Hi, I am currently looking for a new prop firm to join, here is my criteria :- :- I would like to trade my own capital :- a firm that requires no license to trade your own capital :- must be reputable and stable I was researching Sharktraders and CY group, unfortunately sharktraders don't accept U.S clients, and CY group's websites seem sketchy, and on top of that they have non-refundable 5000$ Fee. Thanks in advance.
Since you are in the USA, it is my expectation that #2 is required unless they are not a BD. In that situation you will have trouble meeting #3.
@James87 when all these regulations came about, I did almost everything I could to fulfill the criteria you have mentioned. As I researched my options, I figured that it is easier to just get your license (#2), which opens up your doors to some very stable firms (#3), with the advantage of using their money (#1). You are a trader (assuming). Your business is solely to trade; everything else is a distraction which takes you away from the task at hand. Wishing you the best.
If you want "reputable" and "stable" then you'll need the license. Here's a list of prop firms which require a license to trade, in no particular order. You can research their financials by pulling up the latest public "focus report" from the SEC link below. Just put the name in the left side "Company name" field, and you'll see the .pdf of each firm's 2016 focus report filing for the 2015 year. The key items are the Net Capital and Member's Equity. The last time I checked, these firms had net capital by the millions of dollars in excess of what's required by SEC Rule 15c3-1. As always, do your own due diligence. G2 Trading, LLC Bright Trading, LLC Quasar Trading, LLC Avatar Securities, LLC Hold Brothers Capital, LLC Chimera Securities, LLC T3 Trading, LLC https://www.sec.gov/search/search.htm
Without an audited trading record, and license, you'll be extremely hard pressed to find one. Firms like T3 require you to basically trade your own money, and sell you on their trading strategy.
James, I know one of your criteria is no license, but if you decide that you want to trade with an SEC registered BD then please let me know and I can get you more information about T3 Trading, the T3 Live Virtual Trading Floor, and the T3 Live 30 Day Trading Course. Please PM me or email me at jeffrey.goldman at t3trading.com. Thank You, Jeff
Based on your criteria there is simply only one answer. "none". Investigate trading Forex with a properly registered USA broker, i.e. Forex.com. Interactive Brokers, Oanda, FXCM. Best of luck and trading to you. Feel free to stay in touch. Regards, HG https://www.linkedin.com/in/whenperformancecounts
What does this in your profile mean: "• 20 years of successful B2B presentation and sale closing skills including to C+ executives" What is meant by "sale closing skills", and what/who are "C+ executives"? I guess it has nothing to do with C++, ie. the computer programming language
BtoB stands for: Business to business; C+ stands for: CEO's, President, Vice President, Chief Financial Officer, Controller, Chief Operating Officer, etc, etc.