I've called a few Prop Firms...

Cheers PT, I'll make sure I perform my due diligence.


I checked out a few firms (I'm looking for cdn preferably) but one was shady, two were very good with providing all info, but one had fairly low payout and the other with a better package didn't offer remote.

Anyone recommend some shops in the 0.002 commish range, decent payout (capital requirement not a problem) in Canada that offer remote and are reputable (IE pay as promised, no capital lockup period, good platform choices, etc..)

PS - I've searched these threads endlessly and there seems to be no consensus so please don't think I haven't done any research on this question.

JO
 
Quote from jo0477:

Cheers PT, I'll make sure I perform my due diligence.


I checked out a few firms (I'm looking for cdn preferably) but one was shady, two were very good with providing all info, but one had fairly low payout and the other with a better package didn't offer remote.

Anyone recommend some shops in the 0.002 commish range, decent payout (capital requirement not a problem) in Canada that offer remote and are reputable (IE pay as promised, no capital lockup period, good platform choices, etc..)

PS - I've searched these threads endlessly and there seems to be no consensus so please don't think I haven't done any research on this question.

JO
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I was going to reply but your name looked familiar. I realized we exchanged a couple of email regarding this. Anyways I have nothing further to add hahaha... I don't trade remote so maybe some one who does can help you further
 
Quote from WhiteOut56:

interesting... if you already have a S7 would you still be required to take this?
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According to the SEC's latest regulatory circular, the new exam applies if you're a member of a CBSX firm, and does not exempt a person who already holds a S7, even though they received commentary from another firm that it was an "unfair burden" to ask those who already hold a S7 to take a new exam:

http://www.sec.gov/rules/sro/cboe/2010/34-63314.pdf

Here's an excerpt regarding the proposed new exam:

"CBOE is developing an alternative to the Series 7 examination that is specifically tailored toward individual TPHs and associated persons of TPHs that are engaged in proprietary trading. CBOE has represented that within six months of the date of this Order it will have completed the development of this qualification examination and will file the examination with the commission. All individual TPHs and individual associated persons must take and pass the new examination, as applicable, no later than August 12, 2011."
 
Quote from LeeD:

I think you are missing the business model on which a number of "prop" firms operate. Many have a similar busines model to a broker. They charge training fees, desk fees, commissions. As such their interests are not completely aligned with the interests of a trader.

On the other hand, if a firm possesses a trustworthy backtested trading method, why do they need to train 50 traders to enter trades following these backtested indicators? Instead they would hire 3 programmers and start trading all accessible markets in an automated manner. It is a mistake to assume that a novice trader can massively improve a backtested algorithm by adding "subjectivity" or "common sense".

Also a number of hi-end prop firms (the ones that demand no capital contribution and even pay salary) specialise at cherry-picking already successful traders.
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This is exactly the reason prop trading and day trading has such a bad name. The business model is designed to run the trader out of business, not keep them in business. They have to churn the account for the firm to make money.

I said nothing about a novice being able to make a system better by adding "subjectivity" or "common sense". Very few day traders have big advantages and missing just a few cents could make them unprofitable.

I also don't really know what you are referring to 'indicators'...I said nothing about an indicator...
 
They are some Cocky Dudes over there.
Quote from zdreg:

bigpapi


Registered: Dec 2009
Posts: 299


01-02-11 10:51 PM

Quote from MoneyMatthew:


I first spoke with JCTrading Group. They made is clear to me that $10K is the minimum deposit or excuse me "capital contribution".

This runs counter to a few of the posts I have read on here. I could hear the energy leave the conversation the second I told them that I dont plan on trading more than 3 or 4 lots per day (300 or 400 Shares) with only 1 trade per day.



jerks

what are your reasons for calling them jerks?
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