the education fee is 3500.00 for prior prop traders. i am not sure wether you would ever have to put up more than the 2000.00 , but i will certainly find out. thruthfully, i did not even think about this possibility and thank you for bringing it to my attention. i assume you never have to put up more money since you are part of the prop firm and are inducted into the trader advancement hierarchy. you start out with so little share size that a draw down is irrelevant until you get to bigger tradable size. when you trade larger size, and then lose money, you are quickly demoted and reduced in your max share size, but it is certainly possible to blow through the 2000.00 despite being demoted from higher trading levels.
Ex Vcm'er Thinking Of Joining Pristine's Prop Program
- Thread starter drayton sawyer
- Start date
there is a 69.00 monthly accounting/admin fee which goes to wts. you trade remotely on different platforms such as lightspeed or laser. there are different platform and/or data fees depending on which platform you choose.
What do you mean about so little share size? Do you only get to trade 100 shares? If you are trading 10,000 shares, you could blow $ 2,000 in one hour.
OP - find out if Pristine - that means everyone there - is registered with WTS. Find out if they are all taking the Series 24, since they'llbe supervising traders, they need to be studying right now or their course is over. If they are not registered, this is not above board. They can not be advertising for WTS (a registered broker dealer) nor cutting deals for them if they not registered. That is a big no-no that gets you fines (individually and the firm who permitted it, or was supposed to be supervising too).
If they are working something that isn't fully aboveboard, you'll be stuck with your money at WTS and with no program to follow.
That all being said, why don't you get a real job. Seriously, do you think you can learn to make an actual living with $2,000. Even Bright, who will accept newbies, has a minimum of $20,000. Why? My gut says they don't want a 100% failure rate. Pristine doesn't care b.c all they want is you to cut the check for education. WTS doesn't seem to care if they teach you the world's least profitable strategies either, so caveat empor.
If they are working something that isn't fully aboveboard, you'll be stuck with your money at WTS and with no program to follow.
That all being said, why don't you get a real job. Seriously, do you think you can learn to make an actual living with $2,000. Even Bright, who will accept newbies, has a minimum of $20,000. Why? My gut says they don't want a 100% failure rate. Pristine doesn't care b.c all they want is you to cut the check for education. WTS doesn't seem to care if they teach you the world's least profitable strategies either, so caveat empor.
thanks sgt slotter. looks like i am just going to stick to retail. save my 25000.00 and do it by myself with my own terms. thanks to everyone who wrote to help me out, even to the jokers telling me that i must have rode the short yellow bus. if i do go prop i will save 20000 or so and go with bright who i know has a stellar reputation and follows the rules.
If you want leverage, you can open a retail futures account for $ 5,000.00.
hi oraclewizard where can i do this, any suggestions?
You have to be nuts to even think of joining - The're not regulated - Oliver Velez ripped hundreds of traders off with this business model. He simply change company names and started the same old scam again with iFundTraders.
Any company can shut shop and take your money if not regulated by the SEC.
Any company can shut shop and take your money if not regulated by the SEC.