Actually both. I do have have some money since I have been working as a consultant for a few years. Of course if no deposit that would be good, but then I have to quit my job. Ideally, I can deposit a few thousands to start with, and trade remotely and parttime, with a reasonable overnight margin like 4:1. Then after a few months of good performance, I will either increase my capital size or can confidently quit my job and do it fulltime.
Have you considered this organization? I haven't seen anyone post anything about them on this board. Does anyone have any insight into this firm? http://www.etgtrade.com/
ETG has a big office in Atlanta and a big training program there. They are a class organization that purposely stays under the radar so to speak. They just doubled in size by buying ProTrader. Bob K just retired as CEO and the new CEO is a guy named Jeff who used to be my office manager in Northbrook Ill many years ago. The thing I like about Jeff and ETG was that they were true to their word and Jeff was very open and communicated with us. Another guy I started with there many years ago just rejoined the firm after trading elsewhere. He must have gone back for the atmosphere as his payout went down and his rates went up. Their prices are not the lowest (but reasonable) and their payout is not the highest, but they are the cleanest shop in this space. They seem to cater to the high end trader and they also try to develop their own traders. They seem to try to avoid the midlle ground trader and are not looking for publicity. They just seem to be quietly and agressively growing the firm. While the other owners are looking to sell, they are in acquisition mode as far as I can tell. Obviously I am biased as I used to trade there and they gave me my first break. I now trade as a customer elsewhere because I didn't want a partner anymore and did not need their capital to meet my trading margins. I left after my contract was up. I occasionally speak to guys I know there.
What is ETG charging their new traders these days (is it still 1.5 cents per share)?? And what is their payout? Any changes?
As far as I know, the top rate anybody pays there is $0.01 per share all inclusive of ECNs etc. They get retroactive rebates based on volume. Payout is 75-80-85% based on tiers. Not sure where the break points are. The deal for a trainee may be different.
what is there training program like? how big is the atl firm? what is the structure of the payouts? if anybody has any specifics, that would be great.