There is absolutely no doubt or gray area whatsoever. all prop firms are truly the lowest form of scum. I will not single any out by mentioning any names, but I've traded at 3 over the last 7 1/2 yrs, very profitably, and it is the same everywhere. Ask anyone real trader at any firm, trading retail, prop, or any kind of sub llc.
If you ain't man enough to call a spade a spade or at least say why their a spade, don't post. Your just wasting server space.
you know some guy posted some time ago about getting a deal at a firm with no deposit what so ever. he went on to define what we call prop (e.g. generic) as "bucket shops, not true prop. with a true prop you don't deposit money". well said.
funny thing about echo where i traded two years ago is that they have lost a lot of traders recently..i know because they have come in for an interview with my new shop.
Guys, Let's not forget the title of the thread is big changes at Generic Trading? Please stay on topic.
Ahh so because they ask for a refundable (assuming you don't lose) deposit their scum. First off, I don't find anything wrong with a small deposit, too many people show up ask for .004 saying they can trade and are down 5gs in a blink. Second, on your theory 50 cent you pretty much backed up my point then. I worked for two Generic LLC's, one with money down and one without. So it depends on the LLC not the overall firm. Do your research on the LLC owners, because there are scum. Everyone with any track record and a little cash should be dealing direct these days. I didn't mind putting money up since I draw a check every month. You might not call it prop but trust me when I say the $300k i control everyday ain't mine. Besides I didn't have a choice. JP, Goldnut, and mother merrill don't bite if your not top 20 school, and my controlling a $250mm loan portfolio for five years didn't impress 'em either.