I interviewed w/ Hold Bros. in their Jersey City office and they said they were interested in hiring me. I walked into the interview w/ my 7 and 66 already so I figured that was a good thing. I did a search on Hold Brothers on here but it seems like someone asks a question about the firm and then someone makes a statement about something and people get all off track about commenting on the original post! Could someone tell me: 1. Reputation/their opinion on the company 2. What are the normal rates/deals that they give a trader w/ no experience and no capital (I'm fully aware its not going to be a very good one but still) 3. Positive/negative experiences w/ the company 4. Their training methods
hold brothers has very low rates (as low as any true prop firm basically), but of course you get what you pay for. i know a lot of people who've worked there and haven't heard any horror stories or much of anything else, so i think i've summed it up pretty well. this might not be the best place for someone just starting out with trading (i don't think they have the best training programs), but then again if you are starting out now you might consider another career choice if you can't get a position with a real company (non-daytrading company). if you insist on daytrading just try to get a rate of .5c/share or lower somewhere that has traders who you have VERIFIED to be CONSISTENTLY NET profitable (NET OF COMMISSIONS). follow that advice and maybe you won't feel like jumping off a bridge a year from now.
The horror stories I heard came from a group called Caliber, though I'm not sure which office they're in. A bit of advice: it's usually not wise to come into a contract with no capital down, as you will likely be sweatshopped to generate commissions rather than taught to trade. This model has been around for a while. At most firms you get a better deal with capital, and you trade a bit more conservatively. For most people it's better to work first at a job while reading about trading, learning about how to recognize patterns, size positions according to a fixed risk %, etc. Then give it a shot with some savings, or perhaps attempt retail trading futures.