Retail Trading -- Las Vegas

Originally posted by MACD
Don, thanks for the response.

I have considered taking the "Stupid Test". I purchased all of the course materials and have studied them to the point where I believe I could pass the test.

The reasons I hesitate to obtain a Series 7 license are:

1. I value my financial privacy and you give up much of that with
the Series 7 disclosure requirements. I operate several other
business ventures which must be disclosed completely and
additionally every time you change your financials you are
required to report. (Buy or Sell business interests, etc.)

2. For tax reasons and again privacy I prefer to trade with a
corporate account or LLC. Most prop firms will not permit a
corporate account. Does Bright?

3. My commissions are low. I have been paying .075 per share,
including all fees.

4. My leverage is 5 to 1 minimum. The rules for risk
management are very fair and not oppressive.

5. The office and equipment are more than adequate with great
onsite services including 4 full time techs for a small office.
Services include a sqawk box, excellent news feeds -- very
current -- beating CNBC and others by at least 5 minutes. T3
feeds, as many 21 inch monitors as I require.

6. Direct access to all markets. All ECNs available. Good order
execution platform and adequate charts. (The software has
some flaws but is adequate -- not perfect.)

7. The office ambience is professional and well run. Management
is first rate and concerned about the traders which shows in
their attitudes and quick response to any problems.

I guess I am spoiled. This was a great place to trade. Then I move to the great city of Las Vegas for business reasons and I find this to be a great wasteland for trading firms. At least I can't find them. Even Bright is not listed in the phone book? Or if so, I could not find your phone listing. Every major retail brokerage cannot be found in Las Vegas -- at least I was not able to find them as of today. I can't even find a small one.

Don, if you know of any I would appreciate your letting me know on the forum or private message me please. I know of your firm and you and your brother are highly respected. Your firm is no doubt one of the best places to trade in the country, and certainly for prop traders the best in Las Vegas (may even be the only one in Las Vegas).

Thanks again for your kind response and well wishes.
More...

Sorry to be tardy in responding, but I would welcome you to come by and visit or call me on the phone. Our long history with so many traders may help in calming some of your concerns. We may very well open a "retail" wing of sorts in the near future so that we can bring on "trading entities" - even though, more often than not they are not beneficial to the trader.

In any event, I would be happy to discuss your venture, and if we can be of help great...if not, my help is free anyway!! Give me a call. Refer to your ET handle when calling.

Don
 
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