Hi everyone, This is my first post. I've been day-trading now full time for the last 6 months. I put in little capital in order not to loose too much. Up to now my capital lost amounts to roughly my commissions (over 12k). I did take some training. But now I feel like I need some serious experience..I want to do this full time. Thinking about prop firms, but I don't know anyone who's ever worked with them. Here in Canada, the big ones are in Toronto and some in Montreal which is close to me. I understand that they provide training...How good is it? I've called a couple of places (chicago) and they seem to be eager for me to call them back. Before I do, if someone has anything to say to somebody really green at this, it is fully appreciated. TX.
Here are a bunch of questions you should be asking: 1. Do you allow traders to trade remotely? 2. Do you require Series 7? 3. What are your commissions rates? 4. What's your payout split? 5. Do you pass back exchange rebate fees? 6. Do you offer advanced order routing mechanisms? Do you have access to midpoint routes and dark pools? Please elaborate 7. Do you have special relationships with floor brokers (floor routes)? If so please describe the fee and rebate structure? 8. Do you have a capital contribution requirement? If not, please describe any risk management parameters (such as max drawdown per day) that you have. 9. Please elaborate on how much buying power you provide? If this depends on capital contribution, please elaborate on that too. 10. How do you process payouts to your traders? 11. What trading platforms are available to traders? Do you charge a platform fee? 12. Please describe any other fees that you require traders to pay?