Futures prop shop ?

Quote from biologymajor:

I know this thread is over 5 years old and the company redwood is out of business now. So you were right. But "how do we check thier financial statements?". Are they suppose to list this information on their website? I don't see nothing on any of these websites. And what are we looking for in the financial statements? Are we looking for assets over 5 mill? Or would 5 bill be better? Or 1 bill? What do we look for? I hope nobody joined this redwood vegas office that the original thread was about. They aren't there any more. Their financials must have been lowwwww.
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I'm sorry for doing this again, long timer ET'ers.

Before joining any securities business, at any level, check the balance sheets of the firm. Check to be sure that they are not a "sub-llc" - be sure they are either exchange members (which we are), or at minimum a member of the NASD...otherwise you have little, if any, recourse. The stories on ET are horrible.

Due diligence, common sense, and then get involved. If you need a balance sheet analyzed, I would be glad to review it for you (I've looked at dozens for ET'ers).

Don
 
Quote from EqtTrdr:

what's one round trip cost you on global?
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you can make your own deal, if you go with 300.00 its going to be 4.98 a side per contract but if you open an account for more then 500.00 then you can work your own deal, if your trading somewhere else then they will beat your deal
 
Quote from joepepper2001:

you can make your own deal, if you go with 300.00 its going to be 4.98 a side per contract but if you open an account for more then 500.00 then you can work your own deal, if your trading somewhere else then they will beat your deal
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$5.00 per round trip, right? Not per side...heck, we pay too much, and it's only $4.75 round trip. Still can't compete with the floor firms who pay less than 20% of that price.

(Just trying to correct).

Don
 
Quote from Don Bright:

$5.00 per round trip, right? Not per side...heck, we pay too much, and it's only $4.75 round trip. Still can't compete with the floor firms who pay less than 20% of that price.

(Just trying to correct).

Don
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I pay 5.00 for round trip but if you want to use the 300.00 margin then you pay 4.98 per side or 9.96 round trip

you pay a premium for that option but for some guys it may be worth it

10.00 for a chance to reap 100- 500 a day if you trade long not great but it gives guys a chance to trade and if you only have 500.00 to start you have a 200.00 draw down before you would be called

the web site has the details, theres some limits there in the fine print
 
Quote from joepepper2001:

I pay 5.00 for round trip but if you want to use the 300.00 margin then you pay 4.98 per side or 9.96 round trip

you pay a premium for that option but for some guys it may be worth it

10.00 for a chance to reap 100- 500 a day if you trade long not great but it gives guys a chance to trade and if you only have 500.00 to start you have a 200.00 draw down before you would be called

the web site has the details, theres some limits there in the fine print
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http://www.globalfutures.com/promo/300dtm.asp
 
"$300.00 margin"

I don't think I could ever feel comfortable using that much leverage. That's insane... wow (Not smart IMO)

I'm using 10k per ES contract.
 
Why pay the premium in commissions if you are never going to trade at $300 margins? That's just a waste of money. If you do plan on trading $300 margins, then I'd love to see your risk and money management.

-Raystonn
 
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