is it a good deal?

Discussion in 'Prop Firms' started by wuwei, Jan 6, 2008.

  1. wuwei


    $3000 down, 80/20 payout 10:1 buying power, sterling platform $210/mon , $1/ 1000share commissions
  2. I am not sure about the others ones but commission 0.001 is good....
  3. toc


    10:1 leverage makes sense but hope they do not have you trade 200 times a day, that is not the way to make money in trading.
  4. bt116


    leveraging at 10:1, a few bad trades and you're done. probably want to start with $100k to trade with, probably don't want to risk more than .5%-1% per idea. usually the losses come out of your end, so depending on how many bad trades you want to allow yourself before youre out is up to you. have you looked at other firms that take on all your risk? might be a viable option for you. at the very least to learn for a while. im not saying youre a newbie, just assuming since youre looking to put ip $3k. i just think at that stage you want to have the leeway to lose for a while, and its easier to handle when its someone else's dough.

    other than that, i don't think its a bad deal (pretty avg). probably not letting you hold that leverage over night (good for your sake - you don't want that over night risk at this stage) also, the platform charge is another way of recouping what theyre 'saving' you with the lower (.001 per share) commish.
  5. $1/1000 is good.

    I know places charging $6/1000.

    Most places are starting to come down on their rates due to competition. Although some still try to turn a blind eye on competition and deny rates like this exist.
  6. wuwei


    thanks for all the replies
  7. jazzsax


    did you go with the deal?
  8. mnjf80


    I trade with a company called Cago Trading. I can actually say i'm happy with my firm. Never thought i'd say that about a prop trading firm. I actually get to take out my money Bi monthly. I've always had a problem with my last few prop firms i've traded with. Always has been an issue for me. A lot of these firms just hold and hold your own money you made. No thank you. Make sure whatever firm you choose You'll actually get you're money back. Here are some Cago details for you below. E-mail me if you have any questions. I'm more than glad to help out a fellow traders. Best of luck in finding the right firm for you.

    Proprietary Account:
    up to 20:1 Intraday
    up to 4:1 Over Night

    up to 4:1 Intraday
    up to 1:1 Over night

    up to 20:1 intraday
    up to 4:1 Overnight

    $5,000 Mimium

  9. wuwei


    still searching
  10. I have tried to find "Cago Trading" on the internet... there is no reference of them anywhere. I also asked some of my fellow traders and no one has heard of them. You're posts sound like a bunch of BS to me, do we wire money directly to your banking account?

    Anxiously awaiting your reply,

    #10     Feb 4, 2008