Two simple questions, and please, no BS in this thread. Question One: What are the best firms for leveraging large deposits (100K+) Best overall, meaning: a solid firm, lowest fees for lower volume intra-day equity spread trading. Question Two: I am coming from the energy and some ag spread background at the last place I traded, so I'm used to and can handle high leverage. So far all I've seen in the equity prop marketplace is 10:1. I'm looking for 20:1, as the spread trading is more capital intense. Is this out there? Thanks in advance.
u want a firm with a big name and big balance sheet. Like Lehman Brothers...no wait... Bear Stearns...no wait...
Never could quite make it trading the curve. I really enjoyed the energy markets, but so far haven't been able to find a firm thats hiring. could be that even though my track record is profitable, its only a 1 year track record. Not going back to the old firm though...wasn't a big name place for a reason apparently! haha! Haven't had much luck with finding a futures shop, so looking at equities...but it looks like equities firms that even look at non-directional spreaders (that want to trade their own account for higher % payout) is quite small. Most seem to be bucketshop type outfits.
Why not just find a prop firm to trade without a deposit and use the $100k to live on for 6-12 mths (hopefully a year plus) Or take some time off and get an accreditation for trading - SEC exams, or a couple of wilmott/taleb risk management seminars.. etc... Theres a lot better things to do with $100k than trade. Sounds like a dumb comment, but depending on where you are at, it may be good advice.
I've been looking for a "no-deposit" or REAL prop firm. Unfortunately, with only a one year VERIFIED track record in energies, not many are looking. I have been trading for around 3 years, and I do not want to do anything else unless I have to. In hindsight, I should have kept all of my old detailed account statements and have a longer track record. Also, I think its dumb to think that I could trade with any less than around 100K, even with 20:1 leverage. There are no breaks on the spread price in equities as in futures, so its twice as expensive, and I'd prefer to have odds on my side and make 3-400K per year as a 15-20% return on a 1-2million dollar account, than a 1000% return on a 30-40K account. The latter is only a pipe dream offered out to sucker in the "5K deposit and get rich" newbs....sorry to be so blunt.
I'd check out Echotrade and Bright Trading. I am at Echo and have had a 6 figure account there for years with no issues, solid firm. Both are down with leverage on spreads like you are looking for.
I hear you men! And that is the best way to go! If you want a firm that offers good leverage, then you should try Star Alliance Capital One! They offer 20 to 1 leverage for day trading, and 4 to 1 for overnight trading! That firm has a lot of "whales" that swing big account! The boss of Star Alliance swings a multi-million account. He's name is Ellie and is a very cool guy! But this guy is insane when it comes to trading! I remember, one day he made $1 million on the spy! It was that day where market drop for 6 days in a role. On the seventh he bought as much as he could when market came to 8,000 and then that took of like a rocket! What a day! Anyways, if you want to swing a big account, then Star Alliance Capital One is a very good place! Hope this help, and if you want more info, just PM!
^What he said. Give Bright and Echo a call and tell them exactly what you plan on doing and they will let you know what you be allowed to carry. Pay special attention to any interest charges (short, long, haircut, etc.) because those add up huge if you are holding size spread trades.