Good firm. Doron is great at helping you identify strenghts and weaknesses and establishing the right strategy. They offer training videos, very low commission rates, and they seem to really want to help you be successful as a trader. Their education is all free whereas most other prop firms charge you. Good customer service also. I've been with them for about 2 months and am very happy with my experience thus far.
are you calling me a shill? i'm just trying to provide a review of a prop firm that I work with. this website won't let me do a review unless i have 30+ posts. so i felt this was the best way. i have nothing but good things to say about this company thus far.
I've been with them about a month now. So far I have nothing but positive things to say. The customer service is outstanding! There is lots of training provided. The Series 7 material (pass perfect) was invaluable. I would never have passed the exam without it. I have followed the threads on the prop firms and it's hard to understand why they seem to be so despised. Anyone that says anything positive is instantly labeled a "shill". I don't have $25,000 to open my own pattern day trader account, but putting up $5,000 to learn the process seemed like a very reasonable alternative. I have $50,000 in intraday buying power and I only pay .004 a share to trade. That fee will go down as I trade more. I can see where the veteran traders might look down on the whole prop process but I think it's a great way for a newer trader to get started.
Your perception is wrong I know several prop traders with account sizes million $ or more especially after 08-09. Most criticizing props on this site either has not been with a reputable prop firm or is a habitual complainer or they have joined a prop without doing any homework that is not suitable to their trading style. There are several advantages with being a prop 1) leverage 2) cost of trading 3) platform 4) training ( if u are a new trader) 5) osmosis i.e. no trader can be profitable 100% of the time, in a good prop firm you are exposed to ideas etc..
after you passed S7, that means you are a professional? not offensive question, since I concern about this. I have other accounts, when i open them, they asked questions such as professional or non-professional. they will have different market data subscriptuion rate. and rugulation issue? I am kind to seek a prop trading firm. anorther question is: they seems they just asked 2k deposit, how much money they will give you to trade? 99.9% payout is real? I kind of feel it is fishy or suspect? do they pay you profit regularly? monthly, bi-weekly? I once inquired CTG, but hesistate to join because of those concerns. I do appreciate your reply.
I do not know anything about GTC, but with $2k account you do not have a chance to be successful, you will lose the $2k before you even realize what has happened unless you have prior trading experience. Definition of professional varies 1) if you trade even on TD Ameritarde or another retail brokerage and you do it full time, consider your trading as your profession and declare it as such on your taxes than you are a professional, IRS will accept you as such 2) You pass S7 or S56 ( S7 preferably ) trade with a prop firm i.e. be a master limited partner than SEC will consider you as trading professional, at least that is my inference. Best of luck!
yes, 99.9% payout is outlawed by the CBSX (which CTG is part of) and essentially FINRA as well for prop traders. im not sure what compliance officer would allow this. and any firm accepting 2,000 down is totally bottom fishing for traders and reeks of desperation. buyer beware.
It's the Series 56. And it's a prop trader exam. These guys are on the up and up. You have to sign an agreement that spells out the payout. They are legally obligated to pay out the profits as outlined in your agreement. But you have to become a profitable trader at first.
out of curiosity...does anyone trade at the Chicago office. I see it listed on CTG's website. But I believe it may be JC trading? All sub branches are owned by WTS ultimately, so I believe technically they are the same thing. Anyway, just wondering if anyone is there/used to be there and how they felt about it.