News on the street. Lion's Group Trading, LLC is dead. Turns out they didn't know anything about running a business. Lots of good guys lost their shirts to a bad business model. A bit of advice. To all you commission hounds. If you need lower commissions you can't make money trading. Say goodbye to the mook trader.....
I don't know this Lion's Group but "Nomooks" has a good point. If your trading profits are so dependent on another few bps, then you probably shouldn't be in the game. While I am all for lower commissions, it was the higher rates that often forced a trader to learn, that weeded out the "mooks" and that kept the firms in business that gives opportunity to traders. Go with a stable professional firm that provides service and accountability not just the lowest rates.
lower rates means more profits for the individual trader. A experienced pro dosent need squat besides the right SOFTWARE, CONNECTION and RATE. If some scrub tries to charge him to a high rate offering SERVICES AND ETC., he walks away from the deal because he dosent need it.
Honestly....did you think that it wasnt going to happen? A bunch of big Worldco guys starting a firm with no business skills....hA
As far as commissions are concerned I do not regret paying lower and I would wish not to pay any in exchange for 25% of profits in this trading environment. For advocates of higher commissions, I think it's clear that higher commissions do not ensure your company from going down.
I disagree. Service, quality, stability, and professionalism mean something. Why do some car buyers purchase a Ford when some buy a Jaguar? Made by the same company. It is the quality and service. Sometimes the cheaper stuff ends up costing a lot more in the long-run. I am for low rates. I am not for the lowest rates simply because they are. I am for the best combination of the above qualities and cost. What is the old sayning, "You get what you pay for"?
the lion roars no more... i guess it's time for another scam...anyone knows where the head guys went?
they are going there separate ways. you know the usual crawling back to worldco or going to andover. blow out one place go on to the next....