The firm was losing money because the owners saddled it with debt as they siphoned most of their at risk money out leaving the traders holding the bag at the end.
Starting Daytrading Firm in India or China - advice?
- Thread starter CutsThrough
- Start date
The firm was losing money because the owners saddled it with debt as they siphoned most of their at risk money out leaving the traders holding the bag at the end.
Thanks for that. I got in touch with them today. They don't/won't consider allowing the white-labelling of thier platform/brand. I'm not sure that I'm entirely comfortable tying my fate to thier brand.
Additionally, when I shopped for a prop firm in NYC, I steered clear of what I believed to be syndicated chop shops. Perhaps they're in fact stronger than standalone firms, but I think the stigma might be a net negative.
Along the lines of your original suggestion - do you know of any other prop firms that offer turnkey type solutions similar to Swifttrade?
I think anyone who is going to trade the US stock market should be a citizen or permanent resident or authorized to work in the US. I don't think the SEC will let anyone trade the markets regardless where the traders are. I'd do a firm research on the basics of opening a day trading shop in India.
I never said it was the right answer, I said he is on the right track. Worldco is just an easy example that most will recognize.
They failed for a number of reasons, the topic has been beat to death. Why they failed is not what I was aiming at.
Hi cutthrought
Well i have to say something
Just because if u r not successful in trading that does not mean u will not be successful in prop firm
1 ) a trainer gives training to a boxer well if he is so good why doest he be a boxer him self
2 ) a teacher or a professor who is teach us Mba , well if they r so good why dont they go get 100K-80 K job them self
Some pll are good in giving advice or helping people but they cant do it them self
All i have to say that if u have the proper business model and are well planned where ever u open u will do good but that involve a lot of hard work
china
Not a bad place seem like booming especially in export
India
Lot of software engineer IT people
For a fact i know that there are prop firm in india as i have a friend who trade the indian market and also HK dax sg future
Whilei also know HLV capital and Swift also have a ofice in China
Well i have to say something
Just because if u r not successful in trading that does not mean u will not be successful in prop firm
1 ) a trainer gives training to a boxer well if he is so good why doest he be a boxer him self
2 ) a teacher or a professor who is teach us Mba , well if they r so good why dont they go get 100K-80 K job them self
Some pll are good in giving advice or helping people but they cant do it them self
All i have to say that if u have the proper business model and are well planned where ever u open u will do good but that involve a lot of hard work
china
Not a bad place seem like booming especially in export
India
Lot of software engineer IT people
For a fact i know that there are prop firm in india as i have a friend who trade the indian market and also HK dax sg future
Whilei also know HLV capital and Swift also have a ofice in China
from above.
"a teacher or a professor who is teach us Mba , well if they r so good why dont they go get 100K-80 K job them self"
your question deserves an answer.
1. they are already making 80K+ from the job
2. they also get consulting fees which may be a multiple of their salaries.
3. they use their students as free labor to help them on their outside work.
4. they are in an enviroment to seduce impressionable young women.
5. they are in the classroom a maximun of 16 hrs. of week, they work less than 40 weeks a year
teachers of finance are not good examples.
"a teacher or a professor who is teach us Mba , well if they r so good why dont they go get 100K-80 K job them self"
your question deserves an answer.
1. they are already making 80K+ from the job
2. they also get consulting fees which may be a multiple of their salaries.
3. they use their students as free labor to help them on their outside work.
4. they are in an enviroment to seduce impressionable young women.
5. they are in the classroom a maximun of 16 hrs. of week, they work less than 40 weeks a year
teachers of finance are not good examples.
Hehe, well anyone who has traded in a particular midtown office knows that running a prop firm has absolutely nothing to do with knowing how to trade. Apprently, sales skills are more important.
in that orderHere are just some calculations that Iâve been doing.
This is based on opening a Prop Firm in Mumbai utilizing the prop/hybrid structure and giving each trader power-of-attorney over the firm account.
Note that Indiaâs per capita income is $538 (or 24,703 Indian Rupees)
<b>Assumptions:</b>
-- 20 traders
-- $ 67.25 monthly draw (this is equal to 1/12th of 1.5 times Indiaâs per capita income of $538 per year)
-- No deposit would be required.
--Commission would be .015/share + ECNs + fees
-- Commission basis between prop firm and clearing firm would be .002/share
-- Trading volume is assumed to be 20,000 shares per trader per day in the worst case and 150,000 per trader per day in the best case.
<b>Worst Case</b>
Traders 15
Average shares per day 20,000
Total Shares 300,000
Shares per Month 6,000,000
Average Rate 0.013
Daily Gross 3,900
Montly Gross 78,000
Yearly Gross 936,000
<b>Best Case</b>
Traders 50
Average shares per day 150,000
Total Shares 7,500,000
Shares per Month 150,000,000
Average Rate 0.013
Daily Gross 97,500
Montly Gross 1,950,000
Yearly Gross 23,400,000
Obviously the biggest cost is office space in the central Mumbai business district, which Iâm having a tough time locating information on â feel free to post it, if possible.
This is based on opening a Prop Firm in Mumbai utilizing the prop/hybrid structure and giving each trader power-of-attorney over the firm account.
Note that Indiaâs per capita income is $538 (or 24,703 Indian Rupees)
<b>Assumptions:</b>
-- 20 traders
-- $ 67.25 monthly draw (this is equal to 1/12th of 1.5 times Indiaâs per capita income of $538 per year)
-- No deposit would be required.
--Commission would be .015/share + ECNs + fees
-- Commission basis between prop firm and clearing firm would be .002/share
-- Trading volume is assumed to be 20,000 shares per trader per day in the worst case and 150,000 per trader per day in the best case.
<b>Worst Case</b>
Traders 15
Average shares per day 20,000
Total Shares 300,000
Shares per Month 6,000,000
Average Rate 0.013
Daily Gross 3,900
Montly Gross 78,000
Yearly Gross 936,000
<b>Best Case</b>
Traders 50
Average shares per day 150,000
Total Shares 7,500,000
Shares per Month 150,000,000
Average Rate 0.013
Daily Gross 97,500
Montly Gross 1,950,000
Yearly Gross 23,400,000
Obviously the biggest cost is office space in the central Mumbai business district, which Iâm having a tough time locating information on â feel free to post it, if possible.