Registered: Sep 2012
Posts: 2

what about with Lake St? Any issues with withdrawals/payouts? have u been profitable - i.e. has ur trading improved?

Registered: Jan 2012
Posts: 32

no issues with withdrawls. You can only withdrawl twice a month though, 1st and 15th and you submit the withdrawl the day before. Some weeks I'm up and some weeks I'm down. Ive had a busy summer with work and haven't been able to put a lot of full time into day trading. Once my current project is over I'll dedicate more time to the actual day trading again. As of now I really only get in about 1 day a week, can't wait to get back to 5. I def do better when I can sit down for a full day/week and follow a set plan, jumping in sporatically is more hit or miss and isn't recommended.

Registered: Jul 2010
Posts: 8

three months later how is it going? Any issues or updates to share?

Registered: Jun 2009
Posts: 97

See this thread:

http://www.elitetrader.com/vb/showt...=6&pagenumber=1

Looks like people are having issue with them paying. The SEC is shutting down these unregistered firms left and right. Stick with a CBSX BD.

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Quote from Cmoss:

three months later how is it going? Any issues or updates to share?

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Registered: Jul 2010
Posts: 8

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Quote from Itrade2009:

See this thread:

http://www.elitetrader.com/vb/showt...=6&pagenumber=1

Looks like people are having issue with them paying. The SEC is shutting down these unregistered firms left and right. Stick with a CBSX BD.

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Registered: Jun 2009
Posts: 97

Cmoss,

I hope I didn't imply they are crooks. I don't know them personally and have no knowledge if they have stolen anyone's money yet. I don't think they have criminal intent, but they are taking shortcuts by not registering as a broker dealer. It is highly probable that the SEC will shut them down and have all their accounts frozen. Especially since traders have complained to the SEC about them already. They are on the radar. When this happens traders will get little if any of their money back. I have warned traders about other non registered firms in the past and they have been shut down.

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Quote from Cmoss:

thanks for the heads up. It's unfortunate the amount of crooks out there. Just goes to show you can never do too much research into a firm

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