Schondfeld or Hold Brothers

I would like to become a trader at a proprietary firm. These two companies seem to be the only ones which do not have a capital requirement. What do you guys know about these 2 firms? Quality of training program? Length of training programs? Internships? Contacts within the company? Salary/Pay?

You can PM me if you wish.

Thanks

 

Y dont U call "them" and get the facts? (duh)

do you actually think anyone here gives a dam about giving you the "facts"? ha..:-(

do i l@@k like i work for a living... DUH

 

From what I understand, Schoen has a terrible payout structure, but exellent training. Something like WorldCo has excellent payout structure, but lousy or not existent training.

I leave as an exercise in what order you should join these firms.

nitro

 

In this market environment, I would take any offer that allowed you to trade with no capital contribution. The trouble is finding one.

 

Hold Bros. requires $10K up front (at least in the NJ office) and have a 90% payout and $10 tickets (all in) per 1000 shares traded. Their software is pretty good (it was developed in-house). They primarily trade NASDAQ stocks and have a good training program.

Schoenfeld doesn't require a deposit and the payout is based on a sliding scale based on ticket average. I don't know their transaction costs but I hear it's competitive. They trade mostly listed stocks (like Worldco). I hear that their training is pretty good.

Both firms don't have monthly desk charges or training fees.

I would recommend being a prop trader at Momentum (although their payout is also based on ticket averages) but their transaction costs are very low, so you have a greater chance of being profitable than at some of these other firms. Also, they have excellent in-house software and are financially sound (E*trade just bought them out last month for $100M or more). They have excellent training and it's a great place to learn.

 

hold brothers do no more prop, and schoni is on its way out

 

Yes, I heard Hold Bros was in trouble also.

 

Seems the days of handing out free lottery tickets are over.

Personally, I wish I had been involved in some of those trading deals, unfortunatly I had to put up some of my own money and learn to trade.

I agree that it would be best to learn to trade putting up zero capital but those days seem to be over, huh?

I have some friends (have not spoken to them in a while) at the Schondfeld office in LA, I will try to find out what is going on there, is that office still open? - it was HUGE!

JK

 

I was at the HB Chicago office recently and it was emty except for the manager.

nitro

 

There is no deposit requirement, and you don't have to pay for the loss.