advice on Hold Brothers

I'm looking to start with a prop trading firm in about a month or so. Does anyone know anything about Hold Brothers?

I was told the usual:
-minimum 5k capital, with required 1 year lock-up because they're a BD
-series 56 required
-up to 25:1 intraday
-.004-.001 per share fees depending on volume
-99% payout twice/month
-discretionary trading (no mentorship, training, etc.)

I'm really looking for any advice on this. I know they were fined recently for questionable trading activities, but does that suggest that regulatory agencies have already looked into them and they're legit?

 

Are you really asking if the regulators are signing off on Hold Brothers as legit after they just fined them 6 million bucks?

 

These prop firms are con artists living on traders' commissions and fees. But they are smart enough not to take any risks, so they ask you to put down 5000 dollars. Your losses will be taken out of the 5000 dollars. They risk nothing. Well, except SEC fines.

 

Dumbass, it's called a business model....is Chipotle a con artist too because it knows people want to eat so it sells them food?

Prop firms give you access to more capital and a platform to trade off of. It's a risk to trade, of course, but starting any business is risky and 5k is certainly not much to lose if it doesn't work out.

 

You sound very familiar ("business model"). Are you the recruiting guy at Hold Brothers?

 

So your broker doesn't charge you any commissions? I mean, you're being overly dramatic, these firms need to MAKE MONEY otherwise why be in that business? They make commish and some fees and in return the trader gets leverage and a platform to trade. If that trader is good, then he/she makes money, gets more leverage and can possibly earn more. It's not rocket science.

And no, I do not work at or recruit for ANY firms, prop or otherwise.

 

You never gonna learn , daytrading and margin will bury you , keep it simple , plenty of brokerages , more than enough for profitable trading.

 

I've been daytrading for 15 years, but thanks for the warning LOL

 

What did you want them to do, take risks with noobs so they can go bankrupt?

 

perhaps they should give you a desk with an aeron chair and a velvet cushion and pay for your bloomberg terminal.

if you think that giving leverage to prop traders is not a risk you should not be trading.

if you think they are con artists don't deal with them.