Worldco Going Out of Business

zdreg. I agree with you that 100% payout violates the spirit of the reg t rule BUT a good number of these pro shops will allow a small minority of their traders to go negative which could be a safe harbor if they get audited by regs.
 
Since Shoney doesn't take your money it makes sense to me to consider them the only game in town, if you are worried about losing seed capital, since all you can "lose" is deferred compensation, which historically they have never reneged on. Otherwise go with a retail or professional firm which you are SIPC insured. Of course you won't get all that leverage....but you just might stay in business longer because of it!
 
Quote from Sizeplaya:

Where to go trade now that Worldco is closed?
There are a few companies...
Wanted to recomend a good place to trade for other worldco traders: Assent LLC. Great stable system, low comms, nice trading environment.
Location 91 5th Ave (17th st), 5th floor. Ask for Mike.
212-531-8546.
Good luck.
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Be careful before you go to Assent, they lock up your capital for a year.
 
That is good news the schonfeld is coming back, slowly.

I would highly reconmend schonfeld to those traders who want to trade. Their payout is still good, if its the same as what i was under. ( i cant post what their compensation was due to what i signed back in the days, confidentialality agreement.)

So, i highly recomend the good traders from WORLDCO, give schonfeld a shot....

If your good.....Schonfeld will support you 100%
 
Quote from CalTrader:



This article makes the case for why you should ALWAYS thoroughly investigate potential business partners. If any type of negative information comes up it is nearly always better to refuse to do business with the firm rather than gamble on thier future behaviour.

Why people dont check out who they are dealing with is frankly, hard to understand ......
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I 2nd that. I wonder where all these traders are going to end up!! Walter is probably Thailand by now setting up a new trading operation!! :cool:
 
Quote from bmwstox:




I 2nd that. I wonder where all these traders are going to end up!! Walter is probably Thailand by now setting up a new trading operation!! :cool:
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Walter is in Thailand. He moved there with his wife 4 months ago.
I think he wanted to open a Worldco office there believe it or not.

As far as the Worldco traders, word has it that Schonfeld is scooping them up. I heard the deal wasn't that great though.
 
Quote from Maverick74:



Walter is in Thailand. He moved there with his wife 4 months ago.
I think he wanted to open a Worldco office there believe it or not.

As far as the Worldco traders, word has it that Schonfeld is scooping them up. I heard the deal wasn't that great though.
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Walter will probably not be coming back for some time!! I wonder if Worldco Thailand is up & running. lol

:cool:
 
So what is the latest on Worldco?

Are Worldco traders still trading there waiting for an official announcement or are the offices totally shut down?

There seems to be no official statement or press release yet and the Worldco website seems to be down now!
 
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