Schonfeld Vs. Carlin

Discussion in 'Prop Firms' started by spyglass, Oct 31, 2005.

  1. I am now with ETG, and with Schonfeld purchasing them I have the option of staying and trading with Schonfeld (or Opus) or switching firms and joining Carlin. Not really too happy with either firm, Both want to keep my capital for 1 year, which is BS since I do not have that with ETG now. Schonfeld will only pay out 90% and Carlin 95%. Each will only give 10:1 leverage.

    Seems like there really is not much of reason to trade with either of these guys. Leverage sucks, although it is better that retail I guess, but trade off is, a lock on my capital.

    So, my questions is what are some real world experiences with these firms. I know I can search the archives, but I am looking for some current information not stuff that is months or years old.

    Any suggestions?
  2. Why not just go to Assent, Bright, Echo, Genesis, etc?
  3. echo and genesis have similar leverage restrictions - 10:1, unless maybe you prove yourself? it didn't help me any though, even though i showed them i only had 2 down months in 3.5 years.

    you can get better leverage at assent and bright, but the lowest commissions are at genesis and echo.

    me thinks assent has the best combination of leverage and commissions (i don't trade there)
  4. I know I can go with Assent, Bright, Genesis, etc.

    It is not so much the leverage as it is the lock on capital.

    I could always put more capital to get the BP I need, although I woould rather not do that.
  5. I just left Carlin, looking for a new shop, so was interested in this thread. When u say 10:1 leverage, is this for holding overnight for swing or position trading? Or are you talking about day trading buying power?

    I left Carlin becuz of the lock-up period as well. Apparently there is some new SEC reg requiring the lockup for licensed and registered traders. I haven't seen it myself, but that seems to be the party line on the street.

    I am more of a swing/position trader and the best I was able to find was a shop which was willing to offer 2 seperate accounts, one for overnight holding at 10:1 leverage, the other was a day account at 100:1 leverage. Both accounts are being treated as retail accounts, so my licenses are not being parked, although there is a way to renew when my 2 years is up.

    Commissions are higher than normal, but I don't do alot of volume based on my strategy. Payout is 99%.

    Is this a good deal? Anyone know of any better?

  6. 10:1 overnight leverage?

    how safe if your money at a firm that would let you or any trader do this ?
  7. thats a great question, setharb. And thats what I'm trying to figure out. To be honest, right now I'm not sure. I've been online the last 2 days trying to get information on these guys, with very little luck. I was thinking of starting pretty small and working it up from there, using day profits to fund overnight account. That way, my out of pocket wouldn't be too great if these guys turn out to be scum.

    If it sounds to good to be true....
  8. ETG sold you to Schonfeld. still want to stay?
  9. yea go to a firm that does not hold your 5k for any time period
  10. Genesis
    #10     Nov 2, 2005