I am a newbie looking into joining this prop firm, could anybody please take a look at their offers and see if it's a good deal? 1. Training : $500 (supposed to be 1200. Negotiation rock...) Training lasts for 2 weeks. It includes the usual background theories, trading platform tutorials, as well as some "battle" simulations. 2. Capital on my end: $1000 (once the initial $1000 is used up, I will need to refill the account in order to keep trading. This is my biggest concern.) 3. Montly fee: $200 ( I guess this is meant to cover the software cost. I can't think of anything else this money is meant for) 4. Commission: 0.05/100 shares (From what I understand, this is pretty high comparing to other prop firms. ) 5. Buying Power: $100K 6. Profit: 80%/20% (80% for me) All in all, is this a reasonable deal?
Looks pretty solid. Could you pm me the name of the firm -- it seems like something that I can afford. TX!!
It's a prop firm based in Toronto, Canada, ran by Chinese. I am positive the training will be a complete waste of money for you since everything will be taught in Chinese. But if you have the knowledge already and don't mind the Chinglish environment. I'd be glad to give you their contact info.
They could be run my Martians for all I care - I'm looking for that leverage.... Many many thanks!!!!!!!!!!
LOL To be fair though, they can speak English. Just so happened that the firm is ran by Chinese and tailored towards Chinese immigrants. If T-bone is experienced enough, it would be no worse than trading remotely.
It sounds like a bad deal. If you can come up with 5k you can get with a standard firm and get 10:1 or greater with cheaper commission and 100% payout. Need a 7 of course. Or you could try and go the swift/keystone approach and get .0002 with 30-50% payout. If 1k at a time is all you can put together than go for it, you should be able to make money under that deal until you can afford better. Edit: I misread the commission. If you are getting .0005 with them I like that deal for getting started.