Discussion in 'Prop Firms' started by bulllives, Apr 16, 2009.
How much money does it take? How much do I have to put up to start one?
About $15.72 should do it.
why the smart aleck jokes? I asked a simple question. No need for posts like that on this thread.
You should be able to get some TARP money at your local bank.
Sorry, I thought you were making a joke. A quick review of your post history explained a lot.
Can I trade with your new firm?
Hmm...no prop firm will hire you so you want to start your own firm? Kid's got balls. Gotta give you that. $49,350 should get you started. Good luck!
(If you are serious)...this has all been covered in detail before. I can tell you how our Firm, and the "other" main firms do it.
Buy an Exchange membership
Hire a great Compliance Officer
Find a good Clearing Firm. Normally only $10Mil will work, the bigger firms like GS require more.
Register with the States you want to do business with.
Negotiate pricing with Clearing firm...they will give you rates based on your expected volume and the Risk they think they will be taking. In our case, we have been with the same Clearing Firm since 1978, and they understand that they only have our one account to ever look at...with new firms, the Clearing firms are more concerned about all the traders.
We've had a couple of "spin-off" firms started, and then we decided that it would make more sense to allow the more Entrepreneurial type traders to start their own business within our Structure....this cut their costs, and kept them in the flock, and gave the new traders the safety and security of our main firm vs. a sub-LLC or something.
Hey, it can be done..has been done, and will likely be done. Not so much lately however.
Separate names with a comma.