Are there any honest, reliable prop firms out there?

Discussion in 'Prop Firms' started by bonds, Mar 6, 2006.

  1. bonds


    I'm trading with my 4th prop firm right now... all of whom have been mentioned extensively (both good and bad) on this board. I have had at least minor problems with every single one of them from being overcharged commissions, hidden fees, late payments, lying to me about my check be sent out when it hasnt been, poor customer service... im making very good money for these firms based on my volume and pl but i still continue to get bad experience over and over....

    Now would i would like to know is this the norm in this business or does an honest, reliable prop firm exist out there? One that charges you what they say and pays you when they say they will. If there truly is one out there please post or pm me....

    I'm getting VERY frustrated.
  2. mnx


    i've never been overcharged on fees, and I've never recieved a cheque late...

    sounds like you been with some of the worst.

  3. bright trading.
  4. bonds


    hey i started at swift myself... if you dont thnk ure being overcharged on fees sit down one day and calculate ur charges.... there's a reason the average swiftie pays over $500 in commissions every day.
  5. i agree. finding a good mentor can shorten your learning curve.
  6. mcelitetrader

    mcelitetrader ET Sponsor

    Answer the bloody question....unreal.....everyone is a more than willing to offer their trading advice.....ANSWER THE QUESTION....

    I put out a post last month trying to get similar answers.....ecn rebates ....monthly fees...structure.....and the same gibberish comments appeared....

    The prop shop I am at was mailing out cheques at the 10th day of the following month...not bad but not great by any means. Without warning I am told the cheques wont be mailed until the 25th of the following month....okay. Not what I wanted but understandable.....No cheque for 2 months now?....unable to know what my P&L is for 2 weeks? What other job allows such horrendous activities as commonplace...

    Respond to the posts with answers not your views on trading...its unreal...why is everyone so afraid of commenting...

    Don Bright you need to come to far as I can tell you are the only trading house that consistently has positive writings...

    Swifttrade has ridiculously low payout....35%....insane that they can get away with it....Why dont traders at swift put down 3k and ask for 80 percent with the same fees? This has me completely baffled.

    Im open to comments PM me with your best offer.....

    I trade 20-100k shares per day......
    5-40 trades per day
    averaging 7k per month
  7. bright is in canada.
  8. 7k per month? That's desk fees.
  9. wow what a low payout i trade 2 million shares a month and get 95 percent payout and .0025 commission deal maybe you should keep searching but hey are they any forex traders here i want to get my feet wet in the currency market
  10. Sanjuro


    That's a broad question to have a definite answer.

    Bright Trading is already in Canada with PairCo.

    Why don't you give them a call and let us know your experience?

    #10     Mar 6, 2006