US Trading Capital

[FaderTrader]

Quote from USTrading:

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. That’s 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 it’s clearly stated that the traders’ 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

I'm still unclear as to the COMPLETE cost structure. So, just answer this very basic inquiry...

I'm a trader and I want to leave my currect firm and to go out on my own. It's very important to me that I'm able to continue to use Hammer/Anvil as my trading platform as I believe it's the closest thing to an ATM machine out there today.

How can US Trading Capital help me?

a. I use you to leverage myself and I pay a whopping .01/share with a min of 600k/month.

b. I then go to a broker to provide me with my platform and pay them a commission?

Am I seeing this clearly? If you are forcing traders to use just one platform, then what makes you any different from any other arcade out there (where I can get way more than 10x BP)? And more importantly, what makes you think .01/share is even close to being competitive?

 

[USTrading]

Hi
In order to use our capital you have to open a Joint account (where you will be a primary account holder). You have to put at least 20K or more on the Joint account and we will match it with our capital. The commission structure depends on your average monthly volume. What we are offering is the only structure where a retail trader can get additional buying power.
Thanks
Adam

 

[lescor]

Not true Adam.

I opened an account with a retail LLC last year. I put up $15,000. The account is in my name. 100% of the profits are mine. I have millions of dollars in intra day buying power. I trade anything I want, any style I want, no volume requirements. I pay no software fees. Commission under 1/2 cent per share. No licensing requirements.

I still say the only way you guys can stay in business is by hoping the public stays ignorant.

 

[nassau]

Quote from FaderTrader:

I'd like to know what everyone thinks about this US Trading Capital Corp. www.ustradingcapital.com

I work for a firm that puts up all the money. But, my split is only 75%, plus I pay all fees (.008/share). This was fine when I was fresh out of college and broke, but it's grown old.

My tier size ranges from 1500-3000 shares. US Capital requires a min of 20k to open, with BP x8. I figure a deposit 45k would put me at where I am now in terms of BP.

Has anyone had an experience with them? Also, any feedback in terms of BP, leverage etc, would be helpful since those decisions have always been made by the firm that employs me. So, I'm not really sure what the rules/standards are.

Thanks in advance!

If you are now a successful trader the main thing you should be concerning yourself with is the security of your principal.
If you have been trained by a firm that has put time and money into you and gives you 75percent of profits I don't see really your point. This firm deserves earning from you as 25percent is just a cost of doing business and in my opinion very fair.
I receive from my traders 50/50 split, a daily seat fee for their station, they pay for their losses in most cases as it is my corporations funds.
They receive a 4to1 leverage daily,2to1 overnight if I allow it.
I also dictate the stocks they will trade initially.

Do the math, you may find as others have that the few extra dollars with controlled expenses in reality a good deal. I assume that the reason your round trip cost are high is as your company is not a BD.
I personally find that traders stay about 1-2 years before they go or attempt to set up their own business with several coming back to a team or support atmosphere but to each his/her own.

w

 

[nassau]

Quote from lescor:

Not true Adam.

I opened an account with a retail LLC last year. I put up $15,000. The account is in my name. 100% of the profits are mine. I have millions of dollars in intra day buying power. I trade anything I want, any style I want, no volume requirements. I pay no software fees. Commission under 1/2 cent per share. No licensing requirements.

I still say the only way you guys can stay in business is by hoping the public stays ignorant.

Ignorant really isn't fair, life is blocks of time for blocks of money.
If I train someone, give them free support, pay initial expenses then I like to look at it as if it were a tution fee..rebait..
I charge nothing and only make money from my traders if they make money, the small amount of money received back from exchanges is exactly that. I assume you are one of many trades trading a pooled account of the company. I know of several firms doing the same..
any hope of you passing on the LLC, is it a USA firm with head quarters in the USA.
Most that I know of require a min of business monthly and restrict some type of trading as it is very hard to be successful at currency, stocks, options, futures at the same time.
I have traders that do one or the other under my auspices not free hand
Howlong have you been trading? How long did you have to trade with this firm before you received this almost unlimited bp as you state you have been their just a under / year..

w

 

[zdreg]

a 50/50 deal on the surface sounds noncompetive. are they charged commissions? are they series 7?
it doesn't sound right.

"I charge nothing and only make money from my traders if they make money, the small amount of money received back from exchanges is exactly that."

who receives/pays ecn fees.
are commission charges zero.

 

[nassau]

Quote from zdreg:

a 50/50 deal on the surface sounds noncompetive. are they charged commissions? are they series 7?
it doesn't sound right.

Let say a trader is trading nvda they buy or short the stock ie they buy at 10.00 sell 10.50 gross..there will be a cost of doing busines - a few cents round trip with the possibility of the cost being reduced on volume but really nothing to speak about.
the trade gross 500dollars on one thousand shares, the trader will receive approx 250. If they are trading remote their costs are less as they are providing their own station.
I do not require them to be a series 7 but several do have.
I have latitude not being a resident or citizen of the USA.

w

 

[hairdresser]

Quote from USTrading:

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. That’s 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 it’s clearly stated that the traders’ 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

Sounds like every "prop" firm out there. What distinguishes you from Bright, Generic, Echo and lastly Genesis. Thanks.

 

[zdreg]

Quote from hairdresser:

Sounds like every "prop" firm out there. What distinguishes you from Bright, Generic, Echo and lastly Genesis. Thanks.

generic etc. can blow up and you lose what you have at the firm.
generic etc. don't charge you for use of capital.
these guys can take and they will deny this your money and lots of luck trying to recover.

you don't need a series 7. they are not a prop shop but a retail customer
you should have been able to get this information by going to their site and previous postings.

 

[lescor]

Nassau,

I agree with you on the point of receiving a cut of a traders p/l and expenses in exchange for mentoring. That's a common and very fair arrangement, after all you are giving them a career.

I don't believe the deal discussed in this thread included that though.

It's true I have a good deal because I have experience, a track record and know the principals of the firm I'm with. However deals like mine aren't uncommon. My post was in response to the comment that the firm discussed in this thread is the only option for someone wanting more than 4:1 buying power.