Everest Capital in Toronto?

Quote from CrazesSOB:

Hi,

I have another thread going in an effort to try to get to the bottom of this industry (I only started looking into day trading only last Thursday).

The question I have is what makes a prop trading firm a scam? The ones that accept a deposit and simply provide leverage seem to be all alike. What characterizes a scammer out of this seemingly homogenous group?
Is it that their risk system is so tight that it can only generate commissions? Do they have the balls to not pay the traders who profit? Or do they simply pack up and head back to Nigeria once enough people deposit their money in the firm?

Thanks,
CrazedSOB
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Most prop shop owners actually start out with fair/honest intentions. But since the business is very competitive and sometimes faced with losses either from trading or the business does not generate enough revenue, some will then decide to close up shop & run. Others may keep the shop open but be a perpetual pain in the ass to any trader wanting to leave & get his deposit back.
Good firms (profitable) seldom run/close down. Why end a good thing?
 
Quote from jonp:

I worked with the guy that's gonna be running/owning this place. From my experience he is a fair and honest man.
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You don't mention where or when you worked with "the guy" nor his name. Certainly not much of recommendation unless you are the nameless guy.
 
Quote from JBahn:

Everest looks like it might be a scam..........
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ya think........?

where do people dig up this crap.

WTS should be renamed wtf when the french guys scam off all the $.

-1

s
 
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