They claim to offer: $0.20 per 1000 shares. $1,500 for 2 weeks of training. (pay for training) No capital contribution- all firm traded money. $220 per month Sterling platform fee. $49 per month "risk management" fee. Extensive dark pools/ecn/floor access. 50% payout for first 10k monthly profit, 60% from 10k-20k, and 70% over 20k. The training seems to be geared toward fading opening gaps, scalping for spreads, order imbalances, and pairs trading, with a heavy emphasis on using spreadsheets to back-test. They claim 2/3 of all traders recruited are successful, but they have only existed for ~7 months, if that. They claim to have a trading floor in LA, and now in San Fran. What do ya'll think?
I have found them to be pretty good. Actually I am going to be helping them start an Atlanta Office soon.
Didnt I just say I am going to help them start an Office in Atlanta? so... yes I know alittle about the firm. You must have graduated the top of your class.
Then you should know about promoting a firm without paying to support this site is spamming. This thread is classic spamming. Low post count responding to another low post count about a firm no one ever heard of. Who has nothing but virtual offices, no less.
How am I spamming by saying I am going to help open an office in Atlanta? Thats known as fact. I havent said anything more than my opinion about the firm saying, I heard its good. WOW thats really spamming for the firm. You sir need an education
do u know how to use a spreadsheet properly? what do they require of you education wise and/ or experience wise.
First off, am am not a spammer. I attended their open house last night and wanted to share my findings with the online community. I have been looking for a legit firm in the San Fran area to trade with and this opportunity is one of the few to come around in the last few years. I just have no idea if what they have to offer is good. From a commission standpoint they seem incredible, at .20 per 1000 compared with $3-5 at other prop shops. The platform fees seem on par with other prop shops. But this firm claims no capital contribution into a trading account, hence the 50% payout. With $1,500 being the significant upfront cost it seems like it would be a pretty good opportunity for an under-capitalized beginner- if the company is around in a month or two. But , of course, this company didn't exist just a few months ago so the likelihood of this firm disappearing is probably pretty high. If that were the case, losing the $1,500 and a few months of confusion would hurt quite a bit. Would any experienced prop trader think this is a decent opportunity? How can you know?
sounds like the wts branch that was supposed to launch last august. not knocking it. just what it sounds like, especially the items you mention in training. (the entire structure as well, but that sticks out) trading alone is hard for someone new. being around some warm bodies for 1500, its not the end of the world. I would of done it if it was around when I first started and I hadn't been lucky enough to be trading at a time when firms backed people plus draw (just a few years ago...same firm no longer does. most firms don't (yes i know optiveresque/pie in the sky places do still, but when i say prop firm i'm not talking about that...prop firm = sit down, press buttons, make/lose firm's money. and that 1500, they don't make much on that. most they can make is all of it, 1500. they'll get some back in fees, but come on, lots of folks will lose at least 1g before getting cut, so theres not much left to be operating a 'scam'. (well, it would just be the dumbest scam if you were that cynical in the first place) and there will be people saying "o but you could get a 75/25, .0002 with goldie". and 'you' could if you have some kind of record/experience. If you've never traded a share in your life, good luck negotiating that with rob. No disrespect, but i know people who had to bargain just to get that, and they had months and months of sheets of profitability. just cause 1 out of the loop noob tells another noob all over these boards about random deals he/she has never gotten or even tried to get doesn't make it true...or attainable. and then you'll get the people saying "o, you could go to title or swifttrade". Do you SEE a title or swifttrade in California? Wanna move to Canada/Vancouver? For any detractors, lets not go full retard here. The cost of a plane ticket, let alone relocating wouldn't make sense. swift would back you, but you could just back yourself at this shop in CA, cost would be the same seeing as how title/swift aren't going to reimburse you to relocate, same shitty payout/training, ect. Think they'd give you a bigger leash at swift/title if you wasted money to relocate instead of backing yourself/getting 'training' at altrion/wts/whatever? not by much. its not the best, but fuck it, whats the alternative? a. etrade b. 1.5k deposit at imaginary prop firm (never heard of deposit that low) c. Canada d. Fake your own identity and sneak into FNYS/GS. just remember, beggars can't be choosers!