Can you guys give me some info on Hold Brothers? What is the setup with regard to salary, training, sposoring, etc.? I submitted my resume a bit ago and received a call yesterday but was unable to take it. What's the lowdown? Thanks
I could use some info on this as well. Did a search on the board only to come up with lots of negativity about the firm. Some feedback was positive. They did not go belly up as some of you were predicting in May, they are still in business. Whats the real scoop? Anybody still works there?
I work there. The firm has done an excellent job getting their finances in order. They just went self clearing, which speaks highly of their financial stability. Now that they've got their costs in order, they have begun expanding again. Let me know what else you want to know, and I'll pass along the info to you. If you prefer, you can PM me.
not a good place to work, i used to work there and know some who are still there. they make you sign a contract, which locks you in for 2 years. also, they lack many good traders, so learning to trade there will be tough. management is a complete joke. the Holds are generally not easy to deal with.
as far as the info that I have come across (which is pretty reliable), hold is ok when times are good. if you get in trouble and times are not so good anymore, you can't count on them. they have been known to leave you hanging when you don't do so well.
Last year they lost most of their really good traders to Andover in Hoboken. Guys who were with them for years had nothing good to say after leaving.
Check your facts and ask people who work there. The people that signed two year agreements in 97-01 was when the market was great. Also they were TRUE employees.... no risk and no upfront capital with a draw. Yep, almost like a real job. Those days are gone..... just about everywhere you put up capital there is no agreement to sign. I think that if you are new and relying solely on their capital and your risk is zero..... they have every right to make you sign an agreement. I don't know a firm that sponsors traders in this manner (No risk-No capital) that would ever give you a deal without a non-compete. As far as top traders.... What do you consider a top trader in this market should avg net for himself daily??? I think when you answer this question..... go there and look at the top traders (IN PERSON !!!!) and see if it is a reality and if it is possible to make that number. I 'll bet you'll find that the traders who have remained at Hold (albeit way down from the peak), adjusted to the market and are making some big time $. Don't listen to disgruntled Ex-Hold traders(justified or not), cause you're not going to get an unbiased answer. Banker
What is the deal with self clearing. Andover does it, Hold does it, but it seem like the biggest firms still don't. Do the firms that self-clear really pass along any of the savings to their traders? It seems to me that commissions are pretty much the same about everywhere at the largest firms. ETG supposedly is lowering their commission when they move from SLK to Instinet clearing? How is that possible with SLK being the largest clearing firm. I think they are the largest anyway. Not positive about that.