Prop Firms for Experienced Traders

M

manwstock

Can anyone recommend a prop firm that accepts experienced traders and allows overnights and option trading? I have come across a few legit firms, but they require an extensive training program. With my experience and past success (verifiable), I'm just looking for capital.

I'm looking for access to $500k in capital of which I'm able to contribute 20% of that amount.
 
manwstock said:
Can anyone recommend a prop firm that accepts experienced traders and allows overnights and option trading? I have come across a few legit firms, but they require an extensive training program. With my experience and past success (verifiable), I'm just looking for capital.

I'm looking for access to $500k in capital of which I'm able to contribute 20% of that amount.
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hmmm....

have you looked at Interactive Brokers Portfolio Margin? 6:1 with $110K which is about what you stated as a contribution...

you can also look at WTS and Bright Trading... neither of them will require training if you are doing your own thing and indeed have a track record you can show them...
 
manwstock said:
Can anyone recommend a prop firm that accepts experienced traders and allows overnights and option trading? I have come across a few legit firms, but they require an extensive training program. With my experience and past success (verifiable), I'm just looking for capital.

I'm looking for access to $500k in capital of which I'm able to contribute 20% of that amount.
More...

Sounds like all you need is portfolio margin. And Bright and WTS don't offer options.
 
Maverick74 said:
Well, they did exist. A lot of them did. It's just not economically viable to operate a JBO anymore.
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Since history is repetitive as soon as our licenses expire, the current system will change and one will perhaps need S7 or S56 to even to trade on IB. I have seen this cycle once before eg when I started trading full time back in 2006 only props requiring S7 were Bright Trading and ECHOtrade. At that time you could trade at WTS, VTrader Group, Schonfeld Group, SMB Capital, T3 etc. without any licenses....
 
dealmaker said:
Since history is repetitive as soon as our licenses expire, the current system will change and one will perhaps need S7 or S56 to even trade on IB. I have seen this cycle once before eg when I started trading full time back in 2006only props requiring S7 were Bright Trading and ECHOtrade. At that time you could trade at WTS, VTrader Group, Schonfeld Group, SMB Capital, T3 etc. without any licenses....
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Honestly, getting a license, any license, is by FAR the easiest part of trading. Not that I'm a big fan of licenses. But again, I repeat, there has to be "some" economic motivation for firms to exist in this space. Prop firms are not a public utility. And option prop firms need even greater incentives. The blowout risk is magnitudes higher.
 
manwstock said:
Can anyone recommend a prop firm that accepts experienced traders and allows overnights and option trading? I have come across a few legit firms, but they require an extensive training program. With my experience and past success (verifiable), I'm just looking for capital.

I'm looking for access to $500k in capital of which I'm able to contribute 20% of that amount.
More...

Cassandra Trading in Chicago. Clears through Goldman under a JBO structure so you will need a Series 56.
 
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