WTS - JC Trading

Quote from SgtSlottter:

Canada (and non-US) I have no idea. Seems a little wild west to me, althogh Swift got a Canada and US beat down (Biremis was the US BD) in the states recently.


In the US, you file for SEC registration (which is a rubber stamp). Then you need to find a SRO / Designated Examining Authority (FINRA if have retail customers, otherwise, others are available - CBOE / CBSX, PhilX, Chicago Stock Exchange (like Bright goes thru).

Then you need a clearing firm, and there are plenty of shady ones, so if you have a pulse that isn't a problem.
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thanks, thats what i believed. what if a firm (these prop ones) told you that it is not SEC registered and not associated with any b/d. how does it work?
 
I agreed with sgtslotter about verified the Firm Financial Statement from the SEC and do the Math. If the firm claim they have 2000 traders with deposit lock up for one year..it should have showed the result on their statement. Look out for the Red Flags ..such as firm being fined for failing to meet the minimum capital requirement

and for none Register Prop Firm ....do yourself a favor and please stay away. You have better chance made money trading retail, instead.
 
in the US, if a firm is not registered and making money off of tickets or transactions, they are just sitting around waiting for the SEC to shut them down in the post tuco vs SEC world (2008 til now). not sure how it works outside the US.


Quote from blackstormcap:

what if a firm (these prop ones) told you that it is not SEC registered and not associated with any b/d. how does it work?
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Quote from blackstormcap:

JC trading is not registered right? but it is under a registered firm so its ok?
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Yes, I confirmed this with WTS compliance. They have WTS branches and remote traders and all traders trade directly with WTS. That is the only way to trade through WTS....you cannot go direct.
 
Quote from blackstormcap:

so these "branches" of WTS act like introducing brokers to WTS?
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I guess you can look at it that way. But the main point is that you have to go through one of the branches to trade with them.
 
Why do none of the branches want to admit that they are affiliated with WTS? Isn't it weird. Look at LES Trading website, JC, CTG.

If they are official branches and they only have branches, it seems kind of weird...

Usually you see, 'Securities offered by XXXX Securities, FINRA member' or something like that.
 
Quote from textrader4:

I guess you can look at it that way. But the main point is that you have to go through one of the branches to trade with them.
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i dont get it. how can some random "company/corporation" just become a "branch" for a SEC registered firm. wouldnt the branch need to be registered.
 
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