I could not get reply from genesis? what is their commissions range and what is software cost, can someone help tell. I live outside U.S.
Are there any advantages to starting out with a firm such as Cy Group or one of the other Genesis sub-LLCs while studying for your Series 7 and then moving to Genesis itself as a remote prop trader? Such as in structuring your business, health ins, bene's you structure into your own business, etc. I have sent emails about this with no response...perhaps someone on this forum might have perspective on this they could share? Also, if anyone here actually trades with Cy Group I would appreciate their insight. I have used the search function here and have been to jmowery's website of prop firms....I am in the process of researching how best to do this for a living. I am profitable daytrading.
I am working with a firm that is sub llc from Genesis. Whats the difference between working with a sub llc and directly with genesis ? here you go Pros: 1- no license is needed 2- I think you can get more leverage if you are good with less formal requirement cons: The probability of a sub llc going bust is much higher than Genesis going bust although in both cases your money is not insured. But in general I do recommend using Laser , its a great software in terms of speed of execution.
You're absolutely right, benefits from a sub llc is no license is needed, leverage, and also the firm's own support team (assuming its better than genesis). Each llc will have its own personality and professionalism. The downside is you are risking a sub llc bust which is more likely than genesis doing so. One thing that sticks out with Cy Group is they have an online withdrawal form. visit their website and u fill it out, and 3 days later a check in the mail for the amount i requested. Downside is they are new.
i use cy group, used them for a while now. they are http://www.cygrouponline.com i have to say they exceeded my expectations.