Reliable International Firms?

Is it legal to trade securities through an international prop firm as a sub contractor and how do u file your taxes At the end of the year?

 

your account PnL (propreports or tradereporting or Iboss or whoever) + a 1099ES form that your accountant can help you fill out.

It is legal, but you don't have the same oversight over the accounts so your deposits aren't as protected as they would be with a US broker-dealer.

 

Thank you very much I appreciate it

 

They use prop report and they give u a username password to access it

 

Why is it going to wreak havoc on Trading Firms? Just because they have to get a credit line? Is WTS going to pass along the cost to the traders? Can you be more specific?

 

What is the name of the firm? I am very interested to know.

Thanks

 

Sorry, I meant 1040ES**

 

Stay away from Nonko. I had a lengthy discussion to open an account asking for references with Wedbush and Lek, they refused, there are no names or addresses to confirm they exist in any physical way, or who the registered managing directors, or where any of the alleged account managers are physically.

They bank in Belize, which if you're looking to flush your money down the toilet that country is, hey, wire away.

 

Yeah, I said this earlier. They don't have 4 clearing-level accounts. That's a bunch of Hogwash. They are with a WTS branch (only WTS has fusion. they own it) and also looks like they have DAS so they are probably using two brokers but 4 clearing accounts? LOL. How could a small company handle that type of business? Even the largest prop firms have just one or two clearing accounts.

 

I asked them if they were with WTS and they refused to answer.

Red flag or what.