Equities Prop for U.S Citizen without series 57

Discussion in 'Prop Firms' started by elguapo, Sep 14, 2021 at 8:31 PM.

  1. elguapo


    Just wondering if these exist anymore. My experience with prop was with a variety of prop, {chimera, hlv, epiphany, paramount, golden market, WTS, CFT financials, ect ect) Many of which were unregistered bds.

    If anyone out there knows of a place, I'd love to know. If i'm being contacted by a firm directly, I have profitable sheets for the year,, videos of every day, ect, can contribute 100k, roughly 5 million shares a months, 10 if its busy. I currently use a retail account, first time ever doing that, and its fine, but could probably do better. also have passed SIE, but did not find a deal that made sense, hence no reason to pursue 57.
  2. elguapo


    so of course not.

    Here is a good example of a failed deal. Unlike futures prop, which honestly makes no sense to me now { i'm not talking about what I see currently, these "tryouts", but back in the day when a simple IOM seat was 10x what it is now, a horrible 2k desk fee and being backed made sense as an idiot noob with no capital or experience/ability to survive}

    That would be a successful deal 10 - 20 years ago, a 50 50 split on horrible fees, maybe even a draw with marked up coms. By successful I mean it actually would exists, would happen. You obviously don't see that now for a variety of reasons. ( execution inefficiency, training a monkey to hit green when they see green/{ARB lol }...the market obviously became more efficient. { think spreading the NYSE specialist....vs what you see now.}

    The problem I find now, simply is I'll ask a very simple question when speaking to the few regulated prop firms in the U.S.

    "Is this going to be profitable for you?"

    I'll give very specific stats, the most important being I make on average .01 maybe .02 per. So if I get a .004 deal, that would be almost 40 percent to 20 percent of my gross profit, forget exchange fees and nscc, sec, TAF. ect.

    Do you people exist? { I know you do, but every firm I encounter cannot take U.S citizens, firms that have deals I'm used to .0002, 80/20)

    I don't even care about the security of my "deposit"/first loss. I've been with 5 firms that for one reason or another evaporated overnight with my deposit, I could care less.

    I'm honestly not asking for much. I'll give a simple example

    Total gain/loss: $3562.26 Largest gain: $2028.35 (show)
    Average daily gain/loss: $3562.26 Largest loss: $-810.51 (show)
    Average daily volume: 256984 Average per-share gain/loss: $0.03

    That's today. so if you just take a .004 on volume, its roughly 1k out of my total, so i end up with 2.5. but thats assuming no split lol.

    Right now i'm just using a trash retail " no commission broker" . When I worked it out, I'm basically paying .0015 per share. { try taking liquidity from the offer and see your non displayed post show up on the bid only after the price has upticked, slided. } { same as having an ARCA MPL ALO order { arca mid, add liq only }

    Can any of you people on this board help? This industry is pure trash now. I used to come here to know more about the industry. Knowledge aside, i don't doubt there are many people that know more from a technical/knowledge based business} but in terms of finding a deal, its just trash.
  3. elguapo


    aka, this industry, its consolidated enough to the point/efficient, that message boards like this have no review on prop firms. I'll give a simple example, leaning on size. That would of cost an unprofitable amount of money to have a programmer incorrectly work on it, while simultaneously figuring it out only after that edge/free money was gone. There is no free money in the market now, hence you don't hire idiots, even someone profitable like me, that would produce enough volume to cover 20\30 percent of a clearing arrangement with some fuck like ETC, even thats not enough. Even with a "deposit". 5k, 25k, who care, that used to be normal. Even with 100k, it doesn't matter. The irony is that I don't even need the leverage, I'm just trying to not have my platform go out every month { And I'm so nice lol, i'm talking 1hr delays on a market order....}
  4. elguapo


    The other reason I probably don't see unregulated sub llc's anymore, outside of the fact that it would be frowned upon/regulated, is from volume as a revenue center. If your business is built on marking up, how many sheep can you fleece if your entire business model was decimated by:

    PFOF {robinhood }
    Lack of volume, { due to regulation, less button hitters }

    a.k.a where is the money coming from? Its what makes me wonder how places like swift/the new swift, "trader tv live." are able to survive. Maybe they aren't scum bags.
  5. traderjo


    I don't even care about the security of my "deposit"/first loss. I've been with 5 firms that for one reason or another evaporated overnight with my deposit, I could care less.