best prop/llc in new york city?

Discussion in 'Prop Firms' started by NY_HOOD, Aug 31, 2007.

  1. i have seen assent's platform up close and i like it. what are some reptable props in nyc who are using anvil?
    thank you
  2. I really don't understand what your point is.

    Just join Assent....there's no reason to go to any sub-LLC shops.
  3. i read that joining assent directly means 2 things.
    1) 30k has to be in your account
    2) you have to keep your money there for one year.
    if thats the case i might as well just stay with tradestation.
  4. cstfx


    Take a look at Avatar. They're a sub using Assent and people really have nothing but good to say about them. Met the owners, Ray and Omar, last year when I was looking for desk space before I found my current office.

    SMB Capital now works out of their floor too. SMB used to be a sub of someone else, but I got to figure they are using Anvil now. And their recruitment works closely with Avatar.
  5. 1) That is not true. You need 10k to open an account, not 30k.

    2) Yes, there is a one year lockup.

    About the lockup---I never understand why people get so hung up on the one year lockup. For a profitable trader, opening an account with 10k is no big deal. Most guys who are profitable are going to still be around in a year...but if they decide to leave, just use the 10k that is locked up to buy stocks, ETF's, etc. just like a normal brokerage account (it's not like the money is going to be sitting there earning nothing for you.)

    If a trader desperately needs the 10k, he obviously couldn't have been making any money trading anyway.
  6. A few years back I traded thru an Assent Office remotely from home. I put up $5000 in capital and had $300k in intraday buying power. The $5k was subject to a one year lockup. However I was trading as a prop trader with a series 7 and 55 license. They are one of the few prop firms registered directly with the NASD, most are registered/licensed thru an exchange such as the PHLX.

    They may require $30k from unlicensed traders, but requiring that much from licensed traders and locking it for one year would make them uncompetitive. If you are unlicensed, then taking the series 7 and 55 exams is a pain but nothing too bad.

    Remeber there are firms such as Cygroup Trading and Benchmarq that do not require any licenses and start you out with 20 to 1 leverage.
  7. Zinc provides Lightspeed, but I heard they also provide Anvil to those that prefer it. I haven't used Anvil, but Lightspeed has been very good so far for me.
  8. Can anyone with experience with both platforms outline the main advantages of one over the other?
  9. Anvil has more filters - a lot more, and they're better. Otherwise, they're mostly the same I believe.
  10. sun170