Question to WTS traders.

Tells, the 2 guys here flamed every firm in that business that has been mentioned on ET. I guess they (he) have/has an axe to grind for some reason. So I wouldn't take the facts they came up with not too serious. Personally I only heard good opinions about WTS.
 
Quote from saico:

Tells, the 2 guys here flamed every firm in that business that has been mentioned on ET. I guess they (he) have/has an axe to grind for some reason. So I wouldn't take the facts they came up with not too serious. Personally I only heard good opinions about WTS.
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Thanks. That does alleviate some of the concern I had.

can u trade futures at WTS?
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Sorry. I wouldn't know that - I tried to ask every question I could think of when I was there.
 
Quote from tells:

WTS has a new office in manhattan (11 broadway) and I had talked to one of the guys there about joining their firm as a new trader. I have very little experience in this but I've heard similar deals for prop firms. From what I was told so far, it seems like a pretty fair deal.

So as a newbie, here's what the deal is:
3 weeks of training - (reserve your opinions about this as this is the most subjective per trader)
No initial deposit required
Sterling software - $200/month in fees
50/50 payout every month on net gain
$0.2/100 shares (i think this is right)
$200 daily stop-loss
$100k capital
no overnight trading

Here are some other things I was told:
There's also one mentor on the floor at all times (available for the newbs)
if I wanted to increase my share of profits to 90/10, I would have to put down $10k. $25k for 95/5 (i think - I wasn't too concerned with that yet)
They plan on going live this coming Monday (computers still seemed like they were getting installed the past Wednesday)

The person I spoke with seemed like a reasonable guy who didn't seem like he was selling me anything. Naturally, he wanted people to join to get the place up and running.

My question is.. if all the negative things I'm hearing is true about WTS, where would they be able to take advantage of me in this deal they were offering? The only risk I see is that I may be making little or no money in the next few months.

From what I see, their risk is not so great either.. considering there are approx 20 trading days in a month, the max loss they could take in a month is $4k.
I'm not sure if losses for the month are rolled over to the next (most likely, right?) but risk management would definitely cut you off if you were terrible.

Let me know what you guys think (please hold the a-hole-ish comments).

I'm relatively new to this so bear with me if I don't see some things that are pretty clear or commonplace to you.
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I guess this is for inhouse traders, not for those, that trade remote, rigth?
 
Quote from saico:

I guess this is for inhouse traders, not for those, that trade remote, rigth?
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That's another thing I wouldn't know. I literally spat out everything I was told during that meeting in my OP.
 
Quote from Szeven:

I looked at Finra broker check out of curiosity, not sure how up to date that site is, but theres no b/d that contains WTS, and only 1 that contains world trade, which is based in nevada formed in 1996...

If anyone knows the real name please post it.
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CBOE/CBX membership will not show up on FINRA broker check.

Do a search for Bright Trading to see. We all know they are a b/d.
 
Hello,

Just wanted to post a correction rate is much more advantageous
than the .20/100 posted - for traders in trading program its
.20/1000 with a 50/50 split.
From what i understood WTS is interested in advertising on
elitetrader.
 
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