Has anyone dealt with Hold Brothers? I hear they require and sponsor for series 57. 25:1 leverage, 99% payout and $7 per 1000 shares. Is that true and how good are they? They have their own software greybox. I didn't find any reviews on that also... I emailed them but didn't get any answer. They asked me to call them and told that most things are negotiable. Also they have an office here in NY and might charge fee to trade from there. That was the weirdest part. Perhaps office is very small? Any info would help. Thanks in advance
Go call them after the holidays. Go call other firms. You need to know what you want from them. "How good are they" I don't know the answer but if I were asking the question I would be a little more specific. Good at what? Good as in integrity? Good as in execution speeds? Good pricing? Good technical support. Good mentoring? Good standing with regulators. Good financial strength (very important). The list could go on. My point is not everyone is looking for the same thing. What is good for you may not be important for someone else. Good luck. (no pun intended)
Hey Elliots, thanks for replying. By good I meant the software, office, payout time, support and just everything u assume to be good. I like the 25:1 leverage, it's more than what I got from T3, Integra (part of T3) They said they "might" charge a desk fee to trade from the office. That was little unexpected.
Their dev/tech team is good. The guy who originally built Graybox still works for the firm. Graybox is customizable, which is good for traders who know what they want but confusing for newbies. They have good low latency route options to dark pools, IEX, ECNs and direct to exchanges. You can get lower than $7 per 1000 there if you negotiate. They do not have a lot of office space, so if you don't do a lot of volume they may charge you (to make up for opportunity cost of having a high volume guy there). They have virtually no support in terms of mentorship, strategy development (unless it involves technical support), or training so approach at your own risk.
Did you see this? https://www.sec.gov/litigation/litreleases/2017/lr23740.htm This was after a very quick search on sec.gov, just out of my own curiosity. Looks like it is slowly getting resolved, but I would still worry. I haven't looked for their financial strength yet.
The Feb 2017 release was the settlement of the civil suit in which the SEC tried to pursue the brothers personally for the old fines of the company Hold Brothers (essentially a collection case); this was not a new fine. The judge struck down the SEC's motion to strike which resulted in a settlement, in which the SEC stated it would not pursue further Greg, Steve, Hold Brothers Capital or affiliates for past fines. Hold Brothers Capital and any traders were in no way affected by the settlement. The original enforcement actions were not for failure to supervise, but for "purportedly missing red flags". I would rather trade with a group who has been around for 20+ years and paid their regulatory dues and knows better, than a company who has been around for less than 5 who hasn't and doesn't. Just getting the facts straight.
Hold Brothers Capital LLC is a respectable prop firm. They are very well connected on LinkedIn. Their Founder and CEO has a BA in Physics and Economics from Rutgers and is currently pursuing a MS in Technology Management at Columbia University in the City of New York. They have many successful traders working for them for over 10 years now. By doing some casual browsing on LinkedIn, they have traders graduated from SUNY New Paltz, Middlebury College, Southern Illinois University - Carbondale, Providence College and Columbia University in the City of New York.