I am looking to find a firm in the nyc area that doesnt require a capital contribution at least during the training phase.. Ive traded options on the AMEX for about 8 yrs. but this is completely different and there is so much info out there. the prop firms that keep coming up are SCHONFELD, SPECTRUM, FIRS NY SEC., REGAL TRADING, etc. these firms seem to offer good training programs and some even offer paid training.. im looking to make this a career and could use some help getting into one of these firms. ive sent resumes. if anyone can help or have any connections i would really appreciate it...... btw... this site ELITE TRADER, has been such a great resource... thanks to all
I am at Spectrum, and have been here for about 8 months. There is no up front capital, no paid training, (the training is a joke BTW), 8/10ths per share before breakpoints, 25%gross plan, and 70%net. The risk management has changed, and they are a little tight with large positions. You can usually rely on the risk people to call the top or bottom.
You'll be hard pressed to find a firm that offers no cap down. As for training, my advice is to come in and talk to the traders that went through the program. If you're unhappy with the training make sure you can leave with your capital right away.