Generic

I was interested in hearing what kinds of deals people have heard Generic is offering -- capital down vs. no capital down and things like like payout(monthly and year-end), commission and bullets ?? thanks

 

Also, does anyone know anything about their scalping platform - lava ??

 

Lava is not the best for scalping but is extremely stable.

 

Don't know the Generic deals, but I know lava. Watcher and Hammer are both better. It's ok, but inferior to either of those two platforms, IMO.

Lava is installed on a lot of institutional desks, not their own technology.

 

I had looked at it and used it and honestly I was not that impressed. Definetly not for scalping.

 

Is Generic a professional or proprietary firm?

nitro

 

hi nitro,

i'm sorry but can you be more specific? we open retail accounts for those who do not wish to be licensed and we also have licensed traders who put up their own equity and we also back novice traders. the deals accompanying the different accounts will be adjusted accordingly.

 

Professional Firms = Bright, Echo, etc, i.e., you put up your own money and payout is 100%

Proprietary Firms = Worldco, ETG, Shoenfeld, i.e., they put up the money, you get a percentage

Retail = Interactive Brokers, etc, e.g., SIPC protection, your own money, 100% payout.

Obviously, there are some that do 2 of the 3 above. AFAIK, there isn't a firm that can do all three.

nitro

 

to be competive with the remaining firms out there

as far as commissions and all fees go ?

thanks

 

Nitro, I think Green tree is making advances in doing all 3. I think this niche of the market will evolve rapidly in the coming months, years. Just a fyi.