I have been made the following offer @ a prop firm: Its 10k down for the following: Intraday-450K Overnite-80K Comm-.005 99%payout Software-$50 No hold on capital Anyone have any words for me as far as their experience with deals available, the industry in general or things I should get in writing before accepting? Thanks Go Eagles!!
some ppl on here might dog the 10k but overall thats not a bad deal. do you get to work with successful traders or is there some type of training?
make sure to get that no hold on cap in writing. everybody tells you that and later when u leave its sometimes a different story
Its remote trading & training was not neeeded. Looking to hear from others if this is the best one can negotiate with firms.
First, is your rate all-in or plus minus ECN pass through rates. If its all-in, thats a great rate. If its plus minus ECN fees, then you could be getting a good or bad deal depending on the volume you trade. If you negotiated 450K during the day, would it be fair to say you trade between 100K and 250K shares per day, in and active strategy? Or do you have a strategy thats capital intensive without trading many shares? Now, rates aside, what is the financial condition of the firm you plan to join? Have you seen their k-1 statement from last year? To me, it sounds like a good deal, need to know more specifics on rate. And, whenever you put money with a firm, you shoudl have some way of knowing what their financial condition is. I think Don Bright woudl be a good resource on what things to check out, better than what I could suggest.
Just realized what I posted...lol What I meant to ask...is this an llc that does not require a series 7 license...?
Do prop firm have the rule that they have to hold your capital or what and why do they have to hold your capital for a year- ?