Does this type of deal exist?

M

mitchellh

I'm experienced profitable futures trader. I have in the past traded stocks and am looking to start trading them more actively again.

I am researching the idea of trading stocks via prop (to get a bit more BP than I have currently) . I am not a penny scalper, nor am I looking to rebate trade. Is it possible to get this kind of deal, and if so, what firm would offer this. I am looking for:

-no series 7 or 55 required
-$5 -$10K deposit (I am looking for $100K - $200K BP)
-Decent commish (doesn't have to be the lowest)
-At LEAST 90% payout (if I am taking all the risk, then 100%)
-Must be able to trade remotely
-Must be able to trade my own style
-No "training" program required

I would greatly appreciate any information that can be provided. Thanks!

Mitch
 
lmao if you commit to 30-50k vol a day you can easily get 250k buying power with 5k down 100% payout and .003 commish. i'm not going to name any names just do your homework. if you're remote you cost nobody anything so you can get a great deal
 
I don't think that kind of deal exists, perhaps if you write the exams a few doors might open. Good luck with your search, and please post if you find a deal like this.

Continued success,

Mike
 
Thanks for the response. I wouldn't want to have to be forced to trade over 50K shares a day. I pick and choose my trades carefully. Some days I may not trade at all, while other days I may trade 150K shares.

I have only found one firm so far that doesn't require one to have a series 7 or 55...
 
the above poster knows little. i've talked with at least 50 companies the last 5 months and many deals like the i mentioned exist under an llc. one does not need a license under an llc. i've financed a few guys i know myself at .005 5k down and 100% of profits. there's 50-1 and up to 100-1 margin out there. if you don't want to commit too vol i'm sure you can still get .005-.007 with what you're looking for
 
Quote from joeyata1:

the above poster knows little. i've talked with at least 50 companies the last 5 months and many deals like the i mentioned exist under an llc. one does not need a license under an llc. i've financed a few guys i know myself at .005 5k down and 100% of profits. there's 50-1 and up to 100-1 margin out there. if you don't want to commit too vol i'm sure you can still get .005-.007 with what you're looking for
More...

Perhaps I don't know all of the deals out there, I am familiar with many of the shady deals going on out there. Who wants to become a member of a "shady" llc deal, put together by a few guys with 50k, and almost certain risk of blowing up? If the LLC does survive, then good luck at getting your capital, and if you do get your capital I am sure their will be some "deductions" for use of capital etc. ( I have seen numbers around 15 to 18% per year)

A warning to the original poster, the last shady LLC that I joined took me for an extra 5k in expenses when I went to pull my money out, at this point, I am taking legal action against them, but you know who comes out on top of that game!

You might have talke with 5, but i doubt fifty! And since claim you did talk with 50, list them here along with contact phone numbers!

And since you do seem to know it all, How do they get around licensing requirements if the trader has his own capital at risk?
 
Newbies, be forewarned......these deals are risky. There is nothing to stop a hedge fund from blowing up, and losing all of your money. Granted, you are only putting up 5 or 10k, but getting taken still hurts. Often times, they add in "back-end" charges for capital usage etc.

Find a solid firm, and go with them.

Good luck with your search.
 
Quote from mschey:

Newbies, be forewarned......these deals are risky. There is nothing to stop a hedge fund from blowing up, and losing all of your money. Granted, you are only putting up 5 or 10k, but getting taken still hurts. Often times, they add in "back-end" charges for capital usage etc.

Find a solid firm, and go with them.

Good luck with your search.
More...


I have to agree with mike on this 1. stay away from these kind of deals.. 99% of the time you will regret getting involved in this situation. the structure of these llc's are very much a grey area. suck it up and get your lic. unless you possess the smallest of brains you should have no problem passing all of the necessary tests..
 
Quote from mschey:

Perhaps I don't know all of the deals out there, I am familiar with many of the shady deals going on out there. Who wants to become a member of a "shady" llc deal, put together by a few guys with 50k, and almost certain risk of blowing up? If the LLC does survive, then good luck at getting your capital, and if you do get your capital I am sure their will be some "deductions" for use of capital etc. ( I have seen numbers around 15 to 18% per year)

A warning to the original poster, the last shady LLC that I joined took me for an extra 5k in expenses when I went to pull my money out, at this point, I am taking legal action against them, but you know who comes out on top of that game!

You might have talke with 5, but i doubt fifty! And since claim you did talk with 50, list them here along with contact phone numbers!

And since you do seem to know it all, How do they get around licensing requirements if the trader has his own capital at risk?
More...

This has been my probem as well....

I dont trust any of these llc setups...

Nick
 
no doubt when you got with an llc you got some risk. but when you only got 5k to invest you got problems anyway. so with 5k you got limited choices and with 5k and no series 7 you got even less choices. its also possible if you do good one month the llc guy might stiff you. mer personally i only trade insured retail as all i need is 4-1 on the money i use
 
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