Best prop firms in NYC for traders with quality track records?

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I want to add that when I do call them, I will post here the results.

If I don't hear any more responses, I will call the 4 mentioned.

Can someone answer this question: If I put up $10K and they put up $90K, and if there are $10K in losses are they all mine, or is that split 90/10? Thank you.
 
Fairly certain that the 10k loss is yours, unless you work out a specific deal stipulating otherwise.

Quote from birdstone:

I want to add that when I do call them, I will post here the results.

If I don't hear any more responses, I will call the 4 mentioned.

Can someone answer this question: If I put up $10K and they put up $90K, and if there are $10K in losses are they all mine, or is that split 90/10? Thank you.
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Bird,

To answer your question about losses, in any type of arrangement with your own capital up and near 100% payout the losses are yours - 100%. Rightly so though, they are in a low margin biz and are not betting on you, just facilitating you and offering huge leverage.

Assent and Hold Bros. are direct competitors and have some of the best deals. 99% payout (this because you are a partner and they have to keep something or it would be retail and different rules apply). Leverage will go to 50:1 pretty quickly, like a month in, after you show them you can trade. $10k will get you $500k in buying power. Payouts are every two weeks and commissions are about .004 cents/share. SEC and ECN fee's are yours to pay. That's it.

The other type of prop shop may/may not require a deposit, but its their money and some/most of the losses will be theirs. FNY, Access, T3, Madison . . .
 
bird,

For a "so called" successful trader your pretty stubborn (a very bad trait for a trader).

You don't have to give anyone a split and yes if you take a loss YOU absorb the entire amount.

If you want a JOB as a trader forget about prop firms and go to a bank or a brokerage house.
 
Quote from Tide31:

Bird,

To answer your question about losses, in any type of arrangement with your own capital up and near 100% payout the losses are yours - 100%. Rightly so though, they are in a low margin biz and are not betting on you, just facilitating you and offering huge leverage.
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Tide31-- many thanks for the information! I have a question for you. If I wanted to split the losses (just in case) 50/50, and I was willing to put up $10-$25K, what would be a reasonable split of profits? Is this a normal type of deal and I thank you again for posting!
 
Quote from Vespasian:

bird,

For a "so called" successful trader your pretty stubborn (a very bad trait for a trader).

You don't have to give anyone a split and yes if you take a loss YOU absorb the entire amount.
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Whatever "stubborn" qualities you think you see, my long track record still speaks for itself. I don't know if you can say I have any bad traits for a trader since I have very few periods of losses--and even when I do lose it's always very minor.

Quote from Vespasian:

If you want a JOB as a trader forget about prop firms and go to a bank or a brokerage house.
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Please explain why I would want to look for a job at a bank or brokerage over a prop firm. Do you think it's easy to get a job now at a bank or brokerage house? And thank you for the help!
 
you lose 5k and your 5 k is gone-you have to put more in-at least thats the way in the beginning.

call up the 3 different firms and speak to the people...you will get the best answers after you negotiate with each firm based on what deal they give you.


xd
 
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