What´s wrong with WTS?

Quote from mastertrader456:

Completely agree. Spot on. A new trader will have a better chance of success at s true prop firm that has a training program, pairs you with a senior trader, and offers firm capital. These firms are very selective and offer 60/40 pay splits. They have high overhead and pass those costs on to traders. This is how my career began.

Once you learn the ropes and have capital, you move to a prop firm like WTS or Echo. Where the emphasis is on low trading costs, leverage, access to top trading platforms. Keeping overhead costs at their lowest.
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I can't ever recall a time when there were 60/40 splits. Are you just that awesome? The best I've seen were 80/20 with a minor draw.
 
Quote from ronin266:

Completly agree with previous posts. Just was wondering why is there such a negativevibe around WTS here.

Or it´s just that Bright, Echo and the rest are doing a better job cleaning the trolls from the forum? :)
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I've not seen much negative vibe about wts here. Bright runs a clean business as well. The negative vibes you may be reading about are the un registered firms IMO.
 
Quote from clearinghouse:


I can't ever recall a time when there were 60/40 splits. Are you just that awesome? The best I've seen were 80/20 with a minor draw.
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I started with 25/75 LOL.

2Leap, search ET for WTS, you´ll find that vibe.
 
Quote from mastertrader456:

There are no hidden fees .You have risk management fees, compliance fees, Finra fees, etc.
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There may not be any hidden fees, but just because they tell you up front does not make it legit....The above fees are bogus...
 
Quote from operator:

There may not be any hidden fees, but just because they tell you up front does not make it legit....The above fees are bogus...
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Maybe they can scalp somewhere around there, but it would be hard not to notice it, the fees are public, so anyone can check them.. hmm and make an spreadsheet that calculates them for your trades so you can check if everything is ok.

Btw anyone have a list them all?
 
Quote from operator:

There may not be any hidden fees, but just because they tell you up front does not make it legit....The above fees are bogus...
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Most firms charge fees like that. If I showed you my GS statement and the amount of fees that come for regulatory BS, you could possibly shit yourself and decide prop is a great deal.

I've been trading with WTS but I've traded with the other big names before. I've never had one issue with an erroneous fee or the like. Most people who have dealt with them will inform you similarly. They are the biggest prop firm in the industry so for that reason they take a lot of heat. The same reason GS takes the heat in investment banking.

Their legal structure is standard and they do provide the proper tax forms (k1 form 1065). PM me if you more more particular info because soon enough people are going to start accusing anyone speaking positive of WTS as being a shill.
 
Quote from mastertrader456:


There are no hidden fees or other BS like people are trying to say. Prop is different than retail brokers. You have risk management fees, compliance fees, Finra fees, etc. Every where you go has these fees. Some wrap them up into a 'desk fee' or like WTS lists them individually.

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What's a FINRA fee?
 
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