firstnatcorp prop shop?

Discussion in 'Prop Firms' started by marcus1, Aug 7, 2006.

  1. marcus1


    They seem to have great rates.

    One thing that bothers me is they have a links page that provides a link to a penny stock message board:

    ...which makes me question the firm. Is this a justified concern or am I missing something?

    Plus there is a link to a website called and that provides reviews to penny stocks (OTCBB) with specific recommendations, such as the following:

    "KLGE - 260% Growth in Sales

    Nice news after the bell Wednesday. The chart shows it's clearly on the bottom and has good potential for big gains from these levels."

    Is this legal or even ethical? I'm just concerned I might put money in this prop firm and they are encouraging their traders to trade large positions in highly illiquid securities that might be of greater risk.

    Again am I wrong in assuming this?

    Moderators please don't delete this thread as it is a serious concern that I feel is important to the world of prop trading and should be addressed.
  2. I trade there, no requirement to do pennies.

    I did state in my other thread that I pay 68 cents per-ticket at 60% payout for first 2 months, at 100 to 1 leverage.

    I'm currently in the process of transforming my website where I have prop firms listed (incase you got it off of there), into a flash website so I can modify it easier without requiring software.

    But, as usual, best to contact the firm directly for your information, I'd suggest Vincent as he is a trader and co-owner of the firm.
  3. marcus1


    That seems like a good deal starting out. You aren't worried though that the firm website is linking to sites that pump penny stocks?
  4. Well, Vincent has explained how he trades, he is a trader himself, which is very nice... very very nice.

    I know more about prop firms just from talking to their owners than ever, and I pretty much have done my research, on a lot of firms and was happy to join, and I know when I can hold a conversation with a prop firm owner for several hours even after the market closes to discuss strategies and how prop firms work and how the markets work (like level 2, he knows more than I do), it's a great feeling, so I'm happy.

    So it's nice to know more about how prop firms work and have a firm that wants it's traders to succeed, which was what I was looking for, and the deal is insanely nice IMO, and can't wait until I sign a higher payout.

    I don't know about OTC stocks, and don't know of anyone that trades them at the firm. I know Vincent trades stocks like F, YHOO, TWX, just to name a few.

    I'm happy thus far, nothing negative to report.

    But, best to contact the firms directly to get information. So I'm happy, if anyone else trades with them, I'm sure they will throw in their 2 cents, but I'm good.
  5. marcus1


    Well, it sounds like an interesting deal. You may want to call the NASD to confirm that nothing illegal is going on though in regards to the linked websites. Are they in compliance? Are you comfortable with the affiliation?

    It's against NASD policies to use promissory language in research. You cannot say, "the chart shows it's clearly on the bottom."

    Any firm that links to a website that has information like this on it could be held liable if the NASD/SEC audits the operation and sees front running or any form of pump and dump going on based on the firms blotter. They could fine the firm, seize the assets or any gains made and shut the operation down, holding everyone affiliated liable.

    I'm not stating the firm is doing this, but I would encourage the firm to remove those links and any affiliation with those sites.

    Those links might be completely 3rd party and have nothing to do with the firm. It's possible they are provided only as a convenience to the traders at the firm.

    Honestly I don't know how the NASD/SEC would view it without contacting them and asking them about it. Perhaps they wouldn't care and It's not a big deal? Perhaps it is?

    What does everyone else here think? Am I missing something here?
  6. Hi Guys ,

    The website link have been retired. these link have been put there at the construction of the website to add more link as possible. Now the link are retired. thank you to have tell me about that link.

  7. Surdo


    Who is the clearing firm?
    Small piece of information I did not see on your "website".
  8. I have send you a PM
  9. By the way, if anybody of you guys have questions or only want to talk about trading , im always disponible for that when the market is close just send me an email and we will talk by msn or any other way.

    Have a good trading week.

  10. Pimpy boy

    Pimpy boy

    I confirm I trade at Vinny office and nothing negative to report , i have worked at 2 firm before firstnat and for sure is my best choice. if you have question you can PM me .
    #10     Aug 16, 2006