Looking for partner in opening non-US citizen accounts

Discussion in 'Trading' started by yc47, Jul 5, 2012.

  1. yc47


    I am based in Fremont, CA, and I just started to operate a Emini SP trading training business in China (multiple cities). I am looking for partner prop firms or retail firms to do the following:

    (1) Assist in opening accounts for these traders to be, starting with demo accounts, but eventually transition into real accounts with an initial 4-5k USD deposit for day trading Emini SP. The capital of these accounts can be first from US citizens (first 5-10 accounts), but later can be also from non-US citizens, when we grow, hopefully, in a year or so.

    (2) firms to give me low commission base, and a commission sharing schema we might use in the future (right now I am having personally $3.82/round turn with no volume floor, I am looking for something definitely lower than that), so that our operation can generate some income from commission rebates in the future.

    (3) Prop firms to join me in providing management for these traders, risk management (hard coded), training, etc.

    (4) Other possible partnerships based on our discussion.

    A bit of my background, I have been trading Emini SP for over 6 years, and only had some online mentors. I have been consistently profitable since 2009. I started to work with a high frequency trading software firm in Shanghai China about 5 months ago, and agreed to start this training-prop firm venture together.

    The main rational for doing this in China is that a trader can live decently on a 10-15k annual income in China, but not in the US. We think with the current market environment, our training, and a 5k account, we can have a 10% success graduation rate of our hand-picked Chinese young trainees.

    I travel to China every month due to other business needs.

    Thank you in advance for any leads and suggestions. I can call potential partners for the month of July and August after market hours.