Navillus Securities

Trader7793 · Jul 23, 2003

Has anyone on this board had any recent experience with, or know of anyone who has had any dealings with a trading firm called Navillus Securities based in PA?

gimp570 · Jul 24, 2003

i used to work there...I think they are getting away from Prop. trading and getting into more instructional type of trading

chasinfla · Jul 24, 2003

good people.

TM_Direct · Jul 24, 2003

Quote from Trader7793:

Has anyone on this board had any recent experience with, or know of anyone who has had any dealings with a trading firm called Navillus Securities based in PA?

I know a guy who used to work for them and he says 1) great group of people and if he was staying in Tampa he would have stayed with them and more importantly 2)Navillus got its names from it;s owner...SULLIVAN.....spelled backward!

Trader7793 · Jul 24, 2003

Thank you for your responses.

I have been in contact with the person who "manages the remote trading desk" for them and from what has written about the firm they might be a good fit for the type of remote trading that I am looking to do.

They will hold my licenses for me, only want a $3000 deposit and will give me between $60K and $80K intraday buying power to start with. Their commissions are a little higher than some other firms out there, but they do have a 100% payout.

My only concerns revolved around whether they dealt with their traders fairly and the reliability and quality of their quotation and execution software...

chasinfla · Jul 25, 2003

they are fair. the software is at least as good as anyone else's, because everyone's using the same packages.

gimp570 · Oct 7, 2003

Quote from Trader7793:

Has anyone on this board had any recent experience with, or know of anyone who has had any dealings with a trading firm called Navillus Securities based in PA?

They are out of business as of a couple of weeks ago....Not many quality offices left any more..

Trader7793 · Oct 8, 2003

Where did you here about them being out of business??

gimp570 · Oct 8, 2003

Quote from Trader7793:

Where did you here about them being out of business??

I got a letter in the mail saying that they are closing. And everyone had to move there accounts. I also know a bunch of traders there

M

Japhy · Oct 8, 2003

Quote from gimp570:

I got a letter in the mail saying that they are closing. And everyone had to move there accounts. I also know a bunch of traders there

M

Can anyone else confirm this info???