Schondfeld or Hold Brothers

Discussion in 'Prop Firms' started by Trader2B, May 8, 2002.

  1. Trader2B


    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.

  2. 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
  3. nitro


    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.

  4. Htrader

    Htrader Guest

    In this market environment, I would take any offer that allowed you to trade with no capital contribution. The trouble is finding one.
  5. 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.
  6. hold brothers do no more prop, and schoni is on its way out
  7. axehawk


    Yes, I heard Hold Bros was in trouble also.
  8. 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!

  9. nitro


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

  10. roumeo


    There is no deposit requirement, and you don't have to pay for the loss.
    #10     May 30, 2002