Remote Prop frim referal

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easye1332

Hello,

I have been trading for 5 years on the NYSE. I am looking to day trade as a primary source of income. I am unable to due to having less than $25K in my portfolio. What are the best remote prop firms that will help me get around the T-3 rule?
 
I am looking for a prop firm which allow traders to trade futures. I wanted to join Bright Trading but like most firms they only allow equity or ETF trading.
 
This is all you need to know. Good luck!
 
Thanks for a great list. I too am looking for a Prop Firm whereby I don't have to train (been paper day trading for almost a year - and learned from a guy who has done VERY well!). I want to find a firm that allows me to trade only 2 - 3 stocks (at most) but have grown to know them very well.
I don't have 25K to do it (for now) but if they will give me a chance, I will make them (and myself) money. I am willing to split my earnings equitably (open to discussion), but am needing to get started soon.

I appreciate any and all help / info.
OG
 
Hi Old Guard, I have that prop. firms can be divided into 2 categories.

Category1. Broker- Dealer prop firms like T3 capital, T3 live, Integra Capital ( whose broker delaer is T3) Avatar securities etc. NY alone has around 30 or so firms like these. They basically provide you 1 to 10 to 1 to30 leverage and you are allowed to knock yourself out as per your method. Majority of traders with little or no money get excited by the leverage and are out in matter of weeks to months.
These firms have nothing to loose. They charge you feees for data, platform plus get rebate from exchanges.

category 2. SMB capital, First NY securities ( one of the best). Peak 6 and many others do not take capital from traders. If a trader does not have proven trading record, you apply as a Trader Assistant/ Trainee and start trading after couple of months of training. You want this training regardless of what a trader think how good his/her method /system is.

These firms primarily take traders with strong math, stats back ground. Make sure you check out examples of test at www.glassdoor.com

For experinced traders with record- sky is the limit. They roll out RED CARPET. Ideally category 2 firms are the one one should strive to get in.

Good Luck
 
OldGuard said:
mfbreakout,
I really appreciate the info. I will check and see if I can get a mtg with a Category 2.
More...

I know that Bella and his team at SMB do a pretty good job at developing traders.

@mfbreakout I don't have much of an idea about First NY. How would you compare them to SMB? Pros and cons.
 
First NY Securities is in a totally different league. It's tough to explain. Check out their website . Bascially First NY is much more global firm trading across multiple products . They are competing for talent with GS, JPM etc.
 
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