Please call me next week, thanks. 702.739.1393.
Don
What´s wrong with WTS?
- Thread starter ronin266
- Start date
Please call me next week, thanks. 702.739.1393.
Don
Agree. I know a guy that has been trading with them for 2 years and another guy that left because he was not able to make i work in trading.
Bottom line like you said above, easier to blame others then yourself.
I was checking SGTSLOTTER post!
I want to know any one else have a proof regarding any of his accusations.
Lets Get the FACTS
I want to know any one else have a proof regarding any of his accusations.
Lets Get the FACTS
WTS is not a broker dealer or at least they were not when they had their SF open house in 2007 i.e. they will have to post your license with Hold Brothers or with some other entity they are aligned with.
At that time they charged for training and a buddy of mine signed up with them then decided against it and had no difficulty getting his money back. He left because SF office was all rookies, he wanted to benefit from being around experienced traders, SF office closed a few months there after. WTS flipped the office to Altrion which went out of business during the credit crisis ( SF office).
i trade with wts for .0003 a share keep all rebates and at the end of the month split the take with firm 70/30 i keep the 70! fusion dma is a solid and stable platform and the service team is always available. i would be willing to wager that most of these negative comments are from people who blew out their accounts and are trying to shift the blame. also maybe from competing firms looking to hurt the competition in the only way they can because i have yet to find a better prop-firm to trade with. great training, software, executions, rates, routes and leverage!
Hi oddeolab:
I am glad that you believe WTS is a good firm to trade with.I am not saying that they are not a good firm but I would like to know the facts to some of the accusations brought here by other Elite trader readers. See below and let me know what you think, but please be honest and dont try to be a shill.
Quote from SgtSlottter:
To the OP - here's the list of POSSIBLE issues - for you to check out yourself and ponder.
1) There is no financial statement online on SEC.gov for 12-31-2012. Might not be their fault, but all the other firms are up, so you should ask them for a copy.
2) According to their past statements combined with filings on the SEC site, if you do a little math, their traders make almost no money, which questions their longevity and training, support, etc.
3) They merged with Dimension, which had a terrible rep of exploiting newbies who didn't do due diligence and signed up, had a subgroup in queens who disappeared to China with 2 million dollars (some was dimension traders, others were randoms from their community). Also, dimension on numerous occasions was accused of front running their prop traders. I believe they were even sued in arbitration over this (not sure on the lawsuit).
4) Fusion, the software WTS bought in the dimension deal, is consistently one of the least reliable software platform's in the industry, probably because it is just a renamed Blackwood Pro, which was built in 1999 or 2000.
5) they subscribe big time to the sub-group model, which leads to questions you should get answered about someone else or a different group blowing up and how it effects you.
6) regulatory fees may be bs. If they're up front with them, fine, but you can call it cheap rate than nickel and dime people and it doesn't turn up as cheap. just make sure it is all in wiriting.
7) you mentioned 'internalization' - there is a lot of speculation they just cross their internal orders. This is not good, since there is a delay. when stocks are moving, the last thing you want are fancy routes, you just want to be able to get the stock on the box.
8) one other rumor is that they spread any strategy from their US traders if they land a decent fish to traders in their much bigger overseas arm. the risk is you walk out of there without the edge you walked in with.
9) no one has ever answered the question about their Class A member capital versus Class B capital. Meaning, if a trader blows up, do the owners have any cushion in there before your money gets blown up proportionally. This would be a question to ask in writing to WTS or any other firm.
I am glad that you believe WTS is a good firm to trade with.I am not saying that they are not a good firm but I would like to know the facts to some of the accusations brought here by other Elite trader readers. See below and let me know what you think, but please be honest and dont try to be a shill.
Quote from SgtSlottter:
To the OP - here's the list of POSSIBLE issues - for you to check out yourself and ponder.
1) There is no financial statement online on SEC.gov for 12-31-2012. Might not be their fault, but all the other firms are up, so you should ask them for a copy.
2) According to their past statements combined with filings on the SEC site, if you do a little math, their traders make almost no money, which questions their longevity and training, support, etc.
3) They merged with Dimension, which had a terrible rep of exploiting newbies who didn't do due diligence and signed up, had a subgroup in queens who disappeared to China with 2 million dollars (some was dimension traders, others were randoms from their community). Also, dimension on numerous occasions was accused of front running their prop traders. I believe they were even sued in arbitration over this (not sure on the lawsuit).
4) Fusion, the software WTS bought in the dimension deal, is consistently one of the least reliable software platform's in the industry, probably because it is just a renamed Blackwood Pro, which was built in 1999 or 2000.
5) they subscribe big time to the sub-group model, which leads to questions you should get answered about someone else or a different group blowing up and how it effects you.
6) regulatory fees may be bs. If they're up front with them, fine, but you can call it cheap rate than nickel and dime people and it doesn't turn up as cheap. just make sure it is all in wiriting.
7) you mentioned 'internalization' - there is a lot of speculation they just cross their internal orders. This is not good, since there is a delay. when stocks are moving, the last thing you want are fancy routes, you just want to be able to get the stock on the box.
8) one other rumor is that they spread any strategy from their US traders if they land a decent fish to traders in their much bigger overseas arm. the risk is you walk out of there without the edge you walked in with.
9) no one has ever answered the question about their Class A member capital versus Class B capital. Meaning, if a trader blows up, do the owners have any cushion in there before your money gets blown up proportionally. This would be a question to ask in writing to WTS or any other firm.
There is no reason to speculate - they do.
Lets get the FACTS.
Any proof?
Please post
Any proof?
Please post
Facts are that very, very few traders become successful as a matter of fact NY Times speculates that only 1% make it, thus a firm like WTS where their business model is recruitment of newbies will naturally have very few traders that make coin. This is not a WTS but industry issue.
http://www.nytimes.com/2010/03/28/business/28trader.html?pagewanted=all&_r=0
ps I am not affiliated with WTS and my intention with this post is not to be for or against.