SMB Capital $5k Training?

[cactus_trader]

do they list there CRD number? so it appears they are set up in the SUB-LLC porp shop not an SEC broker/dealer? Please correct me if Im wrong

 

[atlTrader666]

Quote from cactus_trader:

do they list there CRD number? so it appears they are set up in the SUB-LLC porp shop not an SEC broker/dealer? Please correct me if Im wrong

Few props register as broker-dealers nowadays because that would require their traders to obtain Series 7s.

There's no need to have the SEC creeping in your business with the broker-dealer model.

 

[cactus_trader]

Quote from atlTrader666:

Few props register as broker-dealers nowadays because that would require their traders to obtain Series 7s.

There's no need to have the SEC creeping in your business with the broker-dealer model.

well....


actually several prop firms are under the CBOE/CBSX and they do not require traders to take the S7, just a clean u4/fingerprint card.

 

[athlonmank8]

Remote trading is the best imo. Got a great deal at a diff place.

I never understood the advantage of trading from a prop? Anyone care to enlighten me.

Sorry to bring this back from the dead

 

[mark2mark]

Quote from athlonmank8:


I never understood the advantage of trading from a prop? Anyone care to enlighten me.

most prop firms allow remote trading,

-leverage
-cheap commissions
-top platforms (laser is great for API)
-trade with other traders

 

[Anaconda]

Quote from athlonmank8:

Remote trading is the best imo. Got a great deal at a diff place.

I never understood the advantage of trading from a prop? Anyone care to enlighten me.

The deal would be the generally same offsite (remote) or on-site. Sometimes remote has an extra charge for connectivity.

In general, the reason you would want to trade on-site is for the environment of being with other traders. The right group of traders can make a big difference in your P&L and your learning process.