Yes - Not far off anyway. 27 Story St. Brooklyn Does anyone have contact info on Avatar? Their website gives them a professional appearance but their email address bounces. www.avatartradingllc.com Anybody else have knowledge of any firms in Midtown Manhattan or Queens? Those that are not on the floors of Hold, Dimension or Assent that is.
That website for Avatar Trading www.avatartradingllc.com is new from what I remember ( I traded with them for a year and a half and they must have revised the website when they moved to their new office). Try using avatartrading@yahoo.com to get info. This is the email I used to use to communicate with them. Ray or Omar are the partners I dealt with. Good guys, and I have dealt with a number of prop firms over the past five years. I left because I moved into futures trading and they couldn't offer that to me.
just curious, pm me if you feel more comfortable, but why are you specifically avoiding those mentioned firms or their buildings? Its almost as if those firms have an aura around them that you would like to avoid....in which case, that justifies itself...
Had a tough time finding any futures prop shops in NYC area. I ended up pooling money with two other traders (also friends of mine) and we trade ER2 and YM through Infinity (they're just an IB for Transact Futures). They have a stable NON-JAVA BASED platform that has only gone down twice (for a few seconds) in the past 6 months (knock on wood). CME and CBOT membership would help bring our costs down, but we're paying $3 rt for ER2 and $4 rt for YM which is manageable for us. We get no extra leverage like you would find in a prop firm, but payout is 100%. The leverage you get on your own with a futures account gives you enough rope to hang yourself without the need for a prop shop's additional capital. I love it.
So if Infinity isn't giving you additional leverage for the futures you trade (as it's unnecessary), what's the point in trading with them? $4 r/t on the YM is the same as IB,MBtrading, etc. $3 on ER2 is a slightly better rate. But does a 60 cent savings on the ER2 warrant paying a desk fee and entrusting your capital with a prop shop?
There is no desk fee, as we trade from my friends office. Infinity has nothing to do with our money. Our deposits and withdrawals are done directly with TransAct Futures. As an IB for TransAct Futures, Infinity gets paid a referral fee (certain amount per contract I assume) from TransAct. They have a better rate negotiated with TransAct than we would get on our own (probably due to the large volume they bring to TransAct). To answer your question, yes it does warrant us working in this current arrangement. To each his own.