Discussion in 'Prop Firms' started by Maverick74, Mar 10, 2012.

  1. Maverick74


  2. So you are asking Don to follow your around here? Why don't you PM him?


  3. Maverick74


    Well, Don knows the rules and regulations better then I do. I'll start with Don and work my way down.
  4. This may have something to do with it:

    SureTrader is a division of Swiss America Securities, Ltd. founded in 2008 and is a Bahamas based broker/dealer regulated by the Securities Commission of the Bahamas.

  5. Thanks Mr. ES. I think this was a valid question for everyone. I've had some concerns expressed by others, not about this particular firm that I recall, but other off-shore firms.

  6. Maverick74


    Yes but Don, what is to stop 20 million Americans from opening an account with them? I guess what I'm saying is, they are going to put all these small prop firms out of business. I'm talking about the 5k down model where guys are using them strictly to get around PDT.

    They only have a 2k minimum. If you say to me, well your capital is at risk, who cares, it's 2k and most these guys that join sub LLC's are probably taking greater risk with their capital then joining an offshore firm.

    And if this model is successful, there will be 20 other firms like it in a year.
  7. We may, doubtful in my opinion. Remember to note the other kind of firms we see being beat to death here. Remember my friends at Full Tilt poker who got chastised by the Regulators. But, who knows, nothing to worry about IMO.

  8. Maverick74


    Well, I don't think "you" have to worry about them. But these smaller firms that are targeting guys with very small accounts might have to. If this firm is the first then the new firms coming behind them will only be better and offer more. So this firm might not look like a threat but it opens a portal Don.

    I remember growing up when nobody had money offshore and I would get these newsletters about hedge funds and CTA's doing this crazy thing called "offshore". Nobody knew what that was and it seemed like a fad. I thought to myself, who would be dumb enough to send their money to the Bahamas. Now 25 years later over 50% of the hedge funds and CTA's to the tune of 5 trillion dollars are offshore and a majority of that is in the Caribbean. It all started with just a few small funds.
  9. No they don't. From Suretrader's terms and conditions:

    "Swiss America Securities, Ltd does not solicit U.S. residents directly or indirectly as clients."
  10. Maverick74


    Not soliciting and not accepting are two different things. Anyway the only reason I know about the firm is from reading that Timothy Sykes thread here. If you go to his site he clearly states HE has an account with them and HE can refer people to them. In fact HE says they are the go to broker for his style of trading. Now that may all be bullshit. But it's written all over his website and it's a lawsuit waiting to happen if it's not true.

    BTW, there are a few other firms that do this and accept us clients. I think that evotrader guy has mentioned them before.

    And for the record, anyone can set up an LLC offshore and trade with an offshore entity. Like the old saying goes, where there's a will, there's a way.
    #10     Mar 10, 2012