You can. But I don't know if it's 5k. I think it's more like 10k. It's because Genesis offers a "secret" prop type setup for those doing over 1 million shares a month. Not many people know about it. So unless you say you do huge volume, they wouldn't mention that to you.
There are a ton of LLC's operating under Genesis. That's where you go for such an account. 5k isn't a problem, no exam or other bs.
Genesis Securities understands the concerns of our customers in this extremely volatile time. We would like to state several things regarding these concerns: - Genesis is a self clearing B/D that clears only for its' customers. We are covered by SIPC, as well as supplemental coverage of $25MM firmwide, up to 5MM per account. - Our funds are held at US Bank, with a quarter-trillion in assets, 6th largest commerial bank in US. This is a very stable bank, refered to as the clearing house of the midwest. - The vast majority of out client base are retail accounts, limited to 4:1 intraday and 2:1 overnight. Our proprietary activity is minimal relative to our total volume. Our core business is DMA. We do not pursue any type of asset management, real estate invesments, CDO/SIV transactions, etc. We are extremely risk conscious. - We are periodically audited by regulators, including FINRA and SEC, as well as internal, in house audits, to ensure we comply with all regulations regarding segregation of customer funds from firm funds, net capital requirements, etc. If you have any particular questions or concerns regarding Genesis, please contact your Genesis sales rep.
Genesis is solid. Wouldnt want to trade anywhere else. Laser is awsome also, i dont understand how people can bitch about lack of a good color scheme... youre using a trading platform not furnishing a house. Commissions are great and the group leader has never taken more then like 3-4 minutes to resolve a problem. I used to do like 60-100k shares/day which killed me, he had no problem with me going to 100 shares max and keeping my trading light. So, you can say theyre cool to the heavy volume guys as well as a noob with a small account. Like i said, Genesis is SOLID.