I'm curious who this firm is as well. I don't know anyone offering this deal and certainly not in California. You couldn't pay me enough money to back guys trading stocks. I can't imagine a firm doing so today and staying solvent. There is one firm that does so in Chicago (Tower Trading) and their offices are practically empty.
I think he is wrong about the training. A lot of these firms go to great lengths to hide the "coaching" fees. Sooner or later though you have to write the check. I suspect that might be why he has not responded.
I am betting the firm he is referencing is Altrion Trading Group. They have offices in CA and are disguised as a no deposit firm when in fact they do charge $1500 for training which will act as your deposit.
Yeah Mav, but that's actually quite reasonable...especially when comparing to someone like Online Trading Academy where the fee is about $5k. Also, I wonder if you show a track record AND a deposit, what kind of leverage do they give you relative to newbies ?
I don't think a 50/50 split is a good deal if you are risking 100% of your capital. But my main point was that I think he is mistaken about the firm not requiring "any" capital.
I have to agree with you my friend. As you know, and everyone else, BT charges $1,000 to anyone, even from other firms ($750 for ET'ers of course, sorry small plug) for a lifetime of training.... but that is kept entirely away from any trading relationship. The 'work around' of charging for some class, and then given no up front money just doesn't ring too well with many of us in the industry. Won't Swift (Orbixa?) give you more than that (50%) with no training fee? Don
Open a futures account with $5,000 of your own money, trade stock index futures from home, keep 100% of the profits. Problem solved.