ANYONE HEARD OF WorldWide Trading Capital? PLEASE ADVISE ON HOW RELIABLE THIS COMPANY IS. WHO THEY ARE? "WorldWide Trading Capital is not a registered broker-dealer and neither benefits from, nor receives commission dollars related to trading accounts. WTC works in coordination with private capital groups that provide licensed and non-licensed clients with access to sub-contracted trading services. Our firm and our network affiliates strongly recommend that all clients fully read and acknowledge all SEC risk disclosure statements available on our site and our affiliate broker-dealer websites prior to engaging in any live trading activity, and acquire a solid understanding of the risks inherent in active "day" trading." THEY REFERED Schiller, LLC TO ME FOR OPENING THE ONLINE DAYTRADING ACCOUNT WITH INITIAL LEVERAGE 10:1--MINIMUM FUND $5000. Schiller, LLC is not a licensed broker-dealer, but rather a private capital group that provides supplemental capital to individual traders and enables them to trade on their designated sub-contractor accounts via limited trading authorization forms provided by their designated broker-dealer. ANY FEEDBACK IS DEEPLY APPRECIATED. HOW SAFE AND RELIABLE ARE THOSE COMPANY? THANKS.
You gotta check the Aggresive Client Growth chart they have on the about me page. Its absolutly highlarious. If that dosen't convince you to join this mickey mouse operation not sure what will! And this seems like a vendor advertise his company again. If you want to advertise you should buy a membership not create stupid threads. They provide no physical address on their web page, no fee structure, and accept US accounts without any licenses. Tuco got shut down and they had people with series 7 these guys won't be around for long. IMHO
It does sound like a vendor pushing his company. I'll wait and see how long these guys stay in business.
Why does anyone with any sense even consider dealing with BS unlicensed firms like this? If you want leverage, then trade futures and blow out your account with a fully licensed and regulated futures broker. There are a number of futures brokers that offer $500 margin for daytrading ES. That's better than 120 to 1 leverage. Go for it.
I don't trade futures, I want the leverage and I don't have the series 7. Not sure what other options there are except going with an "unlicensed" firm or getting the 7. I understand the risk.
I do not believe that the risk of a highly leveraged, unlicensed and unregulated firm is easily quantifiable. I do know that it is outside my idea of acceptable risk parameters.