Looking for a prop firm. I'll take a lower split for a lower commish. US citizen, so I guess I'm stuck with Series 56, contribution & 1 yr. lockup? Suppose I could just get w/IB for 25k in and .0035/.002 with no lockup and SIPC. I can raise the money for a contribution, but I'd rather not of course. I just want to go in and do my thing without alot of hassle. I already have my strategies I don't care about one software over another or how "stable" we think the company is (cause with prop firms we don't know anyway). Unfortunately I'm only reliably profitable w/equities, so futures and forex are out for me. I'm just going to do this part-time for some extra money. I don't like trading all that much. I'm in a short-term situation right now and I need the extra cash. I have my strategies and they're just fine. Now, important - reason why I started this as a new thread. Sure, I could easily get a list of prop shops from off ET or Google and call these guys and talk to them. But, I don't want to talk to them. I don't need to hear their pitch and I don't wish to chat on the phone, or leave a call back number. So, I'm asking you for a recommendation. Please only recommend a firm that you currently (or recently) TRADE with. I'm asking, do you work with a prop shop where you're happy with them and are getting excellent rates. Thanks alot in advance!
"Sure, I could easily get a list of prop shops from off ET or Google and call these guys and talk to them. But, I don't want to talk to them. I don't need to hear their pitch and I don't wish to chat on the phone, or leave a call back number." How do you expect to do business with any firm with that attitude? From your post, you "don't care about one software over another" or the stability of the firm, you "don't like trading all that much" and yet you want others to provide feedback on whether or not they are happy with their firm? It seems your focus is on getting the lowest commission, and for that you are willing to take a lower profit split. However, the commissions and profit splits with any firm is negotiable based on the individual or the group he/she is joining. There are only a handful of Series 56 firms that take capital contributions, all of which have been mentioned on this site. You are correct in stating that there's a 1 year lock up, and the firm will have to sponsor you for the 56, so there is a lot of paperwork involved, all of which will take time. So doesn't it make sense to conduct a little bit of due diligence on your own?
Definitely among the weirder posts I've seen lately. Given the time and administration involved with getting set up at a prop firm, and your short term needs, didn't you basically answer your own question suggesting to go with a low-commission broker on your own? While I do think that the OP sounds... odd, I guess maybe he's looking for real life vs sales pitch feedback.