There are only so many real players in the Canadian prop industry. All the little crap companies are just subs of the main companies. They are either scalping %age off traders, dinking them for fees, or taking advantage of shoestring momma's basement expenses so they can be competitive on payouts. Granted I am out of the loop and don't know who actually has a B/D these days, but I believe it is WTS, Title, GMM, Swift, and Hold Bros. Anyone can feel free to correct me.
these shops don't even have an office but just a website and they are not just sub-WTS they are also WTS employees, risk managers etc they were offer to do so by the management to get the traders that left them when realizing they were getting .... on the so called low clearing rates but double sec fees !
So what?? I used to be with WTS and am now looking for somewhere else to go for a solo account but every shop that is out there seems to suck for one reason or another!? So where does someone go? If its too good of a payout, people say they're ....... you on sec fees and if there breaking you off 65% well your just getting screwed on the top line? There is no answer here. Did anything pan out at MGB or Global Market for either of you traders at the top of the thread?
I found out that both Global Market Trading and MGB are affiliated with WTS. I clicked on both there website's "trader reports" area and entered my email and password and......boom! There are my numbers from WTS!
i just contacted them not to long ago, (im totally new to all this). What i dont like about them is every where you look on the web and in forums you dont find any thing about them, there wire info is based in montreal but when i asked if they have an office in montreal i was told they didnt. hard to get an address on thee guys , again im new maybe this is just the way it goes
I went with MGB. The nature of the business is definitely not the most transparent. Most of these smaller companies are ran out of small offices or out of basements. Which doesn't mean they're bad it's just people trying to maximize their profits. If you are going to trade a lot of shares go with Global Market Trading as their deal is better on the fees side of things. If you are not a HF trader or anything that resembles one, go with MGB as you can choose your structure and they're directly affiliated with WTS. Because of my history working with WTS, I find that somewhat comforting.
Could you elaborate a bit more?? What do they consider high frequency?? ( hundreds of trades/day )??Do you have to put a deposit down?? Also, whats their pay structure like?? Do they require previous experince?If not how much buying power do they give you initially and whats the daily stop loss limit? If you have a ATS but which isnt intraday can they support it?? Sorry for soo many questions , I am interested in prop firms, but frankly do not know how they work..
Contact them to find out. It varies firm to firm. And its irrelevant what "they" consider HF, all I meant was the fees per thousand shares are generally more expensive at MGB but the payout percentage can be better if you aren't banging out 50,000+ executions per day.