Summit Trading LLC

[MZG]

I am a silent follower of this forum, but any body heard of Summit Trading LLC.

They advertise that they require no experience and NO cash. They want a 6 months commitment and take little commission. Any body heard of them?

 

[ddlee]

use the search feature and read the archives, same story different names

 

[MZG]

Did they use a different name before? what was that?

 

[jmoo]

Are you implying they are a "training fee" place??

 

[MZG]

They are training free not fee. They ask for no money down and NO experience

 

[jmoo]

Do they have a website?? Seems like the offer is too good.

 

[MZG]

Their trading is with $300,000 for each trader ( they give the capital) and minimum 10,000 shares in USA equities only. Yes minimum is 10,000 shares. However, the maximum is 300 shares per position. The lose minimum should be 2000$. No overnight positions.

Split is 50/50 with 3 cents commission on 100 shares and no desk or connection or any kind of fees.

Is that a good deal?

 

[esc_trader]

How much do you have to put up?

 

[MZG]

They do not ask for capital. I just posted a thread about my interview with them. I just wonder WHAT IS IT IN IT FOR THEM? WHY they risk money with training unexperienced traders?