Anybody here familar with Genesis Securities?

Discussion in 'Prop Firms' started by WallStWiz78, Jul 3, 2006.

  1. OK, me and my friend are planning on starting up our own group and office thru Genesis Securities in NYC, but the problem is we don't know much about them. We traded with Assent in the past and because of our past dealings with Assent, we decided to stay away from them and go with another firm. The offer we've gotten from Genesis sounds too good to be true, thats why I'm sort of skeptical of them. So, any insites about Genesis Securities would be helpful.

  2. They self clear, they can offer amazing deals.

    Great customer service, and their platform is extremely reliable. I didn't trade directly with them, but through a prop firm that is a sub-account, still almost the same thing though.

    I liked them, a lot better than most others out there.
  3. TOM134



    Today's (7/11/06) Wall Street Journal has a very informative article entitled "Online Stock Trades Get Even Cheaper".

    In it it compares various on-line discount brokerage firms' $ commissions.

    The article mentions that Genesis Securities is launching a unit called 'SogoInvest' which "plans to charge between $1 and $3 a trade, with no minimum balances."

    I hope this helps.

    If you find out more about 'SogoInvest' I would appreciate your comments.

  4. mc312


    Here's the SogoInvest Web site:

    I just found the thing when I did a Google search. I'm going to start looking into it right now.
  5. Dave,

    We worked together before in Assent. How u doing? Why don't you talk to They have very low-cost structure as well. I believe their per-trade commission is less than $1, a lot lower than genesis. In addition, you don't need to find traders with series 7.
  6. TOM134



    Would you explain a "series 7" trader?


  7. You need to be licensed to trade prop (i.e. to trade firm's money) Series 7 is the exam you need to pass.


    Dave what do you mean looking to start a group? What kind of deals, with what kind of capital base?

    Central Fla.