Discussion in 'Prop Firms' started by watchthetape, Feb 16, 2004.

  1. I would appreciate some current comments on Assent, both good and bad and in particular are they a reputable and well run firm. Some comments on their financial stability would be helpful as well, does anyone know if they would stand on their own regardless of their affiliation with Sunguard.I am looking to associate with a prop firm and thought this may be a good forum to get some input from both current and past customers. I have heard some good things but would like to be able to hear from some with actual experience.

  2. jimmyz


    I am a remote trader trading with Assent for the last 4-5 months. I have been a trader for over 4 years, started in NYC and went remote 2 years ago.

    I have not had one problem with Assents systems since I started. Their execution is very fast and reliable.

    The only thing I would say is that if you call up tech support the guys act as if they are doing you a favor when they respond.

    However they do respond quickly and with the correct information. Personally I would rather have a rude guy with the right answer than a nice person who has no idea what is happening with my 2000 shares after the system goes down....get my drift.

    As for the financial stability of the firm, I do not have any info in that regard, but overall they have delivered everything I was promised and I am happy with their overall performance.

    I have friends that trade with them at some of their NYC offices and they feel the same way that I do. Some of my friends are even opening up their own offices under Assent so I would take that to be good sign.

    However when you interview with them, ask them any questions you would like and see how they respond. Are they evasive or do they like to answer your questions and welcome the dialogue? I have found that if there is any hesitation or annoyance when they are trying to begin a relationship with you that is a bad sign. Find another office or another firm.

    But continue to ask around and look them up under pro firms on this site.

    Hope this helped.

  3. The Hammer Platform is indeed VERY fast.

    It is just unfortunate that the charting application is from the "Stone-Age" days of the Quotron Machine ( circa: 1982-1984 ).

    As for the guys who are the "subcontractors" that support the remote-trader . . . they were always helpful when I was using the Cytrix-based Hammer Platform, but because of their subcontractor "status" they lacked a tremendous amount of support and communication from senior management at Assent.

    There appeared to be some "turf-politics" that were being played-out in the first 6-8 months of the Sungard purchase . . . I am not sure if this has changed for the better, ( and I am not sure if you will even be able to obtain an honest answer in this regard) but I know that it would be something to look into if I were to look into trading remotely thru them.

    You might be a whole lot better off starting out in an Assent office, where your needs could be addressed in a much more "responsive" manner. Other than that, the Hammer Platform was one of the fastest that I have ever used . . . Just add E-Signal or Realtick for a charting application and you are good to go!
  4. lescor


    I've been remote with them for a year now, and make a couple trips a year to the office that I trade out of to catch up on what's new.

    I'm very happy with the software, it's fast and reliable. I have heard of problems in the past with remote traders on the citrix system who were on the New York servers. Comments you might read about citrix support and reliability are refering to that. However, citrix is being phased out and remotes for the most part are either on vpn, or the new ssl. I have two accounts, one on the vpn connection, and one on citrix (the LA servers). Both have been very solid.

    They give me all the buying power I need and leave me alone to do whatever I want. I really have nothing to complain about.
  5. Mecro


    Everything said is true.

    All I can mention about the New York offices is that it really matters who you are under. The actual company Assent is a good solid firm but there are quite a few bad seed.

    My advice if you are going prop is to make sure you have the least possible power above you. Try to trade direct prop under Assent itself, not some "business man".
  6. cuz


    I am sorry guys/girls I wish I could share the same enthusiasm as the rest of you.

    I think hammer sucks and tech support is an equal match.

    I mean what good is speed if your constantly going down.

    They do give incredible leverage though.

    I also think Mecro gave great advice
  7. Dustin


    I agree with lescor. Been to the SD office a couple times in the last year to get updated. No complaints here...Hammer is heads above the other software I have used including IB, Cyber, RT, Redi. I also use the API which is the best feed I've used.
  8. dgmodel

    dgmodel Guest

    thinking of going the assent route as well...prop, in office. what are the minimums required, what ratio is your account 20:1 40:1 etc., what are the payouts??? what are some of the commissions??? do they have any type of "training" program or structured educational services???
  9. cuz


    I don't work there anymore...........was about a year ago.

    At the time the ratio was 40:1, 95% payout, and penny a share.
    Obviously the more volume you did the lower the commish, but that is my point.

    It was churn and burn. Thats not my style.
    No training or educational services to speak of.

    Oh by the way, this wasn't Assent directly, it was a firm that cleared through them.

    But 6 0r 1 half a dozen or the other..........know what I mean.
  10. VOLUME


    95% payout. Penny a share.

    Wow, you were getting robbed.

    Please don't compare your old firm (that was not Assent) with a direct Assent office.
    #10     Feb 20, 2004