Don Bright
Bright Trading, LLC
Registered: Oct 2001
Posts: 11698 |
09-10-12 08:41 PM
Quote from mb_es:
Would love to hear some perspectives (pros/cons) of joining a prop firm vs. portfolio margining a retail account.
Seems like one of the biggest downsides to becoming a 'professional' - broker certification such as series 56, is that one is now required to pay live data feeds (~$200) for each brokerage account.
One of the biggest upsides seems to be access to greater buying power ... but that is a double-edged sword.
Thoughts?
Give me a call tomorrow, and I will give you both sides (promise). 702.739.1393 usually between 8-10 Pacific time.
edit: To give you an idea however, when we set up for Portfolio Margin with our private family group, we found out very quickly about something called "Risk Margin" - which is totally discretionary by the Broker/Clearing Firm. We found out that we were not always entitled to what we expected (about 6 to one leverage), in fact we had to put extra money in for certain positions. But, call anyway if you like.
Don
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Don Bright (not an alias)
Bright Trading, LLC
http://www.stocktrading.com
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