Registered: Jul 2012
07-24-12 10:04 PM
I'm personal trader with about 2 yr day trading experience, and looking for a prop firm for the larger capital which I don't have. I read alot post on this forum and seems title and swift (now Orbixa are the big ones). I just went to the North York (Ontario) branch of Title Trading lately, and here's what they offer.
1.$400 loss cover ($20 loss/day *20 day/mon, roughly calculated that)
$250/mon platform fee (for sterling)
$80/mon office&computer use (total $330 basic fees)
so it addup to $730 for the first month
2. starting from 100k BP and 100 shares limit + $20 netloss/day for suspension, and the limit for both share and netloss/day raise gradually to 2000 shares and $100 ($200?maybe) respectively, as one makes certain amount of net gains.
3. when I can makes 2k net gain, I "graduate" from the program (sign contract with Title trading), and since then I will have 500k BP and 70% payout ratio (after deduct platform and office fees if you use them all)
4. But if I couldn't make the 2k, I will still need to pay the basic fees and the net loss with a $300 cap.
5. they state that they won't deduct any ECN rebate credit (all would be mine)
Since I cannot get contact with Orbixa yet, tried their website (cannot complete contact form) and emailed Rahim Allani (got no response).
So my questions are:
Is title trading's offer fair enough? Good to go?
Does anyone know if Orbixa is now hiring and how to contact them?
If Title trading and Orbixa are both not good/available rightnow, then is there any other firm good to join in Toronto/North York/Richmond Hill region?