Quote from Get In Get Out:
I just spoke to a guy that supposedly runs the place...guy name is dan fisher. Supposedly they have 3 offices in the new york area. Said that they support 20:1 leverage during the day and 10:1 leverage for overnights....u keep 100% profits...they make their money on commissions only..supposedly.
I worked for a firm in NYC and was told that it is illegal for a prop firm to take a capital contribution, so when I asked if I can have an interview, they said they hire everyone because the firm only excepts capital contributions and when u blow out your account thats it you account gets shut down. So if it is illegal for a prop firm to take a capital contribution according to T3 prop firm, then how are these guys still in business. The guys response to me was that they are registered in a way to take capital contributions. My worry is that after giving a firm like this a capital contribution & they get nailed by the sec or something happens then you are out of your initial money that you put up plus all the time it took you to make profits building up the account. Any info would be great in addition to what I posted above....cheers and good luck to all
Quote from Gcapman:
Ask Dan what happened to the capital that traders put for deposit at their sub-llc Next Level Trading when the owners ran away....
Quote from Get In Get Out:
I just spoke to a guy that supposedly runs the place...guy name is dan fisher. Supposedly they have 3 offices in the new york area. Said that they support 20:1 leverage during the day and 10:1 leverage for overnights....u keep 100% profits...they make their money on commissions only..supposedly.
I worked for a firm in NYC and was told that it is illegal for a prop firm to take a capital contribution, so when I asked if I can have an interview, they said they hire everyone because the firm only excepts capital contributions and when u blow out your account thats it you account gets shut down. So if it is illegal for a prop firm to take a capital contribution according to T3 prop firm, then how are these guys still in business. The guys response to me was that they are registered in a way to take capital contributions. My worry is that after giving a firm like this a capital contribution & they get nailed by the sec or something happens then you are out of your initial money that you put up plus all the time it took you to make profits building up the account. Any info would be great in addition to what I posted above....cheers and good luck to all
Quote from Gcapman:
Ask Dan what happened to the capital that traders put for deposit at their sub-llc Next Level Trading when the owners ran away....
Quote from PiggyBank:
I don't know Dan, so can I ask u? Also, just as general advice for anyone, be weary of sub llcs unless you know who is backing them, and I don't mean the firm, I mean the person.
Quote from Get In Get Out:
How is everything going with you as you try to find a firm to back you without a capital contribution.? I am in the same boat. I worked for t3 and felt way too pressured in the office by the managers to produce, so know I am trading s&p futures at a private office while I look for a firm closer to long island. I was looking into dimension but I dont like their front end. Are u still at a firm trading?