Used to trade with them. Don't worry about BVI. It's not difficult to figure out, through communication or due diligence, whether they are seriously doing business or only wanna cheat your deposit . I used to trade with them and they are good even though I moved to another prop firm for trading. It's just because that I want a better combination of setup parameters, comm and payout.
i was intrigued as to what round trip costs Shark offer. I filled in the form on their website and the trading conditions they sent me say on their fixed schedule they bill $0.02 per 100 shares which is 20c per 1000. On the fixed schedule the platform fee is $275pm for 100,000 shares per month and increases by $75pm for each additional shares per month. All at 30:1 intraday leverage and 85% payout. These round trip costs are insanely low. If true you can trade 1m shares month at 20c per 1000. for a monthly platform fee of $950pm. Is anyone scalping on their 20c per 1000 rate? This seems to good to be true. Yes I know they are based in BVI and there is risk however these sort of outfits are setup so your initial deposit is small at $2000. GL
Come on guys does anyone trade with Shark Traders? fess up. The 2c per 100 shares ticket cost with 85% split is incredible if you can get it. Scalping small and mid caps could be a dream at that rate. Several years ago I had an account with a sub group of WTS. They had a list of about 10 stocks with very low round trips but not as low as shark iirc.
That would be me. Have been trading with them for 2 years, yes costs are low but it's true. So just go ahead
Any updates from any current traders here? I'm interested but it's hard to find any in depth reviews on this outfit. Of the few reviews on different sites that I have seen, it seems to be the same 4 or 5 reviewers saying the same thing. Kind of sketchy...
Alright guys I have read the entire last 8 pags of this thread since I'm taking in consideration joining Shark Traders and as same as you I'm not 100% convinced. I mean they started Shark Traders in 2011 and googleing you still can't find verified or massive reviews of them? But do not stop there, if you think about it there is not even one negative review, and that's also weird. Anyways guys if you have traded in the past or if you are trading now I please ask you to post a small review or something. Thxx
Alright guys I FOUND OUT WHERE THE TRICK IS. After an entire day of research here's where they actually make money: They take 15% of your net profits as a "commission" everymonth. So basically if you make 1k bucks in net profit in a month they will automatically take 150 bucks of your account. And a withdraw is around 43 bucks each. And remember the platform is very expensive with them, basically from $200 to $500, because they say "only $155" but you gotta remember that they also say that you gotta pay for the trading Quotes all by your self, which you can see at: http://sharktraders.com/etc/docs/Shark_Traders_Trading_Conditions.pdf and they are pretty much all expensive. And also there is a chance that they route your orders to other places, and doing so you basically may not get filled or at least not get the best fill, which for what I currently know is Not a good thing. CASE CLOSED
Come on man ) trick, really?? Start with understanding how proprietary industry works. This is totally normal that there is payout split. I am in this industry since 2007. Wrote a lot of articles online so people can understand the difference. I have my own group since 2011 which works the same way like Sharks. I can confirm that such low commision is normal thing. Even lower if you are doing massive volume. Which is important for experienced traders. All in all you must compare what you pay with retail broker to what you will pay in any prop group. In most cases even after payout split you will earn more with prop. Prop commision vs retail commision make huge difference. For beginners - I agree quotes and platform fee might be expensive. This is because prop traders are great as a pro trader from SEC point if view. Not because someone wanna charge you more... Best