HLV Trading

Discussion in 'Prop Firms' started by joeyc, Sep 12, 2005.

  1. joeyc


    Anyone have any info on this group, ie commissions...technology etc?
  2. The platform is OMNI PRO, you can download a demo from there site http://hlvcapital.com/

    I believe they are set up at like a 90 percent pay out rate, and have either a per share com. or a per trade.. the per trade is 2 dollars i believe the per share is based on vol.

    The thing that is very good with these guys is that they are "no" ser 7 REQ. and the inital investment is only 5000.00 altho from the web site you need to keep above a 1000.00 to trade. i Hope that helps all of what i have said is pretty much on the site.

  3. so they will keep 10 % HMmmm:mad:

    If they charge commission and monthly platform fee then why they will keep 10%.?:confused:
  4. I went to your office it is preety decent small office
    saw pll trading
    they are located in midtown manhattan
    they offered me 0.0059 to start out with and later they will take care of the rates as i do volume.
    but i was still looking around if there is any better deal out there
    they take %10 of your profit and they give you a 1099 end of the year
  5. The tax implications with a 1099 are more complicated than getting k-1. I am not sure what they (for 1099) exactly are, but I would learn all I could about 1099 trading income and how to treat it, remember that you ahve to pay double self-employment tax and fica (the part that your employer would normally pay, you pay it twice).

    Its cool that you don't need a license, however, weight the two months it would take to get it, and not pay the 10%, in the LONG TERM.

    Having said that, I bet every single number (payout, leverage, fees) is completely negotiable, when you are profitable, the firm knows the risk of you using their capital.

    The problem with this is, what profitable trader would give them 10% of the profits, when the trader assumes all of the risk. If they tell you the leverage is a risk, thats a bunch of crap, because they monitor the stuff tick by tick, especially for a new account. They have the ability to add BP or cut you off with a few keystrokes.

    So my take on HLV is that mostly non profitable traders trade there. It takes a long long time to build an account when you are paying commissions, getting only 10:1, and then getting lubed and filled on the back end by them taking 10%.

    If you have record of profit, then tell them to forget taking 10%, unless they reduce their fees in other areas.

    Okay...again my super opinionated 2 cents.
  6. yes a 1099 sucks.thats an extra 12% or so tax on the first 90k or so. advantage is you can do a retirment plan and write your health ins off sincew you're paying social security. this game is tough enough without giving any profit away but thats the price under capitialized traders pay
  7. “We’re not doing anything different than what a prop firm is going to require from an individual coming in off the street,” Vaccaro (THE V OF HLV) says. “However, we are not an LLC (Limited Liability Company), and the reason is this — when you buy into an LLC, you are buying a class of shares. That’s fine, but when you start soliciting like we are, you’re basically advertising to the general public. If you do that, we were concerned it might become an offering. And if it becomes an offering, you have private placement issues, all kinds of SEC regulations, and we didn’t want to go up that road.”

  8. A friend of mine works in there, not only do they keep 10% of your profits, I heard they only pay you once a months, and they don't ever pay you on time. And when they do pay you, you have to have your fingers crossed that the check won't bounce!
  9. michigan1


    Has your friend ever been stiffed on a check? I have been looking at HLV as a good start for my trading career. If I put in $5k they will give me some leverage, low commisions. That seems fine if they are not bouncing checks. Anyone else have probs? Thanks for the input.
  10. I would have to pencil it out. What is the increased leverage buying you? Additional Taxes....10% of you profit...just to get around the PDT rule perhaps...?

    Michael B.

    #10     Sep 15, 2005