Prop deals in Canada
- Thread starter Datradr
- Start date
I met with Questrade in Toronto last year...
They are interesting and probably legit...
But you will never get anything near IB's rates with them.
So what if they give you 6:1...
There is no way to make a living at flat rate $9.95 + $1.00 surcharge.
Their psychology is that of a pure "middle man" who gets paid first.
In the end...
They will end up with 100% of your profits as planned.
rm+
They are interesting and probably legit...
But you will never get anything near IB's rates with them.
So what if they give you 6:1...
There is no way to make a living at flat rate $9.95 + $1.00 surcharge.
Their psychology is that of a pure "middle man" who gets paid first.
In the end...
They will end up with 100% of your profits as planned.
rm+
Im so sure that their rates are all that bad.
http://www.questrade.com/platforms/proprietary.html
A high volume trader will get .002 per share or less and if you dont mind giving 20% of your profit away, you get a rate of .0005 per share. If your trading in a default of 1000 shares, thats ONLY 1 dollar for a round trip. I haven't used them personaly, cause I would like to see more than 10-1 leverage. I believe that if they can provide more intra day bp, they will be big players in Canada.
Whats the alternative in Canada ?
Swift trade, Golden, Bright...
Not much choice up here.
I would also be interested in any other Canadian Prop Firms that are operating in the West.
http://www.questrade.com/platforms/proprietary.html
A high volume trader will get .002 per share or less and if you dont mind giving 20% of your profit away, you get a rate of .0005 per share. If your trading in a default of 1000 shares, thats ONLY 1 dollar for a round trip. I haven't used them personaly, cause I would like to see more than 10-1 leverage. I believe that if they can provide more intra day bp, they will be big players in Canada.
Whats the alternative in Canada ?
Swift trade, Golden, Bright...
Not much choice up here.
I would also be interested in any other Canadian Prop Firms that are operating in the West.
Well...
That was not available 12 months ago...
And their office seemed pretty dead with only 1-2 people gazing at trading screens.
In terms of office/people infrastructure and charges for CyberTrader...
I don't see how they can compete with IB's lean machine.
Where exactly is their profit margin?
Their ** stated ** business strategy was providing lucrative Prime Brokerage services to hedge funds...
Quite different from running a volatile prop sweatshop with tiny margins.
Also...
If your 25 and have $10,000...
Then you have nothing to lose... go for it.
If your like me... 40ish with $1,000,000...
There is no way that bundle is gonna ride... on some complicated proprietary contract...
With a company that has no visible profit margins.
Who ya gonna call if something goes wrong?
There is nobody to call.
Risk management starts with choosing your broker.
rm+
That was not available 12 months ago...
And their office seemed pretty dead with only 1-2 people gazing at trading screens.
In terms of office/people infrastructure and charges for CyberTrader...
I don't see how they can compete with IB's lean machine.
Where exactly is their profit margin?
Their ** stated ** business strategy was providing lucrative Prime Brokerage services to hedge funds...
Quite different from running a volatile prop sweatshop with tiny margins.
Also...
If your 25 and have $10,000...
Then you have nothing to lose... go for it.
If your like me... 40ish with $1,000,000...
There is no way that bundle is gonna ride... on some complicated proprietary contract...
With a company that has no visible profit margins.
Who ya gonna call if something goes wrong?
There is nobody to call.
Risk management starts with choosing your broker.
rm+
I thought IB was just for retail ? Do they also have Prop as well ? Just asking cause I think the OP who started this thread is looking for Prop shops. Also, if you have a million then you obviously dont need some "prop contract" as you have figured this game out already 
Titan Securities might not be the nicest office in town cosmetically, but it's a good environment. Environment is more then expensive paintings on the wall and if you take one look at the P&L on the traders screens, you would see why the traders far from depressed. I'm bias because I work there. But I just wanted to set the record straight.
