I just recently signed-up with Innovative Traders up in Redmond, Washington, and I can honestly say that they have totally delivered as promised. They bundle traders together and approach brokers to cut commission deals. Every aspect of signing-up with them was covered in an extremely thorough and professional manner. They have never failed to "follow-up" on any of my questions or requests, and have given me unbelievable service. I'm using the Gr8trade Pro-Trader electronic trading platform and am quite happy with it and all of the flexibility it allows for. As for me, I'm a former stock-index futures floor trader that traded back on the C.E.C. in #4 World Trade Center for 10 years. I've been trading financial futures, equities, equity-options and commodities since 1981. I am Series 7 and 3 licensed. In a nutshell, I'm quite happy with the guys at Innovative Traders, and I really don't see myself going anywhere else.
I've been a client of theirs for about 3 months, and they have lived up to all promises. My startup capital was modest, nowhere near the $25k some users here have been claiming. To me, the consultation fee was worth it to have this kind of leverage on capital and commission structure, plus the kind of service they're offering. The firm is new to the scene, which may have put some people off. The flip side is the flexibility they offer.
how can trading someone else's money not requiredd you to be licensed. can anyone give me some input on this. thanks
so what was the consensus on this firm? I read the thread and it seems like the verdict is still out. Has anyone filled out their trader evaluation form and gotten a proposal that was good or that they accepted, or are they just making money on consulting for traders to lazy to call every firm themselves. Anyone else have an experience with them? Thanks.
wasnt' that our Beaupurt / Beauburt and a few other user names guy who was promoting that site? Robert Tharp
Again, I can vouch that these guys are totally professional and for REAL. They bundle traders together and then negotiate a commission deal with a B/D, and with the support of a capital group, will allow you 10:1 leverage intra-day and 4:1 leverage overnight. Commissions start out at 1.3 cents per share if you trade under 10,000 shares per day, and can "tier" lower depending on your volume. The B/D sets you up with an ECN trading platform, such as Real-Tic for $250 per month, FSG Pro-Active for $150 per month, or Globe-Tek for $99.00 per month, your choice. These fees are then rebated back to you by the B/D based on how many tickets you produce over the course of the month. If you think that you can get just as good of a "deal" on your own, then go for it. But Innovative has some pretty good relationships with various B/D's and capital groups that allow someone with as little as $10,000 of trading capital to get involved in the markets. Think of them as a "travel" agent that gets a consulting fee off of getting you the best deal on your travel accomodations for a vacation, with your personal needs and interests of primary importance.
They're a middleman, and middlemen take a slice out of what would otherwise be yours. If you do any volume at all you don't need these guys.
they advertise looking for account managers to trade funded accounts, but that is far from what they are interested in. It is a classic bait and switch technique from marketing 101. They are scum for doing what they do. Dirtbags is the name that comes to mind and possibly the biggest carps in the business.
And, I really don't see anything in Innovative's advertising on Monster.Com that would lead one to believe that they are not in the business of helping "inexperienced" traders gain ACCESS to the daytrading environment. Nowhere in their ads is there any mention of "account managers" as you say . . . and if this was in fact true, then why would they offer an experienced trader "courses in technical analysis, pattern recognition, etc."??? Seriously, I find it rather bizarre that there is so much vindictive sentiment on some of these message boards, which is obviously coming from competitors. . . Moreover, how many firms do you know of in this business that are willing to take on a "new" and rather "unproven" trader at .013 per share and allow him 10:1 leverage from the start? Certainly not Speer, Leeds & Kellogg. Nor Merrill, nor Bear Stearns or anybody else that comes to mind! Give it a rest.
for my official offer. I have gotten some from them, and when I dont like something in there and I have asked them, they always have something else to offer, so they are switching it up. they definitely have some good contacts and have been customer focused but the proof is in the puddin. which I haven't had any of yet. It's not easy to find a place that will let you start with 10k at all, not from what I have seen. I am also working with ETG and am waiting for an official offer from them, even tho they have a terrible rep on this site, so far they have seemed most knowledgeable about the type of trading I expect to do, and they seem to have a decent setup as well. HEY WAGGIE! how many other places did you call before settling on them?? It just seems $1000 up front is a big pill to swallow when starting out with only 10k. you are immediately at a 10% loss on your account, not to mention the monthly fee... I would be interested to know because I have been honest with them from the start that I am working with other firms, and told them I hope their deal is the best, otherwise I will not be choosing them. funny how even tho they know that, and I have had to ask for better pricing from them and have gotten that. You would think that when they know they are competing they would make their best offer up front. anyway, still waiting for that new official offer.........still have not paid a cent....