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The Best Prop Firms top 10
- Thread starter Trademanstan
- Start date
Quote from hitnrun:
Hey Scalper Joe
You missed a few licensed pro firms , good list to start
hold brothers has some issues to resolve , extra caution with them
Ya, the op asked if there were "10 firms left", I listed 9 firms, probably missed a few, although there are other sub-LLC firms that are just a part of the above firms.
One must review FINRA.org broker check and SEC filings before joining a firm to see their financials and if there are any issues.
This is simply part of the due diligence process, and doesn't take that long. It's a MUST for newbie traders or even experienced traders looking to either switch firms or join a firm.
Quote from marketsurfer:
WTS in Boston is a stand up firm. If interested I'll Pm you the contact data. They have an amazing prop system. surf
We post our office results on the P/L page often. Today was a good day. We dont make $100,000 days, but we have only been down 5 time sin the last 4 months as an office, we work on consistency, not flashy days.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3642765#post3642765
earlybird - are y'all related to capital traders group?
I trade thru JC Trading. 95% payout
Quote from ScalperJoe:
There are several equity props left, however the industry is shrinking and only the well-capitalized will survive, and/or the firms that expand their models, just as Evo mentioned.
New rules/regulations/license requirements etc have inreased the barrier to entry, both from the trader and the firm's perspectives.
Some of the registered props which are broker-dealers where you require a license to trade and are still around are as follows (you can do a search on these boards).
In no particular order:
Avatar Securities
Chimera Securities
WTS (World Trade Securities)
T3 Trading
Quasar Trading
Hold Brothers
Coastal Trade
Bright Trading
Echotrade
Unregistered firms are to be avoided. You can read up on firms that closed shop without returning capital to their traders, and traders then had to file complaints in an effort to get back their funds. Trust me on this, it's definitely a hassle you want to avoid!
There are also offshore firms that cater to non-U.S. citizens, or for US citizens that are willing and able to set up a foreign entity to trade the U.S. markets (obviously not feasible for a newbie trader).
As always, conduct your own proper due diligence before you agree to terms and sign a contract.
Also, once you make a capital contribution, it's "locked up" as per SEC rules for one year, so go with the firm that you feel you can trust and has a track record of paying their traders.
Regarding the amount of capital and training, it's best to contact the firms directly to find out what services they offer, and then negotiate the best terms.
Hope that helps.
Agreed avoid unregistered firms...
Quote from Trademanstan:
I mean shit.. How will someone be able to start his or her own fund without some kind of track record
thats the thing im trying to figure out.. where the heck is this industry going, if nobody can prove a track record to start a measley fund, how can you be an entrepreneur in this business?
I blame George Bush, before him it was nice..
but i digress
Yeah, it's Bush's fault. Fine. But now I have a question for you.
Once you open this highly leveraged prop trading account and put together a "track record", why would you want to subject your highly talented career to the legal, accounting, customer service, advertizing, and compliance nightmares which you would most certainly experience?
In other words, why would you want to start a fund once you know how to trade prop? They are two different worlds.
Or are those issues Bush's fault also?