Safest Prop Shop?

Discussion in 'Professional Trading' started by Exodus, Mar 28, 2006.

  1. Exodus


    I'm looking for the safestest place to park some money for prop trading?

    I don't need any fancy execution platforms just fast and reliable.

  2. What do you mean safe?

    Any of the established firms are fine.

    I have only used Bright, and they will give you your money within a day if you need it. I think they have scaled back in the last few years, but still have a dozen or two offices. There are many other firms as well, depending where you live.

    I'd recommend finding a "prop" shop near you that you like, and then inquiring here. Be sure to ask about desk fees, etc.

  3. Exodus


    Maybe I should have been a little more clear.

    I want my capital to be safe from the firm going out of business or bankrupt.

    I know there can be no guarantee but the safer the better.

    I also am looking for remote trading so location isn't important.

  4. I like swiss its safe and small spreads for forex and for equity cheap deals for stocks and stable no holding period for capital.
  5. We guarantee "100 times SIPC" - by putting a minimum of $10millioon of "owners" money into the traders side of the LLC. We've been with the same clearing firm since 1978 (Goldman). Can't find much more security than that...

    Be sure you ask to see balance sheets from whomever you speak with.