what is the best firm to trade with right out of college from your guys experience?? what do you think is the worst?? and why?? thanks
the best would be worldco-assuming you bring 0 dollars to the table.....You will learn the basics on your own and risk 0 dough. In my belief this is what Worldco is good for---and nothing else.
We cater to those who want to treat their trading as a business, and plan on doing it for a long time. We focus on trader training and retention, and don't play games with all the nuances (like charging more if you don't bring in money, which is worse than simply transferrring some money from one bank to another). Our traders become sure of their abilities, and want to keep 100% of their profits. Our fees are competitive, and we are financially solid. When checking out any firm, check the basics (remember, you're becoming a partner in a firm, you don't wan an Enron). 1. Check balance sheets and Focus reports. 2. Be sure that the owners have many millions in the firm, to protect the traders from each other. 3. Be sure they have a long time relationship with a good Clearing Firm. 4. Visit their head office, see if the principals actually trade...this usually helps "trickle down." Other firms than Bright Trading should qualify. If they don't show you their financials, then be cautious. That will help you avoid a lot of headaches. Don
Find a firm that is not swimply a brokerage selling leverage. Find a firm that is willing to take proprietary risk WITH you. A 100% payout is not all it appears on the face. A lower payout with the firm participating in your losses and profits could be better. Just trade larger to overcome the payout loss. Then, you know that the firm's interests are the same as yours. A 100% payout simply means they need you to trade volume to make money on you and/or have you carry balances.
Or, become a customer and not worry about the firm's balance sheet and length of relationship with a clearing firm. SIPC protection is the key. 4 to 1 intraday and 2 to 1 overnight is plenty of leverage to get yourself in all the trouble you can handle.
is there any other firms that are like worldco...0-5k deposit , good commision, easy to get in and trade, ect, ect....