Has Anyone Traded with Innovative Trading?

Discussion in 'Prop Firms' started by israelross, Jun 12, 2002.

  1. Just want to know what your experiences were. I am considering employment there.
  2. Never heard of them.
  3. Sounds like one of those sub llc's that Uncle Don is always warning about...
  4. I remember when someone was trying to hype up the company a few months ago, but everyone just ripped on the site, the site looked like it was done on FrontPage, which is alright, but whoever designed the site didn't know what was going on.

    From what I've heard and seen on Innovative, run away. Did you see the commission rate, looks like they do it on a per trade basis.. which is not the type of commission you want starting out. And the per ticket prices aren't even competitive with other firms that are willing to do per ticket.

    Another thing someone mentioned was that they talked with them (do a search on Innovative, might have got removed though) and they don't require licensing, but they still lend you money. With the LLC structure, and the risks involved with that, I wouldn't want my money handled by any firm that backs unlicensed traders, not that licensing means that the risk isn't there, but at least they put some effort into it.

    I'm also not a big fan charging to get trained. But those who can't teach... except for the rare exceptions. Don seems to be making some money, and I've known a few others, but for the most part people who I have met are training because they don't make enough trading or they blew up there account.

    Seems like they make you put up your own money and there are a lot of better places to go.