Retail Trading Firms

Discussion in 'Professional Trading' started by SCI new york, Feb 11, 2007.

  1. This is somewhat of a tangent going off from the 'managin money for others' thread since its turning into another hedge fund/opinion thread.


    Just wanted to know if anyone knew of any retail trading firms catered to high volume prop traders who handle customer accounts. I know they're out there because i've heard of them before, so can anyone point me in the right direction? I've been trying to get a hold of a couple of them but its just secretary after secretary. I've also spoken to a few prop firms but they all pretty much trade firms capital or the traders trade their own money. I never thought it would be so complicated to find a firm that agressively trades customer accounts.
     
  2. Are you looking for a prop firm that also has SIPC insured retail accounts with 4:1 margin?
     
  3. for the most part, yes. I would like to start a private equity fund in the future with my current clients and future clients that I continue to prospect but for now I would just like to spend my time trading and audit my accounts to show the performance. I'm not looking for the leverage that most prop firms give (50-1 or whatever). I just need normal 4-1 intraday, 2-1 overnight (if i even bother holding overnight which i mostly will not). I basically need a firm to act as a prime broker for me and give me rates as if i were a prop trader due to the number of trades I will be doing, volume, etc. Normal brokerage firms just dont cut it because of lack thereof trading systems, etc. But like i said earlier, most of the prop firms that i've been to or have given me offers are just that, prop firms, and trade firm's capital.
     
  4. i thought IB was pretty good on rates if you swing enough volume... how do they compare? how low do you need? and why not start with their F&F setup for instance, then as you grow you can work on building your fund...
     
  5. I dont trust the online brokers, too many hidden costs thrown in there, etc.
     
  6. ?? been on the other side (brokers) for ages... also spent 3 months with a voice-only RFQ type bucket shop when i started trading... all the contrary i'd say... i wouldn't trade via anything thats not instant ESP / DMA...

    even better, i was on the floor at GS in Tokyo last week, the warrants guy showed me the FX quotes he was getting from the GS FX desk... 3 pips wide on USDJPY (for $1mio)... that, my friend, is a rip off...