Anyone have information or insight on the HLV branch out of West Palm? I am looking to break into the business, and they are the only gig in town that offers trading without taking the 7, as well as without having to put up any of your own money. Granted, I fully understand the realities of joining a firm that does not require a license and allows you to trade only the firms money. You are put in position with very little leverage. However, I wanted to get any info I can on this. I know it will take time to get off the ground, but is there real money to be made under these circumstances? Any info will help.... Thanks in advance.....
have you read all the other threads lately on HLV??????....if it smells like fish and looks like fish.....
I have read the other threads, and I know....it doesn't sound to good...But the threads do say that the training is "pretty good" and since I am not looking to put up any money initially, the down side sounds pretty limited to me, assuming that I would be able to get myself up and going pretty well after a few months or so. To me, just entering the industry, that would be a better initial situation than going with a more reputable firm, but having to pony up 5k or more, then getting whacked immediately because you are new to the biz and need some experience under your belt.... If I was looking to use a sponsor firm with my own money, the chances are I would be looking somewhere else (Echo Trade is in Boca Raton) other than HLV after reading all of these posts. However, is there another option for me in South FL to get into the business without having to put up any $ initially? Also, have you heard of any beginnig traders going the HLV route, only trading the firms money, and earning pretty decent numbers? Any input will help... Thanks again.......
ladavis23 You need to be realistic and go to a company that will allow you to grow and build your trading business. HLV has screwed so many people might as well donate your 5k to cancer research because you will never see it again. So please be smart and look elsewhere even if that includes getting a series 7 otherwise you will be facing the following. Late or checks that never arrive Trader reports not updated Software problems etc... the list goes on. If your in this business for the long haul you need to find yourseld a serious company to trade with. If you are desperate and plan on loosing all your money then I would say HLV can help with that.
I understand what you are saying...no doubt. However, the difference is I do not have to put up 5k to start trading. There is zero upfront money, only $595 for training which I am told you get back $300 upon completion. (Who knows if that is true or not) I would only be trading the firms capital. Having said that, and taking into consideration all of the alleged faults that exist with this company, I think that it could be worth at least starting out with them, just by learning the business and beginnig my trading career without the finial pressure of being thrown to the wolfs with your own 5k. Assuming I will not sign anything, I need to learn the business and get a little experience under my belt. I would be much more comfortable doing that without using my own money at first. So, considering my choices are limited in FL for Prop Firms that allow you to only trade company capital, and I would be gaining trading experience, as well as creating the opportunity to earn a little income monthly (I am realistic about the realities of what I can truly make in this situation, assuming I have some mild success which I do anticipate), I think that there is little downside, with a bigger upside here. What do I really have to loose if my money is not involved? Even if I don't see any of the training money back, I am confident that I will leave the 5 day class with a great deal more of knowledge of the business then I am going into it. Am I making sense here? What are your thoughts? Thanks....
All I have to tell you is that you are making the right decision. That's what I've done before, and it worked out pretty well for me, though I do think HLV could be one of the worst in the business.
hlv has the beginnings of a powerhouse.......its still a young firm.....in time it will grow and grow....remember the firm is non seris 7 witch is great because it means your not regulated by the nasd nyse and many other regulatory agencies.....thats a huge advantage to a pro over the long run........real pros are not regulated .....they dont want to pay the eventual legal bills associated with regulation.... they offer big leverage to their traders.....but the firm only employs 4 to 1 for itself..........wheras seris 7 firms use at least 7 to 1 .......witch means at 4 to 1 the total firms capital employs less risk thus the capital is safer eventually at hlv traders may have the possibility of trading ipos and if the market continues to heat up no seris seven firm could match that single advantage if seris seven firms really wanted their traders to make money they would create customer groups structured exactly like hlv hlv is the new hybrid....its set up like a fast money hedge fund ......enjoy.....m
the tax advantages of trading and earning money in florida are huge over the long run ........massive for large traders......do the math almost every great trader will end up on floridas east coast...who can resist palm beach ........m