Ideal Prop Firms for New Trader

Discussion in 'Prop Firms' started by niteflite, Jan 14, 2008.

  1. Hello. Can anyone tell me which NYC prop firms are reputable, honest, and offer a decent training program? I am pretty much set on making the career transition.

    Also, are there any firms that will not require a capital contribution from a new trader?

  2. Not quite NYC, but close enough:

    Good people, good training. You'll have to commit $995 however....and if you do well in their initial tests, you can trade their capital with zero down payment.
    Of course, you only get a low 30% payout on profits, but they use the best trading software and the commissions are so low as to be almost negligible (institutional rates).
  3. so are they going to strongly encourage me to put up the $1800 to attend the 2 day course? a 30% payout is pretty low, isn't it, even if you are only putting up a nominal fee?
  4. Amorphous


    Trillium, First New York.
  5. Swiftrade payout more than that
  6. yup. and you have to put down $0.
  7. can anyone provide a description of the training at these firms that have been mentioned: swifttrade, trillium, and first new york securities.

    also, it sounds like at least from their web site that their training programs may be difficult to get into. is that the case?