NYC prop firms to go to and not to go to

Discussion in 'Prop Firms' started by saltycoot, Jul 19, 2009.

  1. Everybody keeps on talking about prop firms not to go to. For the record could somebody please tell me the difference btwn a good prop firm and a bad prop firm i.e is it bad for beginners but good for experienced traders or vice versa?
  2. I have never worked with new traders or training so I can't help you with that side of things

    My group focuses on working with experienced, successful traders or groups who prefer to trade their own capital for 100% pass throughs instead of profit sharing. Basically our traders have been around the block a few times, know the business and themselves and are looking for combination of the best rates, BP multiples, a stable platform/company and as few hassles as possible.

    I would probably guess that most succesful traders would not be looking for a profit split situation because in the long run it would cost them more. Since they are already successful, putting up capital is usually not a concern unless there is a lockup period involved. Also be aware that depending who a firm is a member of, you may be able to get registered as a prop trader without having to take the exams for 7, 55 or 63.