US Capital - are you kidding me?
- Thread starter SwingOutOn5
- Start date
i think the volume is for Genesis - the deal between them is that genesis gets the acct and US capital gets the fees
am I right in assuming one would have to switch to trade w/ genesis?
am I right in assuming one would have to switch to trade w/ genesis?
Quote from peilthetraveler:
I read the website...joint accounts...only available to retail traders...required trading volume of 110k(whats that about?) 9% interest... Doesnt sound worth it and I smell a possible scam....pretty easy to empty someones account when its a joint account and nothing you could do to legally get it back. Of course im sure they make you sign a ton of stuff to make sure you dont beat them to the punch.
Also the 110k volume?..chances are, you are not pulling that kind of volume unless you already have 25k or are just massively scalping LU.
keep posting. you are on to something,
i don't think people on this thread understand clearly the implications . and whether it is worthwhile.
"12-26-05 08:42 PM
http://avidustrading.com
they offer 1:10 when I talked to them a while ago. No sure about the minimum deposit."
(copied from another thread)(http://www.elitetrader.com/vb/showthread.php?s=&threadid=61116&perpage=6&pagenumber=2)
Edit/
address look familiar
http://avidustrading.com
they offer 1:10 when I talked to them a while ago. No sure about the minimum deposit."
(copied from another thread)(http://www.elitetrader.com/vb/showthread.php?s=&threadid=61116&perpage=6&pagenumber=2)
Edit/
address look familiar
Dear traders,
My name is Adam Temkin. I am a manager of US Trading Capital, LLC. I can see from the discussion on this board that everybody has different ideas about what we are trying to accomplish. Thatâs why I would like to clarify a few points to make it clear what we are offering. Currently we are just starting our advertising on ET to test the market and see the level of interest from this board.
First of all we are a financial company not a BD. We feel that there are a lot of retail traders who trade for a living and would welcome additional buying power in order to improve their ability to trade more effectively.
As most of you know, in the proprietary environment, you can start trading with much less capital and get much more buying power than in the retail environment. But on the downside, your capital is not protected, they push you to trade much more then 5,000 shares a day, and you have to split the profit with the firm. So we are pretty sure that a lot of traders would prefer to trade a retail account giving that they have enough buying power, their account is protected, they do not have to split the profit, and there is no licensing requirements.
To minimize risk to our capital, the only way to give the trader additional buying power is through the Joint account, which we have structured the agreement between us and the traders where itâs clearly stated that the tradersâ capital belongs to the trader and we do not have any access to that capital. On the same note the trader does not have access to our capital. We are in business to provide a legitimate service for traders who would need it. When the JC is open the trader will be the primary account holder. At this moment we have Genesis as our independent brokerage firm but we might use other brokerage companies in the future. We understand that some people are cautious about we are offering because it is somewhat new but we can assure you that we will make our best effort to answer and address all of your concerns. For additional inquiries and/or questions please visit our site and fill out a request form.
Sincerely,
Adam Temkin
My name is Adam Temkin. I am a manager of US Trading Capital, LLC. I can see from the discussion on this board that everybody has different ideas about what we are trying to accomplish. Thatâs why I would like to clarify a few points to make it clear what we are offering. Currently we are just starting our advertising on ET to test the market and see the level of interest from this board.
First of all we are a financial company not a BD. We feel that there are a lot of retail traders who trade for a living and would welcome additional buying power in order to improve their ability to trade more effectively.
As most of you know, in the proprietary environment, you can start trading with much less capital and get much more buying power than in the retail environment. But on the downside, your capital is not protected, they push you to trade much more then 5,000 shares a day, and you have to split the profit with the firm. So we are pretty sure that a lot of traders would prefer to trade a retail account giving that they have enough buying power, their account is protected, they do not have to split the profit, and there is no licensing requirements.
To minimize risk to our capital, the only way to give the trader additional buying power is through the Joint account, which we have structured the agreement between us and the traders where itâs clearly stated that the tradersâ capital belongs to the trader and we do not have any access to that capital. On the same note the trader does not have access to our capital. We are in business to provide a legitimate service for traders who would need it. When the JC is open the trader will be the primary account holder. At this moment we have Genesis as our independent brokerage firm but we might use other brokerage companies in the future. We understand that some people are cautious about we are offering because it is somewhat new but we can assure you that we will make our best effort to answer and address all of your concerns. For additional inquiries and/or questions please visit our site and fill out a request form.
Sincerely,
Adam Temkin
You don't?
ic.. you are pushing for only about 5,000 shares a day.. not much more than that.
And what's the cost?
Plan A - 0.01 x 110,000 = $1,100
And I hope 110,000 is TOTAL, not one way. In that case, it $2,200
Software fee - $200 for something that no trader needs. The trader already have something setup to trade, right?
I think it can safely be said that USTrading's pot is significantly sweeter than $150 a month, depending on Genesis's split with USTrading. I have no problem with fees, but maybe being upfront about it won't be bad. We are all in it for the money - so it's cool.
Actually, I wish someone does this for remote futures traders. If I had
a) No minimum monthly trade quota (or something much more reasonable)
b) I don't need no stinking "software package"
c) Can trade futures (I don't do stocks)
then sign me in
a no risk 9 per cent return + a cut from genesis on commissions is too much of a return on capital. your rate of return on capital should be about 2 per cent above the t bill rate. ibet you are looking at a riskfree rate of return before expenses of advertising and staff in excess of 20 per cent/yr.
obviously the keyword is RISKFREE.
obviously the keyword is RISKFREE.
Thanks to everybody for expressing your opinion on this thread. We still convinced that a lot of retail traders who do need additional BP will find that their can receive additional funding from us in most convenient and inexpensive way available. Please take a moment and look through our website if you have any additional questions.
Adam Temkin
Adam Temkin