I'm not really sure what point you're trying to make, but you seem to have made one of mine for me. I agree, if you think you can make any real money with $25K go for it, IB is a fine, reputable firm (and the only retail firm I have ever recommended to those who want to stay customers). The 1 cent per share, which once was a good number, is now at the higher end for nearly everyone now. The market access is still considerably different....i.e. try to go to a regional exchange price, between the markets, and get an ITS fill from NY. It won't happen as a customer. Anyway, the Retail vs. Proprietary discussion is pretty much old hat by now, and I think most traders realize the differences.
Proprietary firms are set up for those who put to use some serious capital in their trading, effect current "state of the art" strategies unavailable to retail customers, and who want the tax benefits of a single reported tax figure at year end (and the other tax benefits allowed members). New people, of course, grow into the need for capital as in any other business, and many retail traders can do just fine where they are.
I'm not sure what you mean by the $10Mil of minimum "owner" equity. All traders should know how well their firm is capitalized before joining up, or they risk the same fate as those at Harbor, Block, and dozens of others (and a couple "soon to be"). The $10Mil is simply a minimum buffer that we (Bright Trading, Inc. the "owner" or Class A member of Bright Trading, LLC keeps to protect the traders from losses in excess of their deposit money). Even a year ago we published somewhere around $150 million for the firm as assets (sorry, I am home,and don't have the statements in front of me), and this year we will show considerably more. This is in no way an outrageous "claim" or an attempt to put down others...it is simply a business fact (we have to show this to the new landlords when we open offices, our new traders, all members, etc.)...
I know for a fact that one "major" firm chooses to take out nearly all their capital and simply leave the traders money in the LLC. This is causing them great trouble at month end (their traders are told to limit their positions at month end....how scary is that??).
And, for the record, you won't see any "Bright" family member playing silly gambling games, we play (when we can get away with it) blackjack or baccarat for fun...it is obviously better than paying Country Club dues, and we get to see great entertainment!
Like I've said before on the board, I am sure most of your comments were in jest, but I like to respond for the benefit of others.
