WTS Prop - $79 monthly fee?

[hfmanager]

I have been referred to WTS by some trader I met at a party over the weekend and after looking at their paperwork, I see a $79 risk management fee. Isn't a prop firms main job to manage risk? Is this fee standard for all prop firms?

 

[hitnrun]

administration fee they call it. standard for wts $ 69.00

someone has to pay for the coffee & donuts every morning

it's a bs fee every wts trader is charged / not standard in prop

 

[EvOTrAdEr]

most places have the fee, whether they tell you about it or make it on marking up the software.

with the constant regulatory changes and full-time accounting work needed, they look to make a few bucks on it. I personally don't think a $79 monthly fee is something to bitch about if you're getting a good deal on commissions.

 

[hitnrun]

they been charging this fee for a long time . nothing new

everyone has different fees for platforms & commissions so that is more important to zero in on

you have to neg the best deal you can otherwise any prop firm will make you there bitch

 

[hfmanager]

I guess I would not mind that fee if I did not read more potentially insidious practices that WTS attempts to hang on their traders. Agressive ECN fee markups seems to be their specialty

 

[hfmanager]

Overall is that fee been known to be negotiated or does it stay from all?

 

[hitnrun]

with volume everything is neg if they really want to make a deal

 

[WhiteOut56]

just pay the damn thing. Overall net all costs WTS gives ones of the best deals on the street

 

[hfmanager]

I dont think I am going there: they have a bad rep. If anyone from the firm is on this board, convince me otherwise and PM me.

 

[KINGOFSHORTS]

Quote from hitnrun:

administration fee they call it. standard for wts $ 69.00

someone has to pay for the coffee & donuts every morning

it's a bs fee every wts trader is charged / not standard in prop

I never understood why people think Coffee and donuts are free. 69 dollars a month per person is a fair cost to have both items available when you walk into the office.