Why can no one suggest a real prop firm on this section of the forum

Quote from LEAPup:

I've never heard of someone with 5k on 20:1 making it. Maybe some rare freak of nature, but most with that 5k are going to slaughter.
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Unfortunately, some firms offer 20:1 on 5k to try to attract traders. I'm sure there is a big pool of traders working with 20:1. I've ever seen some people ask for 40:1 or 50:1.

What generally happens is the excessive leverage leads disproportional loses on the account so those accounts blow out quickly.

Stick with PM leverage (6.67:1) or 10:1 if you want to take on some additional risk but 20:1 on 5k is asking to flush your $$ down the toilet, I totally agree.
 
Quote from gpstrade:

It is very hard to make money on 5k is the real answer. Even with a great system. Time you pay these montly fees:
$100 for internet
$100 for charts data
$250 desk fee
.005 commissions

The numbers are against you from day 1..........
My reason is only to aquire data so I go to the next level. To trade for someone.
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Here is the problem though. If you open up a 5k account, it's going to be very hard to actually put together a "'track record" that will look attractive. You are more then likely to blow out which is NOT going to look good. You are much better off I think opening up a small futures account or even an FX account and trying to generate returns with less leverage.
 
Quote from gpstrade:

I am located in the USA, Maryland. Since trading remote the company does not have to be one in the USA. Apple is in China. Just looking for a firm that will not close down and take funds. Thanks for help.
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I dont think a non registered foreign bd can take US citizens as clients to trade in US markets. sorry. people have posted above a list of US guys.

good luck
 
Quote from gpstrade:

It is very hard to make money on 5k is the real answer. Even with a great system. Time you pay these montly fees:
$100 for internet
$100 for charts data
$250 desk fee
.005 commissions

The numbers are against you from day 1..........
My reason is only to aquire data so I go to the next level. To trade for someone.
More...

You forgot one of the biggest costs: regulation. Registration fees, licensing fees, transaction fees by SEC, FINRA, etc.
 
Quote from EvOTraderV2:

You forgot one of the biggest costs: regulation. Registration fees, licensing fees, transaction fees by SEC, FINRA, etc.
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Hey about the SEC fees.

Say I bought 1000 shares of a stock. Transaction fee from the firm would be 6 dollars. How much would the SEC/FINRA stack on top of that? Any others I should know about?
 
the 2500 is not for any learning curve. My system will make me $100 day on 100 shares each day. so if i buy 200 shares then $200. I am no newbee. This post was for traders that do not have 25k to open accounts at IB to be a pattern day trader.
 
Quote from gpstrade:

the 2500 is not for any learning curve. My system will make me $100 day on 100 shares each day. so if i buy 200 shares then $200. I am no newbee. This post was for traders that do not have 25k to open accounts at IB to be a pattern day trader.
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OK, just for fun. If you're licensed, and can legally trade with us, I'll do this. You tell me what 100 shares you want to trade, and I'll let you make that $100 per day.

I would be happy to just get $500 risk money from you, and trade that 100 shares per day for the $100, if it wasn't illegal to do so.

Send me an email with some of your 'picks' if you like, I'll ask Compliance if I can do something like that. Diane, can I do that?


Don
 
Quote from Don Bright:

OK, just for fun. If you're licensed, and can legally trade with us, I'll do this. You tell me what 100 shares you want to trade, and I'll let you make that $100 per day.

I would be happy to just get $500 risk money from you, and trade that 100 shares per day for the $100, if it wasn't illegal to do so.

Send me an email with some of your 'picks' if you like, I'll ask Compliance if I can do something like that. Diane, can I do that?


Don
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Don, are you getting into OTB (off track betting)? Hey gpstrade, take it!
 
any CBSX group will typically take you on with 5k. CBSX firms are probably your lowest cost option. You'll have to to get registered and licensed (Series 56 or series 7) which will probably cost you around 400-500 bucks.
 
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