Can someone help me here please...I need some guidance

Why would you go with a deal like that if you can get by with a fraction of that deposit and lower fees ?

 

I would love to know what prop shops offer a better deal. Please share

 

why?, what's the point?

seems all the checks and balances that actually help and protect you are being waived, and you're supposed to agree with these?

well, do you actually expect to succeed?

can you just prevent losing NOW, and walk away to a more formal shop that actually requires and enforces these license issues?

or are you just so pressed for time to accept these watered down terms?

 

limitdown, what exactly do you see as the benefits of having a 7? I think that the only thing that isnt required is a 7 at the cbsx firms if they are doing things properly, all traders must have background checks, fill out a u4 and are subject to the same proprietary oversight with the only exception that I can see being the ability to check up on a trader on finra's broker check system by anyone from outside the firm, which if there are no customers involved shouldnt be an issue (the firm I believe can still access all relevant info on the trader.) Not trying to be confrontational, really just curious to know what the benefits are if there are 7's involved.

 

At least on the first deal if you happen to hit a home run on something you get to keep all the profits. With both deals since the deposit amounts are so low (2k or 5k) more than likely after 6 months you will lose all your money anyways.

I say go for it, not a lot to lose but $5,000 dollars and for maybe 6 months you can get a chance to trade the markets.

The second deal amazes me, so let me get this straight the Prop firm is going to:

1.charge you a commission for every trade you make

AND

2. get a cut of any profits you happen to make

Where can I get that deal from the Prop firm side ??????????????????????????

Never since I been trading has any of my brokers (be it TradeStation, Thinkorswim, E*trade or Scottrade) asked for a cut of my profits.

 

the only thing with a prop firm is the leverage to trade
if a person has $5K he can trade up to $100K
While IB TDAmeritrade does,t allow that
FUTURES area way risky to trade with $5K :?

 

Yeah and I bet they charged you 20 cents per 1000 shares and gave you 50:1 leverage, too.

 

So what you are saying is that a Prop firm’s best features compared to above brokers are:

1.Better on a per share commission rate

AND

2.Provide more trading money/capital that someone can trade with.


Well if someone is a little resourceful they could borrow trading capital from friend/family, obtain line of credit from financial institutions just to name some of the many different options available to someone.

Someone then could look at brokers that charge commission rates on a per-share (say .005) rate instead of a flat rate.