Generic screwed me!

Discussion in 'Prop Firms' started by swinger, Feb 16, 2002.

  1. swinger


    So I agreed to start my trading career with Generic. I got my Series 7 study materials, and I have been hitting the books hardcore for the last two weeks. And then I receive a phone call today: "Umm, we have a problem - you can't trade with us because we aren't registered to do business in Pennsylvania."
    Isn't it so nice of them to tell me now? After I have been psyching myself up to finally start trading professionally... ugh. So it's either I move to New Jersey or find a firm that is registered in PA.

    But even if it were easy for me to move to NJ (but I can't really afford it), would I really want to work for this company? They didn't know enough about their own damn business so as to save me the trouble of hauling myself up there for an interview, and then hiring me, and then spending $265 on study materials, and spending 2 weeks studying several hours per day and stressing about the Big Bad Test.

    Funny thing is, I don't recall being apologized to for this. Isn't that pathetic?

    So, I've asked this question in a previous thread, but I will try it again: If you know about a prop firm in the Philadelphia area, or one in NJ that IS registered to do business in PA, please let me know! I know about Lieber and Weissman ( a professional, not proprietary firm), but they require a much larger deposit that I would rather not start with. I also know about Navillus, but I don't think they often sponsor traders for the 7. I will call them on Tuesday to find out for sure though. If any of you out there in elitetrader land has any advice, please pass it along!


    P.S. sorry for the rant, i needed to vent...
  2. We do not register in Pa because of their weird regulations, etc. They are trying to keep their exchange in business. We have opened in Cherry Hill, with one of the Philly Exchange directors as our manager...and our Compliance Officer is there as well (she was a big whig at the Philly Exchange before joining us).. I'm not recruiting, but we are there if you want to speak to us. Cherry Hill is pretty close to Philadelphia.
  3. Aries

    Aries Guest

    I thought Generic's headquarter is located in Phily. Isn't that in PA? So why are they not registered in PA? I must be missing something here.
    To Don, where in Cherry Hill is Generic located? I'm asking because I'm originally from that area. Is it a prop branch? How big is it and are they currently looking for traders? Thank you.
  4. Lieber & Weissman is the only firm that I know of that has an office in PA. It is in Berwyn and they are pretty good people. I used to work for them and Gene Weissman is pretty knowledgeable about how this business works. I believe they have links or advertisements here. Call them
  5. swinger


    Thanks Toptrader. I have been to the Lieber office, and I would trade with them if I had the money to put up. But I don't, and I'll be working some other job to save up the money. When I have saved enough, I may go trade there.