VTrader does not require a series 7.
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Prop Trading in San Francisco
- Thread starter bv321
- Start date
VTrader does not require a series 7.
Quote from dealmaker:
"VTrader does not require a series 7." - Maverick 74
VTrader has programs for both for traders with series 7 and retail. Their capital contribution requirements are a bit higher than other prop firms I am aware of.
You can have a series 7, but it's not required. And yes, they also have retail portfolio margin accounts.
Quote from jbuckle7:
If you're an experienced trader why not just trade with a FCM like velocity, global or advantage. Whats the point in trading for a prop firm if you have an identifiable edge?
Good point, I would much rather trade my own account and keep all my profits. However, I would like to be surrounded by other professional traders to exchange ideas and stay ahead of the curve. I think I would benefit from being in that environment versus trading from home. Perhaps a trading arcade is more what I'm looking for, and I haven't looked into that too much, but generally I get the feeling that there aren't a whole lot of experienced traders there. I could be wrong. Maybe I just need to move to Chicago and rent a desk at the CBOT. Thanks for your input.
"If you're an experienced trader why not just trade with a FCM like velocity, global or advantage. Whats the point in trading for a prop firm if you have an identifiable edge?" - jbuckle7
Most traders use prop firms because of leverage but there are other reasons also eg execution, platform etc..
Most traders use prop firms because of leverage but there are other reasons also eg execution, platform etc..
"Good point, I would much rather trade my own account and keep all my profits. However, I would like to be surrounded by other professional traders to exchange ideas and stay ahead of the curve. I think I would benefit from being in that environment versus trading from home. Perhaps a trading arcade is more what I'm looking for, and I haven't looked into that too much, but generally I get the feeling that there aren't a whole lot of experienced traders there. I could be wrong. Maybe I just need to move to Chicago and rent a desk at the CBOT. Thanks for your input." - Bill Tradeswell
Until the most recent Fin. Reg. you kept 100% of your profits with most series 7 prop firms assuming you traded your own cash, which you would with FCM.The props that doesn't require series 7 are continuing to let you keep 100% of your profits ( the ones I am aware of).
Until the most recent Fin. Reg. you kept 100% of your profits with most series 7 prop firms assuming you traded your own cash, which you would with FCM.The props that doesn't require series 7 are continuing to let you keep 100% of your profits ( the ones I am aware of).
I found this thread quite inciteful on Trading arcades vs Trading with a FCM. With regards to leverage I don't see any edge with a trading arcade. The systems might be slightly better but for an outright trader shouldn't really make much difference. Personally my focus would be on commissions and I dont't see arcades as being very competitive in this sphere.
http://www.trade2win.com/boards/trading-arcades/91496-trading-arcades-have-had-their-day.html
http://www.trade2win.com/boards/trading-arcades/91496-trading-arcades-have-had-their-day.html
"I found this thread quite inciteful on Trading arcades vs Trading with a FCM. With regards to leverage I don't see any edge with a trading arcade. The systems might be slightly better but for an outright trader shouldn't really make much difference. Personally my focus would be on commissions and I dont't see arcades as being very competitive in this sphere." - jbuckle7
There are no $2500 desk fees in US, unless perhaps you have a desk direclty at CBOT or at another exchange. Rates are negotiable at every prop firm I know of, it all depends how much you trade; I am sure for a trader with a healthy volume props are much cheaper. Two best platforms in trading are Anvil & Redi and neither of those are available at FCMs. I am not aware of any prop firm offering only 4:1, most offer at least 10:1 and some way, way more than that.
This doesn't mean everyone should trade with a prop if, FCMs are working for you stick with it.
There are no $2500 desk fees in US, unless perhaps you have a desk direclty at CBOT or at another exchange. Rates are negotiable at every prop firm I know of, it all depends how much you trade; I am sure for a trader with a healthy volume props are much cheaper. Two best platforms in trading are Anvil & Redi and neither of those are available at FCMs. I am not aware of any prop firm offering only 4:1, most offer at least 10:1 and some way, way more than that.
This doesn't mean everyone should trade with a prop if, FCMs are working for you stick with it.