Hey Guys, Forgive me for not searching all weekend thru the forums for information but literally fell asleep on computer yesterday doing so. I'm looking for a prop firm (pref.) based in Toronto, Canada that offers remote trading. Have no issue with showing my face in an office once a week however. Looking for a firm that'll suffice with $2-3K deposit and provide 50-75x BP (ie around $150k BP). Again, I have no qualms if they have a "swift" style system that has a hard stop loss (and auto liquidation 5 minutes later) - However stop loss must be min. 1/4 my deposit. I'm looking for trading fees of max. 50 cents per 1,000 shares. For profit split, it would be 80%+, however negotiable depending on deposit amount as well as other conditions. In regards to trading volume, it's hard to say since I am unsure how many days a month I trade, but will suggest I trade 15 of the 22 trading days. My winning days consist of 6-10k shares a day, while my losing days are usually in the 15-20k shares per day (mostly due to the many false signals). I mostly add liquidity when entering/exiting a trade. I'm looking to switch ASAP. Please don't caution me regarding leverage (I wore my big boy pants this morning). As a side note, trading is not my only source of income. Thank you in advance for all responses (or PM's), those PM'ing I will keep your name confidential, but will post here your recommendations to get a quick 2nd opinion before I begin my own due dillegence. Summary search: ---------------------- $2-3k deposit $150k BP 50 cents per 1000 shares (max trading fees) + ecn fees/rebates 80%+ profit split (75% plus considered too)
2-3k for 150k is pretty unrealistic. You should be looking for 20-30k. You won't find any reputable place leveraging you 50-75x with 3,000 in your account lol. it's like asking to lose money. Your fees alone will wipe out your account. You won't be able to maintain the fees on a 150k with 2-3k. 50 cents per 1k for 10,000 shares a day is also asking way too much. Here is what you probably will able to find for what you are asking: 2-3k deposit - 25-30k BP < 250k shares a more = .004-.005 per share ($4-$5 per thousand). you won't find cheaper unless it's a bucket shop fly by night place. software fees - around $250 a month.
Thank you for your (un)insightful response. I wasn't looking for your opinion or thoughts, but a recommendation for a firm that would meet my criteria. (If you felt none matched, then simply don't respond) The $2-3K deposit is solely meant to facilitate the stop loss funds not BP (the BP is to be put up by firm in return for percentage exchange of profits). In regards to wiping out account, I am quite a bit more experienced than you, definitely older than you, and surely much wiser than you to make such comments. In regards to trading fees, in Canada you can find firms that offer from 10-50 cents per thousand shares ($0.10/1000 shares) and to pay $4+/1000 shares is simply absurd, especially if you're suggesting BP only be 10x deposit. PS, I'm not looking for your rebuttal. It is of miniscule value.
you can cry & name call all you want. I seriously doubt you are more experienced than me. You may be older but without knowing, it's difficult to just assume. If you had more experience than I do, you would probably recommending firms on ET and not asking for someone to give you a firm that will cut a deal the existing firms you are speaking to will not. Best of luck with your trading mate!
going years back what your asking for was out there. i remember putting nothing down and getting $5 on a 1000 with 500k bp on 100% payout. your really not offering a stranger value in volume to make someone offer you that deal. i would look for a small group looking to make an extra 1k a month. the guys who run small groups are desperate sometimes. i don't know if you will get paid or get your deposit back if you leave though. if you don't make much trading anyway keep your 2k and enjoy it on something else. good luck with the search
It was a mistake to respond to your post in the first place, but I was angered that people like you simply can't follow basic instructions by not posting unless you have something useful to add. Then you continue by assuming my current broker won't match rates, without having a clue as to why I'm leaving them (which btw, is none of your business). Since it looks like I will be idle part of May until I get resaddled with another firm, I would gladly challenge (for $$ or even just to get someone like you to hush up) you to your word of (more experienced) trading thru this forum. Or if you like I would gladly accomodate you on any online poker table if your poker skills are remotely close to your supposed trading skills. Put your money where your mouth is, I do/will anytime anyplace with anyone I perceive to be a BS'er.
It's still out there, just gotta knock on the right doors. The relationship between buying power and deposit amount is mostly irrelevant in prop firms that participate in traders' profits. Not saying this is the case for all prop firms. But I know a handful, and they've been around for years (keeping in mind that 5 years is a LONG TIME in the prop world )
Firstly, I want to thank all those who Pm'ed me with information, especially those who took the time to take my call (considering you had nothing to gain by heping me). I did find a new home, right here in Toronto. Secondly, I am bemused that there is a secret forum between many knowledgable members/traders here who mostly communicate through Pm's. However, this shouldn't have been a big surprise since they uncovered many firms that don't actively advertise/solicit traders nor request (some) the trader put up anything more than their trading records. PS, a small thirdly; to the resident doctor who goes around thread to thread in this forum meting out (check definition of mete) his ill adviced opinion, consider finding a new profession (Dr. Dolittle).
please let me know if you find one pop that offers this wonderful deal you mentioned. especially if they allows API for auto trading