here's a license that's kind of about the financial markets, get this one". Just a red tape thing, doesn't mean anything once you have it.

If i am living outside US and can't travel to US due to some
Visa restriction, are the ways or places regulated by US for
foreigners to apply for exame outside the US? Any website
on this question?

Lights · Dec 16, 2003

Quote from lescor:

The series 7 license has nothing to do with trading. I think the regulators wanted to give some kind of legitmacy to prop traders and basically said "here's a license that's kind of about the financial markets, get this one". Just a red tape thing, doesn't mean anything once you have it.

right, so the only difference between a guy getting 10 million in leverage with 5,000 cap and a retail guy getting 20,000 buying power is that one decided to study a few weeks to obtain this silly license.

Speakingout · Dec 16, 2003

Quote from bbuff10:

--- $0.006 per share Nasdaq or NYSE + SEC
--- no minimums
--- no software fee
--- no seat fee
--- trading in their office or remote
--- 85% - 95% payout
--- $2,000 to $5,000 deposit for up to $300,000 in buying power

Any feedback would help.

So here wo go again. Another "blow your mind" prop trading deal. When asked to have the firm PMed you will never get a reply. Another bunch of b.s. if you ask me. Par for the course around this site with most people here not liquid for any cash and unable to trade on their own money. All looking for the hand me outs from these fantasy deals that dont exist. I'm not interested in the name of the firm this guy claims is offering this deal, however, I am curious if anybody here was able to get the name of the firm privately from him. All you need to do is say yes. I'm sure the answer will be no.

Patient one · Dec 16, 2003

Quote from Speakingout:

So here wo go again. Another "blow your mind" prop trading deal. When asked to have the firm PMed you will never get a reply. Another bunch of b.s. if you ask me. Par for the course around this site with most people here not liquid for any cash and unable to trade on their own money. All looking for the hand me outs from these fantasy deals that dont exist. I'm not interested in the name of the firm this guy claims is offering this deal, however, I am curious if anybody here was able to get the name of the firm privately from him. All you need to do is say yes. I'm sure the answer will be no.

I'm sure someone will get a PM! How else is bbfuf10 going to recruit!! LOL