cry me a river. you are a real capitalist except when it comes to your pocket. then you whine to the government. you should study what capitalism is about.
I don't like prop firms and never have. However, there is no reason to call them CRIMINALS. You also have no idea what this trader was offered. They are entitled to price their business how they want and you can play or not. The name calling is bull and you would not do it if your user name were your name. 1245
I am for a free market but when it comes down to those taking advantage of the system well they shouldn't be in this business. We all have to play by rules, why so these these people think they don't have to?
If you're for a free-market then you are for the individual being allowed to sell for whatever price he wants. Even at $1 a share, they have a right to price their service at whatever they feel it's worth. Likewise, you have the right to choosing between competitors. If you aren't happy with the prices, you can walk away. Nobody is forcing you to do business with any firm. $10/1000 will be the norm within a few years so get used to it. I thinK $10/1k is a rip-off but don't care if they charge $10 or $1000. It's your responsibility as a consumer to do due-diligence and educate yourself on what is available from whom. Once you've spent the time doing the research, you will find other outlets to access firms with lower rates and high payouts. Bitching that the regulators need to step in is BS. You never gave them 1 penny or had an agreement with them that they broke. What exactly are you accusing them of that requires regulators to step in? If they feel their service is worth that price, they have a right to try and charge that. Anybody with a 3-digit IQ would research other firms and find a better. The ones with 2-digit IQs are the ones who cry that they need government to protect them from themselves.
Charging a 'NEW' trader 0.01/share with a 70% payout is not bad if he receives quality training. From what I know of T3; their hands-on training is second to none in the industry. As a new trader, it's not the rate...it's the quality hands-on training so you have a chance of being successful in an industry where 90% of all new traders fail.