I was with CTG and didn't notice anything shady. Their educational program never got off the ground the way they had hoped I think. A lot of the routes got taken away and the scalping program kind of died in the NYC office. Some people are still making a lot of money scalping in Boston. I've never heard of one complaint of them doing anything unethical.
How many guys actually made money by trading MIDPOINT in CTG? I know many people joined them and they left. All they got was Time wasted- Money Wasted. MIDPOINT trading is waste of time. Are you still trading with CTG?
No, I'm with Boston. Some people were making mid 6 figures scalping while I was there though. I went to work on an unsuccessful algo for 2 months and the scalpers were gone. What happened was they were killing the firm that provided really good routes and they took them away. From my understanding people were going bid to ask all day getting really good fills when scalping was at its peak.
There's no educational fees. There's $150 in monthly fees for data and registration, a small fee for each share traded, and a profit split. The fees are so low I'd be surprised if there's a better deal out there. Let me know if you think there is.
That fits in. Nothing specifically sketchy with CTG, but not a buyout due to consolidation. That is totally ridiculous. Its just a failure. The remaining guys have lock ups probably so WTS can't throw them out. Don't be surprised when the next branch drops there... Although I don't get the feeling there is much left anyways.
CTG tried to differentiate themselves by education, scalping, and algotrading. By the end of the year they were pretty much the same firm, sharing the same room and rates.
I don't know, I haven't been following. Seems like many people here want to assume the worst though. Perhaps WTS just didn't want to give them to get a cut anymore?
Of all the firms I've heard of on this board, that group got the highest praise and the best reviews from traders. Maybe the money was no longer there and the group went on to do something else. It would be nice if this was a split and these guys are off starting their own b/d. If we see a new CBSX firm popup clearing through ETC, you know this would be a possibility.It would be nice to see some more competition in this space but that doesn't appear to be the case. Who knows who will be left. I have a feeling we're going to see unprecedented changes in the industry between now and 2015.