Prestige Capital?

W

waxman

Can anyone give me insight on Prestige Capital? I was offered a shot with a subsidiary. Is this firm reputable, can I trust a subsidiary based on the reputation of the parent firm?
 
Would like to know myself. Getting info on them. They seem to offer remote, and have training programs. Anyone else heard of them?

gordo
 
I have an account at prestige using the tymorapro platform and I can only say that it's the best combination I've come across yet between pricing, functionality, and datafeed / execution speed and quality. Through tymorapro, I even have direct access to the BSE, CSE, and PHS exchanges and I can't tell you how many times I've grabbed stock off of them as the NYS quote pushed through. Regarding Prestige, basically they used to work exclusively with andover/assent (before it was bought out). My understanding is that after Assent merged with sungard, these guys bought the blackwood technology and have continued to develop it ever since. I don't use the blackwood front end but tymorapro hooks right into their backend for quotes and executions and I can only say I love it. Also, you don't have to worry about the firm taking the other side of your trades (ie. filled by TMBR). These guys also do lots of blackbox type stuff and that's also easy to do with tymorapro. In fact, I think for all the additional features of tymorapro, it would cost me as much to just use the blackwood front-end (at least over the internet)! Prestige clears through Lek Securities so that's where your funds would be held.

for your reference,
tymorapro - http://www.tymorapro.com
prestige - http://www.prestigecap.com
lek - http://www.leksecurities.com

btw, you can also sign up for a free trial from the tymorapro website.

hope this helps you with your research/dd! :)
 
just one more note - if you're interested in using tymorapro with prestige you'll probably want to go through the tymorapro site and they can set you up with the right people to talk to over at prestige to open a tymorapro live-trading account. i figure the branch you're talking to will probably try to sell you on the blackwood front-end. either way, if you have the chance it's worth trying out both and making up your own mind as to which one you're more comfortable using, and which you believe will give you the greatest trading advantage.
 
you got to be kidding. blackwood has to be the one of the worst softwares i've ever seen. i left them 4 months ago as there system went down at least 2 times a week. it was horrible. why do you mention lek? were you retail? lek doesn't even give you monthly statements. who's the other front end you mention? if there quotes don't work it matters little what you use
 
were you clearing through someone else through prestige? prestige has been clearing mostly through lek (as well as petra trading, their BD arm), as far as I know. you can get statements, etc, all online from the lek website that shows all statements, etc. If you mean you don't get a mailed statement, that's true, but then again, my interactive brokers account doesn't mail me that either! they did have a few issues a few month back because of problems with some vendors but they've since switched to much more reliable providers - and i believe they even kept the other as an additional backup. either way, I rarely have trouble hitting the quote I want which, and even when they did go down it was usually for just a few minutes. I remember in the past once being down for nearly a half a day in my interactive brokers account while they had some technical difficulties (which I believe they've long since worked out). There are always a few issues here and there - it's just part of the game. Prestige's people are also easily reachable directly in case of any problems. I also compare the quotes from several vendors and they're right on the money. These days, nearly all my short-term/scalp trades are done exclusively via the tymorapro/blackwood combo, and my other accounts are used for just in case moments and longer-term positions.
 
is prestige a NYC firm, what's the minimum capital requirement, is series 7 needed and what kind of leverage can one expect right out of the gate?

thanks,

surfer
 
Market,

been looking into them. They seem good so far. It looks like 10k min contribution. They have an office in NYC, maybe other locations, Florida I think. Have not heard anything on the series 7 yet. But would guess that they do. Can also trade remote. Comissions/payout/fees seem competitive. Sounds like some of their better guys have been with them for years. Would like to hear more if there others that know about them. Could not find much said about them. Their software is supposed to be good.

gordo
 
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