options prop firms

J

joepepper2001

I know theres a lot of props for equities and futures but i haven't seen any brokers who will let you daytrade options prop or with less then 25,000.00 deposit

anybody know of any?
 
Quote from whoknows?:

You might try Echotrade. I am looking into them now. I believe they do options through Merrill's clearing firm.
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you have to be licensed to trade with echo, I think

I don't understand why some props want a license and some don't
 
You do need a license with Echo. I believe if a company is an actual B/D then you would need a 7. Others are sub-LLC's trading their own accounts. I think the B/D route is safer, but I'm new to the prop thing so I am not 100% certain.
 
Quote from whoknows?:

You do need a license with Echo. I believe if a company is an actual B/D then you would need a 7. Others are sub-LLC's trading their own accounts. I think the B/D route is safer, but I'm new to the prop thing so I am not 100% certain.
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I think your right, to trade prop without a license I think it has to be a sub-llc but I think most of the futures are llcs and I just looked up that gci site and there forex with cdis which look to be almost options daytrading
 
Quote from joepepper2001:

I think your right, to trade prop without a license I think it has to be a sub-llc but I think most of the futures are llcs and I just looked up that gci site and there forex with cdis which look to be almost options daytrading
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sorry there called cfds

http://www.gcitrading.com/
 
Being licensed has nothing to do with being a BD. It depends which exchange a firm is a member of. And futures firms don't require you to be licensed as they are not regulated by the NASD but the CFTC.
 
Quote from joepepper2001:

sorry there called cfds

http://www.gcitrading.com/
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No. Regulatory restrictions in the USA mean that CFDs cannot be offered to US residents. With suitable experience US residents are, however, able to trade Foreign Exchange with CMC Markets. Click here for CMC Markets US site.
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I did some more research and cmc site had this on it, so cfds are not a way to prop trade options

still haven't found a broker
 
I am not sure of the regulatory issues with CFD's. I am a US citizen, and I know there are some issues with that. GCI is based out of Belize, I believe. Too scary for me. There has to be a better option for you.
 
Wait to trade option til you have some cash under your belt and play the game correct. Stocks do not move like they use to when a 10K options account was enough to make 20-30% a month to pull a check from. Being under capitalized is the killer for options guys these days.
 
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