Don is always frowning upon Sub LLC's for the same reason he and his brother used to bad-mouth LLC's in general. Now that they ARE an LLC, I don't hear him bad-mouthing LLC's any more. Sure, some have gone bust, but so have firms of all structures. The simple fact is that whatever the structure, unless you are trading retail with SIPC insurance, your $ is at risk. Period. End of story. You can get financials but this doesn't prevent someone from blowing up the firm, no matter how much capital they have. The sub-LLC helps protect Andover. My advice is the same advice I received from an experienced floor trader when I was worried about my $ before I joined Bright in 1998: Worry about making money, not about the solvency of the firm. It's much more likely you'll lose all your money than the firm will blow up and lose your $ because of someone's trading.
I trade with Lynx. Very happy here. Surrounded by real traders, not pikers. The software is sick, I mean sick!
yes - check it out before becoming member i live 4 blocks away so it was good for me. Hey Ron! Thanks for turning me onto elitetrader, very entertaining.
I noticed you are a recent member of Elite do you mind me asking what prop firms you have been with or considered before LYNX ? I assume you needed to pass Series 7 ( and maybe more) exams before trading with your present firm? have a good week seth
seth arb never heard of elitetrader till friday when someone was talking about the office being mentioned on here I have a 7,55, 63 been trading for 3 years or so, rather not talk about where but it was a major shop here in the city, good there too but it was time to change when i moved to midtown last year i was referred by friend who trades here also
I thought only 7 is good enough ? I was at an LLC called Harbor a few yrs ago thankfully I left them before they went bust that experience makes me want to be on my own when risking my funds ... I trade with IB ... very happy with them but am envious of prop firms where one can trade with more leverage than 4/1 that I have ... however ... I sometimes juice up my leverage with e mini stock index futures or currency futures ...