Prop Firm Recruiters

[pyramidork]

I know this question has been asked and addressed many times, but can someone post an ET link or suggest questions that a noob should ask prop firm recruiters, please. I am interviewing with several ET respected prop firms and I can't seem to find a decent and full list of the important points a noob should be aware of before committing to a firm. thanks

 

[Don Bright]

Quote from pyramidork:

I know this question has been asked and addressed many times, but can someone post an ET link or suggest questions that a noob should ask prop firm recruiters, please. I am interviewing with several ET respected prop firms and I can't seem to find a decent and full list of the important points a noob should be aware of before committing to a firm. thanks

As posted many times in the past, this applies to most firms, not all, but most business ventures in general.


As with any business venture:

1. Check regulatory affiliations (exchange member or NASD).
2. Check for any regulatory infractions (some have long lists, some don't).
3. Check financial security by getting a copy of the firm's balance sheets.
4. Be extremely cautious of "sub-llc's" - put your money with the main firm, not an offshoot.
5. Licensing procedures (will they sponsor you for your license?).
6. Be sure they have a good Clearing firm (after all, they act as your "bank").

And the obvious things like time in the industry, number of existing traders, etc.

Your accountant or lawyer should be able to add to this list.


Don