Madison Proprietary Trading Group

Quote from Energy Raider:

I recently turned down an offer from them. They wanted my to put up capital and they would "match" it with margin capital with the agreement to give me more capital to trade with after a test period. I wasn't happy about them only leveraging me against my capital. That was strike 1. Then I read the contract they sent me and they and it stated they could keep my money for up to a year if I decided to leave them at any point within the first year of me trading with them. Strike 2! Then I saw their commissions they wanted to charge me for trading futures. Strike 3!!
They have a good reputaion from the people I asked, but I just wasn't interedsted in their deal.
Hope that helps.
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Energy Raider.....Refer to SEC Rule 15c3-1. All intial capital contributions are required to be locked up for a period of 1 year. It is a net capital requirement. If the firm is going to include your capital contribution in its net capital computation and is not locking it up for a period of one year...then they are in violation of the net cap requirement. The commission has stated that an affiliate’s infusion of funds into a broker dealer and subsequent withdrawal after a short time can be viewed as a loan and considered a liability of the broker-dealer
 
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