Looking for a prop firm for U.S. equities

Discussion in 'Prop Firms' started by RaghuRomeo, Dec 31, 2018.

  1. I don't doubt your knowledge Robert but are you sure the main source of income for a Prop firm is commissions?. Because the main source of a Prop firm is the percentage of profit they take from a trader (you make money we make money). Commission is secondary (since its very low compare to a traditional broker). What you said is for a brokerage firm (their only source of income is commission).
    #11     Jan 2, 2019
  2. Contact Chimera Securities. They offer Lightspeed and are partners in Takion. Can't speak to your citizenship, but I'm sure they can answer that in a minute.

    I don't know why everyone is so hostile. Robert is clearly an excellent resource and right in most cases. Raghu is also right, I can affirm from my own experience. A prop firm will give leverage to an experience trader it trusts for overnight...
    #12     Jan 2, 2019
  3. gaussian


    I did, and I trust the judgement of a broker with many more years experience in this game than both of us.
    Now you're a "prop trader" who not only doesn't understand prop trading leverage, you don't even know what a bucket shop is. Bucket shops offer high leverage precisely to blow your account out as fast as possible. They have nothing to lose because the trades you place aren't real. This was an easy ignore.
    #13     Jan 2, 2019
    silveredge likes this.
  4. zdreg


    I doubt very much there are bucket shops for equities, per your definition, exist in the US. they were put out of existence by the SEC as a result of the 1929 Crash.
    #14     Jan 2, 2019
  5. Sucat


    I'll second this. I traded for over 10 years with a prop firm that offered great leverage during the day and overnight. Iirc, owners of the firm had their own assets in to back up bigger positions from smaller traders overnight. So my $25k account holding $100k+ of some boring stock was perfectly fine because they had millions stacked up behind it.

    Aside from Chimera, I would try FNY trading. http://www.firstny.com/ - I would ask to talk to Mark Gikher.
    #15     Jan 5, 2019
  6. qlai


    They don't list what platforms/tech they use. Do you know?
    #16     Jan 5, 2019
  7. Robert Morse

    Robert Morse Sponsor

    FNY is a traditional prop firm not one that takes First loss money. You don’t get a job there because you are looking for a good manual trading software.
    Last edited: Jan 5, 2019
    #17     Jan 5, 2019
    dealmaker likes this.
  8. Sucat


    I do not. But I respect and trust the management as I worked with them previously. In this business, trust can be more valuable than a particular piece of software.
    #18     Jan 5, 2019
  9. qlai


    I'm interested in firm offering low/mid latency infrastructure for automated equities trading (including high quality data). First loss not a problem. Most just offer generic manual platforms.
    #19     Jan 5, 2019
  10. Also please don't forget my interest too. i am looking for any prop firm which offer Lightspeed and/Or Takion trading platform to non us citizens. :)
    #20     Jan 8, 2019