Time for a Dubai operation imo - I know several traders who have set up or are about to set up trading over there.
Yep makes sense..Thanks I have read a lot about famous scandals Michael Milken.... Harshad Mehta....(The great Indian bull who swindled a few billion dollars) I still don't think it is fair to SEC to come and tell an LLC guy hey, you can't give him 10 to 1... Isn't this like saying, "hey you can't bang your wife 10 times a day..bang only 4 times a day"
Well the problem is they are acting a broker dealer and in order to do so, they need to register as one.
5pillars: Dubai is a great place..my dad used to work there. and i have heard many brits are going there.... If you are like spitzer then there are a lot of russian prostitutes available there So, can you post any link for Dubai prop trading??? If any one knows of any link for Dubai or have any other ideas, please post. I am going to look into going to Dubai.. I can trade U.S., UK and Indian markets ...
Besides being registered as a broker dealer, my understanding of the issue is this: only 4 to 1 buying power even with all the licenses. So even if they register to be a broker dealer, I don't think the SEC would allow Tuco to give more than 4 to 1 in buying power for intra-day trading. Correct me if i am wrong..
That is correct. What the BD can do, as does GS, MER and so on. Is let the trader trade firm capital, NO DEPOSIT and split the profits.
So with this latest information... This leaves with only 2 choices that I am aware of: 1) Swift Trading and 2) Title Trading Both these don't have any operations in the U.s. Wonder why... Any body care to answer. also, is there any other firms similar to swift or title's business model i.e. no capital down but percentage splits like Mer or Goldman etc..
Don what do you think the future of Prop. trading is ? Is 4--1 leverage and 25K down going to be the future?? How is bright trading preparing