any prop. firm offering better deal?

Discussion in 'Prop Firms' started by bharatk8, Dec 16, 2010.

  1. bharatk8


    Is there any prop firm other than GoSTX with conditions of no relocation,no track record,no interview,no trial charges.
    -ve points of GoSTX :trading of less liquid XETRA scrips,software charges 180 euros/month for trading terminal which is freeware,25% to 40% share to trader ,trading terminal lacking backfilling of data hence you have to spend for live data ,no leverage funding
    Is there any other prop. trading firm offering better terms?
  2. bharatk8


    Hi Austin,
    Thanx for prompt reply.I prefer no deposit clause.Do you have any info.?
  3. emg


    i believe 99.9% prop firms require deposit. They need that deposit in case u burn their investment.

    If i open a prop firm (coming soon), there will be a requirement $10K
  4. Seriously, you expect
    no relocation,no track record,no interview,no trial charges
    no data/software fees
    no money down

    I have heard of a scam that works like that. Open five accounts with five hungry introducing brokers. Deposit large personal checks on a unfunded account into each. Push hard to trade before the checks clear. For those who will let you, make enormous trades. If after three days, close all of the accounts (if they haven't closed themselves.) If any of the accounts show a trading profit, cash out. Promptly take a vacation overseas with the money. Hope they can't find you.

  5. bharatk8


    I do not know whether it is your fertile imagination or itch to stroll,but I am sure you have not come across any prop firm till date. Had it been so you would not have aired such a view.


  6. bharatk8


    HI Steven

    Read excerpts from mail of professional trader who is trading for prop firm for last two years.

    "their test is also not so tuff,quite easy....they offer 70-30% profit split with the condition that you will get 45% after 2 month and 25% after 18month(provided you are positive for that month(3rd and 18th month)...if not then you will get paid when you are net positive...... no instant payout"

    Pl. get your facts correct before thinking loudly.Withdrawing money from prop firms is not as easy as withdrawing money from ATM.

  7. What's the min deposit for a firm these days?

    Can't be a lot of guys wanting to stick much capital into these things these days. Too many getting shut down :/
  8. Actually one should not be risking one´s own money unless one has an edge.

    Why would one risk one´s own money without an edge ....

    This is a correct approach to the business...prove your logic first....with a proper management overview....whose interest is not making money on software, commissions, and selling questionable educational services....

    One starts with such a firm...and then moves up the scale....

    I would not put a dime in a deposit firm who sells software, markups, and education....

    If YOU profit...we all profit....

    This is the future....

  9. these firms require a deposit to cover your losses becaus there software does not close accounts after maximum loss...

    which is why the firms ask for circuit breakers.

    these firms are highly leveraged a flash crash can easily lose $$$ in seconods if stock gaps up or gaps down.....during regular hours.
    the markets aer very unstable and illiquid now...gaps and flash crashes and stock halts can cause deep losses..

    traders who used trade 1000 shares now trade 100 shares. that is how thinner the market is .

  10. Most traders lose money. Without a famous track record, I won't trust a firm willing to let me trade more risk than my deposit. I would not trust them to actually place the trade. Perhaps they would sell me infrastructure, lessons, application fees, ....

    There have been too many sham companies.

    A couple of years back, there was a mortgage/loan company that was so shady that they didn't even bother having a real accountant to produce sensible account statements.

    Just recently there was an outfit selling precious metals physically. Customers trusted them to hold it in the vault. It wasn't long before customer A was buying merchandise out of the vault which belonged to other customers. It wasn't long after that a U-Haul/Ryder truck was found, abandoned. It had the left-over bullion that they couldn't fit when they changed vehicles. If you are going to buy precious metals (not my idea), then take it to a jeweler for non-destructive assaying (only takes a minute) and take personal responsibility for its safety.
    #10     Dec 18, 2010