Assent Sub-LLC

Discussion in 'Prop Firms' started by MAnderson, Mar 29, 2008.

  1. MAnderson


    Here is the deal, I am interested in opening a Sub-LLC with Assent and have looked well into this already and there are a few things that are skeptical to me if someone (in the know) can assist me with these questions I would very much appreciate it.

    1. Assent requires their Sub-LLC owners to have a minimum of 30K in their sub-llc account with them, then they issue you a branch code and can start recruiting traders under that branch. What is the point of the 30K being all traders have to be licensed now, The owner of the Sub-LLC does not have to use any of his leverage, since all traders have to have their 7 the leverage is provided by Assent. So what is the point of opening a Prop Shop with Assent and having to put capital up?

    2. Does anyone know for a fact if Sub-LLC owners of Assent get charged monthly for providing their traders with eSignal? I can't seem to get a straight answer on this from Assent. Does the Sub-LLC owner of Assent get charged monthly for all his/her trader e-signal accounts? If Yes, what is the cost?

    3. I have heard with all the "tuco" stuff going lately, Assent has not paid some of their Sub-LLC's in months and they are pissed off. Has anyone heard anything on this? I sure do not want to open a Sub-LLC with Assent if this is going to be the case. Has anyone heard in the last couple of months any Sub-LLC with Assent not getting paid for that month.

    I appreciate it. Just looking out for myself before I decide to go forward and open a Sub-LLC with a slelf clearing B/D.
  2. Interesting to note the policy is that all traders in your sub must be licensed. Apparently, Assent has gotten religion.

    I'm sure you can pass on whatever costs you have.
    The key point is that the BD is the only one who can pay a registered person. I know it seems stupid--but that's the rule.
  3. i bet there is a way around this. pm me and we can talk. i will also throw some ideas your way.
  4. For sure you and any traders underneath you have to pay their own eSignal costs. ESginal is a 3rd party independent company and Assent does not give this to you for free as they pay for it as well. In fact Assent and the others offer a discount to eSignal. But you and your traders pay your own eSginal fees. It is not for free.
  5. MAnderson


    best - Not all traders under the Sub-LLC have to be licensed. You can open an individual account. 30k 4:1/2:1. (sorry for not throwing that in there)

    Thanks for the info regarding eSignal/Trade the news. Would it be fair to say a Sub-LLC of Assent will get a better rate on eSignal due to the amount of subscribers? Or would it be the same price having a trader subscribe on their own not going through Assent?

    Also, Anyone hear of any Sub-LLC's with Assent ever having problems receiving payment from Assent?

    Just doing my due diligence before deciding who I would like to open a LLC with.
  6. I would also offer something OTHER than Esignal for your traders charting - Esignal is substandard imo.
  7. Agreed.
    E-Signal is a joke and has been for several years now. Just look at some of the threads over the past several months that highlight a ton of issues . . . everything from latency to charts "freezing" up and platform disconnects. Been there, done that - - - and it isn't fun spending a ton of hours doing E-Signal's job at troubleshooting, either.
  8. MAnderson


    What do you prefer over e-signal?
  9. For charting and TA, RealTick.

    Unfortunately, RealTick has gotten expensive over the years . . . Try RealTick's "Analyst" platform for charting.
  10. problem is none of those link to assents software so its pain in the but to use. the whole beauty with esignal is it links with a ton of platforms out there so all you do is click the level 2 boxes and your graphs pop up
    #10     Mar 29, 2008