Anybody know of any legitimate trading shops in South FL who partner up with experienced traders?
South FL prop shops
- Thread starter Energy Raider
- Start date
If by "experienced trader," you are referring to someone with a good chunk of their own capital that prefers to keep 100% of their profits, then I believe Bright has an office with at least a few traders in South Florida somewhere.
If you are looking for a more traditional prop where you give up 20+% of your profit in exchange for super low commissions, very little, if any, personal capital risk, etc., then I don't know but this is a good link to start your search
http://tradersnarrative.com/list-of-proprietary-trading-firms-735.html
Thanks Podimer. I'm looking for a more traditional prop shop. Capital contributions aren't something I'm opposed to, however I don't need to get involved with anyone where I take on all the risk and give up part of the profit. I already trade on my own I'm just looking to take it to the next level.
If you are already consistently profitable, then IMO, it is best to go with one of the firms that give you 100% of your profits, though they may take a bit more in commissions. Of course, this depends on your trading style, like if you are scalping for pennies, a million shares per day, these firms may be cost prohibitive due to their higher commissions, though I am sure such volume would give you good commish negotiating power at all of them.
Regarding these types of firms, I have heard good things about Echo, Bright, and maybe a couple of others like JC and Assent.
Not sure if they are all broker-dealers but I believe most of these are thus require the series 7. If you want to trade in an office environment as opposed to remote, then Bright is the only one I know of that has (or at least DID have) an office somewhere in the Miami area. The others may have, as well, I just haven't checked.
Regarding the more traditional prop firms, I have heard good things about Avatar and some Chicago based firms though I have never looked into it myself.
I've looked at Traders Narrative before, I'm currently speaking with some groups listed on the website. I trade futures so so I need a firm that offers that coverage. I do have a successful track record, I was wondering if there were more firms in my own back yard that I could approach.
Ohhhhhhhh...ok then, I think there are quite a few offices in South Florida as I have a buddy that used to trade futures in Palm Beach at an affiliate/subsidiary of Iowa Grain (based in Chicago). Beyond that, I am sure you have seen this one, but just in case you haven't, it might help
www.futures-brokers-directory.com
Either way, best of luck with your hunt.
I'll definitely look into that. Thank you kindly Podimer.