Is HOLD Bros. going under?

john_nyc_trader · Oct 3, 2003

I am thinking of moving my account to them, but i keep hearing that they are in a money crunch: is this true or just a baseless rumor? Anyone have info, or if you work there, have you been hearing this/having a problem with withdrawing money?

John

okwon · Oct 3, 2003

I was there until about April of this year. I'm not sure about them having financial issues, but I had no problems at all getting my money out.

john_nyc_trader · Oct 3, 2003

I know that their financial situation was good then, but recently, I have been hearing that they are in dire straits. Have any contacts there that you know who might know something?

okwon · Oct 3, 2003

There are a couple of guys on ET that I think are still there. You can try sending a PM to calibertrader or goldenarm.

Casey30 · Oct 3, 2003

and I received my capital within a week or two. When I was there we received our paychecks on time every two weeks. I would think if a company was hurting for cash they would probably payout every month or so. They don't seem to be going under, but who knows when it comes to these things.

john_nyc_trader · Oct 3, 2003

Thanks, Okown. I will do some sniffinga round since these things happen quite often, i.e. TradeScape & BlackWood.

john_nyc_trader · Oct 3, 2003

Casey, thanks for posting your experiences with HOLD. If you don't mind me asking, what was the reason you left? rates/system?

Casey30 · Oct 3, 2003

The systems were having problems at the time I left, but that is not the main reason for leaving. I was offered better rates. So I went. As for the systems, I still have some friends there and they say things have stabilized systems wise. I guess it was a period of two weeks where they were having problems. I did like their execution system though(graybox), it is pretty fast.

All in all, prop firms seem to go through stretches were there systems are great and then all of a sudden there are some hiccups, where there just seems to be problem after problem. Sometimes it is only for a day or two, sometimes it can be for a week or more. I think hold went through that in late Aug early Sept and from what I have heard they have corrected the problem.

john_nyc_trader · Oct 3, 2003

Casey, sounds good. Thanks for the input. BTW, where are you now?

Omartrading · Oct 3, 2003

I think Blackwood is out of biz but I could be wrong. They had some beautiful furniture though.

Etradepro/tradescape offers prop trading with no capital down. The interview process is very complicated, we're talking spending a full day there and 3 waves of intervies. My friend is trading there right now and they are very picky, but you can give them a try.

Go check out the jersey city office and say hi to Gregg and Steve. If you see an empty room, you better go somewhere else.