There are other aspects to consider as well. I know of an Andover sub-LLC in LA area that offers 100% payout but you can not trade if you dont have any capital...so in that sense, they are similar to a retail shop except you get much higher leverage and better tech/software services probably. But their rates are excellent - hell of a lot lower than penny a share - and their bullets are much lower than $20 per 500. But - again - you need to have capital. So every one of these sub-LLC deals at these firms, including Wldc - are all slightly different. If I were a new trader looking to break into the biz, I would just go to a firm that doesn't require any capital and learn as much as possible and then go look for better deals later on. Its not like you are gonna make money in the first 6 moths anyway- so why risk your own? But dont ever burn bridges in this biz..its a very very small community. Everybody knows everybody.
Lencor: You're correct; my mistake. Only Retail clients are covered under SIPC; however the risk is very small that Andover will be bankrupted by a trader (they have their controls). My understanding is that Andover currently has over 700 traders. I still love the training I'm receiving at Lynx. No complaints with the current arrangements. When I become consistent and build the account, I'll re-negotiate the current fee structure. Established traders are paying less than 1 cent per share with payouts in the 90s. Again, fees are influenced by the amount of capital brought to the table by the trader. --Ron
with 2-5 million shares volume per month... I'm currently paying .0075 per share with .025 per bullet. Is a $25K deposit adequate to get 99% payout? (no overnights)
i can help you out. you can open an account in my llc(andover) or a retail account with andover. send me a private message if interested or anybody else for that matter.
seems like they are interested in me trading for them. Do I need to supply any capital, or can I use the firm's to trade. Are they a good company to work for. Do they have a website.
Everything is negotiable, including the capital. I think they are a top notch company. Andover has a website; not Lynx. --Ron
what are they like. Have to call them back tomorrow about the nyc office. Seem very nice over the phone. Will meet with them later this week
Slumpey: I have nothing but positive comments. Definitely worth your time to come in. The office is nice, as well as the two office managers, Ed and Leon. The only thing lacking is a coffee machine (they're going to get one after my griping), and danish (these are the only things I miss at WorldCo). --Ron