Deal for New trader

Discussion in 'Prop Firms' started by Purple Barney, Jul 4, 2007.

  1. What is a good deal for a NEW trader? I have not traded prop before and this is the deal a reputable firm gave me, is it fair?

    A choice of

    0.007 cents
    $2500 deposit
    $65/month data feed/software
    90% payout


    0.005 cents
    $5000 deposit
    $440/month data feed/software
    99% payout

    Remember this is for a brand new trader who is not expected to do alot of volume. And I am able to receive rebates if I do above a certain volume.
  2. And to clarify, I am not asking which one of the two I should take. I am wondering if either of them is fair compared to other deals from different firms in my same situation. As for the two deals, I would definitely take the first deal at first until my volume is higher. Thanks.
  3. jtnet


    having any kind of monthly FEE is huge burden IMHO for any new trader
  4. I agree, especially if i chose the $440 option, which I wont at first. However I was just wondering if this type of deal was common/comparable with other firms, or just normal deals for a new trader. Is it a good, bad or just standard deal?
  5. in my opinion, the first deal is better--the 440.00 will kill you if your losing at first. once you learn the ropes, you'll write your own ticket.

    regards, surf
  6. jtnet


    some places offer similar commissions and no monthly fees and 100% payouts

    and ive seen places that offer less and you have to pay more than those 2 deals.
  7. Again, guys, I know the first deal is better for a beginner. I guess I worded my question wrong, I wasn't actually asking which of the two I should take. Both these deals are from the same firm offering me a choice. My question was how these deals stack up against the "norm", or other firms. What I plan to do is take the first deal in the beginning, and after my volume goes up in a few months I will consider the second. I just dont know if either of these deals is a "good" deal.
  8. jazzsax


    I think it depends on the firm and the payout...
  9. jtnet


    go for 0$ monthly fee for software and 100% payouts and minimal $ in account.
  10. jtnet,

    So i guess you would consider mine middle of the pack? Thats ok for me I guess. A "really good deal" isn't the most important thing to me right now, since I am just beginning, as long as I'm not being ripped off. Which I doubt they would since they are reputable. After I become more familiar, and become profitable(when/if) I will then look for really good deals. Was just wondering how this deal compares to the norm, and as long as its not TOO bad I am fine with it.

    Thanks for the replies everyone.
    #10     Jul 4, 2007