Generic

Quote from nitro:


Professional Firms = Bright, Echo, etc, i.e., you put up your own money and payout is 100%

Proprietary Firms = Worldco, ETG, Shoenfeld, i.e., they put up the money, you get a percentage

Retail = Interactive Brokers, etc, e.g., SIPC protection, your own money, 100% payout.

Obviously, there are some that do 2 of the 3 above. AFAIK, there isn't a firm that can do all three.

nitro
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Pointdirex provides all three.
 
nitro

Generic is a proprietary firm along the lines of Worldco, ETG, etc.
Their retail arm is Carlin Equities, and the umbrella company is Carlin Financial Group.
 
Thanks for all the replies and clarification. I thought I was up to date on this stuff, but I am clearly not.

The pace at which the industry is moving towards capturing professional, retail, and proprietary traders under one "roof" is by the likes of Generic, Pointdirex, Greentree, Shoenfeld, Andover etc, etc, is astonishing.

These could be interesting times and a terrific opportunity for those of us that are willing to venture...

nitro
 
Self clearing firms may have cost saving advantages but this may not be the case across the board. A broker dealer who does good volume will generally have a good deal with its clearing firm. In my case, my rate is as good if not better than self clearing firms.
 
Quote from traderjimbo:

I was interested in hearing what kinds of deals people have heard Generic is offering -- capital down vs. no capital down and things like like payout(monthly and year-end), commission and bullets ?? thanks
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carlin is full of sheisters and shady crooks...
 
I got this offer from Generic NYC and I am wondering what the real deal is. No money down, 60% pay out, mentorship, they pay for licenses. Once I start earning I have to amass 25K then my payout raises, fees go down (not sure where they start, have to talk to the guy today)

Some ppl are bashing Generic, some are not... I have no money to put down and I am trying to get a foot in the door here. Could I get some advice on if it's a good idea to start with them? Will I learn how to trade? Will I be able to make a living within 6 months?
 
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