Has anyone heard of this firm or traded there? Is anyone currently trading there? They're based out of NY. Nothing came up on an "Elitetrader Search". Has this company asked to be removed from this site (ala ETG)?? Don or Gene, if you have any knowledge of this firm, your comments would be appreciated. Thank you.
I've heard of this firm, they're located in Flushing New York, I think they pay their traders $5.15 an hour and 10% of profits while charging them ultra high commissions. Please verify this info, this information is second hand. If you know Flushing you can get an idea of who their traders are. The owners exploit their "workers".
Thanks Big J. That sounds like the worst game in town. $5.15 an hour is an obvious insult to anyone, (even if you're working at Buger King). If this is true, it sounds like another churn 'em and burn 'em prop firm. Ax
I haven't heard of them. You may want to ask: Who they are "franchised" with? Who they clear through? Are they a BD or and IB (Broker Dealer or an Introducing Broker). Oh yeah, and which exchange they are members of (if they are). They may be ok, I just haven't heard of them.
I have no idea where you got your info from - I currently work there and they have the best commissions in town (how about 0) 100% profit rate (everyone is postive).
i know someone who use to trade there. it's just another nasdaq scalping company. trader gets anywhere from .05 to .09 pennies a share plus ecn fee. payout is about 80-95% i think (not sure). from what i understand the owner is really risk adverse and would not tolerate any losses bigger than .10 the best way to find out is call them up and check the office yourself.
Wow! This thread is so old I forgot I started it! WCOM, what office are you trading at? It would be of great assistance if you could get more specific about costs, payout, training, etc. Are they hiring? ax