The Prop Trading Industry EXPOSED

artis74 · Oct 5, 2006

If a man call you as ass you hit him in the nose.

When he calls you an ass again you call him a jerk.

If he calls you an ass again it is time to go get a saddle and a bit since you are probably an ass.

Since you wont name names it is time to go get your saddle and bit Mr. bonds, I dont buy his 3/3 claim in such a short period.

zdreg · Oct 5, 2006

my example of marrying three women and being duped by each one is probably an accurate analogy. that being said it means that Mr. Bond is capable of making money but has difficulty of holding onto it because he is attracted to the wrong....

zdreg · Oct 5, 2006

Quote from MiamiHurricanes:

bonds, do absolutely what you think is in your best interest. It is your situation and your capital at risk of not be paid to you as dictated by your business agreements.

I would not name the names of the firms. It is bad enough, I would not be surprised if certain organizations try to pre-text the @#%# out of ET.

the amount of paranoia and overblown sense of importance by some posters seems to know no bounds, these fly by night outfits in question could not care one bit about these postings. unlike HP a sordid action like pretexting would probably result in a heavy fine or being banned from the business.

bonds · Oct 5, 2006

Maybe you guys should get it through your thick skulls im not naming names... i dont understand this obsession you ppl have with what firms they are.

I am not looking for help or advice getting my money back, nor flaming any of the firms. Just want any one joining a new firm to do extreme due dilligence before joining a prop firm, if i had done so i probably wouldnt have been screwed over.

As to these firms not even noticing or caring what goes in on these msg boards.... PLEASE... they troll these boards in hopes of recruiting fresh meat... sickening.

And no its not swift, i actually started there and although they were a bit bitter when i left i ddint have any probs with them...

Buddha_E · Oct 5, 2006

I have been trading with over 15 years experience in Asia (Singapore) and it is starting to become popular now. I wish Mr. Bond would be kind enough to tell us what pitfalls we should be careful about and to look out for. I doesn't want my freinds to get misled.

walk the plank · Oct 6, 2006

Quote from artis74:

If a man call you as ass you hit him in the nose.

When he calls you an ass again you call him a jerk.

If he calls you an ass again it is time to go get a saddle and a bit since you are probably an ass.

Since you wont name names it is time to go get your saddle and bit Mr. bonds, I dont buy his 3/3 claim in such a short period.

Wow, dude you are a retard, making fun of a guy that ran into some realy bad luck and got screwed over and over by 3 diff companies. When its so easy to set up an LLC. , sadely the crooks in this industy, and sometimes just dumbass that didnt do their caculations correctly get their LLC. and take peoples money who are just looking for a good trading payout deal.

And all he is doing is letting people know there are thieves in this industry, and dont just trust a company because they have a nice website and can offer you the payout and software u want.

You probably pay 10 dollars a trade and are happy getting screwed by the company your with, and have never tried finding a new deal. I hope you switch companies some time, and find out how easy it is for companies to lie and feed you excuses when you want your money.

zdreg · Oct 6, 2006

a prop shop is not merely an llc. it is regulated by the sec and the nasd / nyse etc.
hedge funds which are usually not regulated by anybody are also usually llc.s
furthermore there are hedge funds which
are structured in ways to be almost the same as regulated prop shops.

bonds · Oct 6, 2006

Quote from Buddha_E:

I have been trading with over 15 years experience in Asia (Singapore) and it is starting to become popular now. I wish Mr. Bond would be kind enough to tell us what pitfalls we should be careful about and to look out for. I doesn't want my freinds to get misled.

plese see mr. brights post

bonds · Oct 6, 2006

Quote from zdreg:

a prop shop is not merely an llc. it is regulated by the sec and the nasd / nyse etc.

most prop shops arent regulated by the sec and nasd and even so its not a guarantee they wont try to rip you off... u just have a better chance of getting your money back.

Don Bright · Oct 6, 2006

Quote from bonds:

most prop shops arent regulated by the sec and nasd and even so its not a guarantee they wont try to rip you off... u just have a better chance of getting your money back.

(Trying to keep posts to a minimum on this thread, but...."whoda thought I would get back in, LOL).

I have been putting together a pretty long list of "Trading Firms of Concern" - I, of course cannot post it here for liability reasons, but I have shared it with regulators. (If anyone would like to add to the list, please PM me and I'll check into it). I have pushed them to get involved with the type of firms that actually seem to "brag" on the websites about Not a member of NASD, no SIPC, not an exchange member, no licensing, etc. etc. ...so, my question to the regulators was "Who in the heck are the traders going to complain to when they get ripped off?" That seemed to start a (minor) flurry of activity from State Attorney's General (I'm told). I know of at least one SRO who is diving into all of this.

These firms are a black mark on the entire securities industry, and why should all the good, legal firms, who have to comply with a zillion regulations, file timely financial statements and FOCUS reports, be hassled at all, when these guys are still in business?

Don