Because I wanted to get info if anyone knew their comm and software fee's, plus more information on the lockout.. but because of a wanna be trader that has obv lost everything and is trying to blame it on prop shops claiming SPAM in NUMEROUS posts, I was sidetracked.
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"Locked up for a minimum of 12 months per sec rule"
- Thread starter KingDong130
- Start date
Yes, there is a 12 month lock up. My understanding is that it is in fact an SEC rule. They are very up front about it and told me on the phone during my initial call. I have been very happy with JC.
Keep in mind that it is only on the $7,500, not profits.
If the 12 month lock up is an issue then perhaps another firm would be best for you.
Keep in mind that it is only on the $7,500, not profits.
If the 12 month lock up is an issue then perhaps another firm would be best for you.
Dude, lighten up. They are one of the few firms that are allowed to "spam" since they are PAID sponsors here. However, reading 1000's of posts while researching prop firms I have NEVER seen them abuse this privilege. Not even once.
Quote from investigator7:
beware beware
another spammer
you are just here to be a spammer !
jc trading sent you here to post the following post?
tell your boss , how many of the guys there made money?stop using ET to post free ads
i think after team trading and oliver velez some one might start to look at the activity of jc trading
Quote from Itrade2009:
Yes, there is a 12 month lock up. My understanding is that it is in fact an SEC rule. They are very up front about it and told me on the phone during my initial call. I have been very happy with JC.
Keep in mind that it is only on the $7,500, not profits.
If the 12 month lock up is an issue then perhaps another firm would be best for you.
Ok thank you.. Do you mind telling me the commissions you are getting? You can PM if you would like.. Also how is the break there? Again thanks
Don must be travelling!!! Where are you Don!!! Here's some of his posts from the past:
"The firms that are adequately capitalized (meaning that they don't have to use the traders money for net capital requirements) don't have to worry about FASB 150 or locking up capital. Those that have the traders money at additional risk must keep the deposit money for a minimum of one year to avoid the appearance of "BORROWing" money from their traders.
As always, get a copy of their balance sheet before committing funds (when you make out and submit your U-4 application).
Feel free to call me, discuss anything, and I'll be happy to send you a contract to review...and I suggest you review it in detail.
Again, PM or call me if you like. 702.739.1393
All the best,
Don"
Quote from Itrade2009:
Yes, there is a 12 month lock up. My understanding is that it is in fact an SEC rule. They are very up front about it and told me on the phone during my initial call. I have been very happy with JC.
Keep in mind that it is only on the $7,500, not profits.
If the 12 month lock up is an issue then perhaps another firm would be best for you.
What a joke! No way is that in anyway a SEC RULE.
Your dumb mothers would believe anything!
Quote from KingDong130:
JC Trading sent this to me, saying $7,500 min, which is fine. However I'm confused about the lockout period, is it because they don't require the S7? At this point not being able to get my $7,500 back, I would rather just get my S7 and go to a place that requires the S7 and not have to worry about not being able to access my deposit if need be. Do you think this is negotiable? Also does anyone know their commissions? I asked and they didn't reply to that question, I'm just looking for something below $6/1000 to start off with and a decent break point after. I'm leaning towards JC since they offer Lightspeed.
You can do much better than $6/1000 with JC if you are doing the volume. $6 is just a stating point. Negotiate better.
Quote from traderx43:
I am with ptg securities .0025/1000 99 payout. I would imagine if you were quoted .006 your probably not even trading over 50k shares a day. I didn't even think those kind of rates exist anymore.
I would be careful there, PTG has the same phone number that Flat Iron trading used to have, and they closed shop with no notice...so it's safe to say its the same guys.
I see this time and time again, people don't stick with reputable firms that have been in business for years, and I just dont get it...but its your money.
I was with them when they were Flat Iron, they actually did provide all their traders with a heads up and were very transparent and clear with everything. They were a subsidiary with wts and decided not to do business with them anymore. Same owners now with ptg they are a subsidiary of avatar which seems to be working out for them much better.