Andover Trading - info please

Discussion in 'Prop Firms' started by snapper, May 9, 2002.

  1. snapper


    does anyone have any information about andover trading, either pro or con? how is the management? how are the fees? is my money safe with them? any info would be appreciated.
  2. Get it in writing...
  3. Aaa, all yuze guys money is safe widdus.
  4. As always, and to avoid any "sour grapes" I will offer the same advice when checking any firm.

    1. Check balance sheets carefully.
    2. No "sub llc's" No franchises...period! Period!
    3. Be sure you can carry positions home at months end (reporting day) in excess of 2 or 3 to 1.
    4. Check clearing relationship (self clearing may sound good, but it makes for a very high "monthly nut" that needs covering).

  5. Don your number 3 on your check list talks about month end. Shouldn't the requirements be the same at any time during the year, month, day, minute even? Are the rules any different right NOW for instance than at months end?
  6. Turlo


    I know of a couple of people who went to Andover from my firm. THey gave them the choice between trading through redi or their own proprietary software. If you use their proprietary software the deal is as follows:

    .005 cents per share for nyse or maketmaker trades
    .0075 cents per share for ecns........

    you are required to put up 5k.

    I am looking at them also. I am going to wait to see how the guys who went over there recently like it. Half a penny per share is hard to beat.

    Also take a look at Bright, Eco, Hold brothers.

    Stay away from firms that lock you into contracts.

    Stay away from firms that keep a significant share of your profits
    They make enough on commissions.
  7. Does anyone who subscribes to this board, work at the Andover office in San Francisco??