Interested to see who everyone believes are the best of the best out there. To keep it fair lets have 2 seperate categories: 1. Props that incorporate a split w low commission 2. Props will no split with higher commission. Please feel free to post your reasoning.
Global Market Trading offers a good deal: deposit: $7000 commission: $0.1 per 1000 shares split: 85% take home software fee: depending on your gross PnL (Sterling) remote JC Trading gives: deposit $10000 commission: $0.12 per 1000 shares split: 90% software fee: depending on shares and PnL (lightspeed or sterling) remote
I don't know where you got that information, but that is wrong on all accounts for Global Market Trading. And I strongly doubt JC offers these conditions. Maybe someone (who's been registered more than 48 hours) can actually provide some sensible info.
Are you considering best of best based on payouts and rates only or is it also based on fees, platforms, support, stability, being financially sound and properly structured. These are intangibles that mean a lot. Also be aware that rates are not just flat across the board for every company. My branch has the flexibility to structure deals for traders perhaps differently than other branches within the company. Depending on the situation and risk involved I can sometimes be fairly aggressive with rates and BP multiples. Sometimes, all thing considered, its not worth it for me to give a better rate but at least I like for people to ask me so I can see whats possible. Its kind of like a car company. Not every dealer is going to charge the same for the exact same car. They each have their own cost from the manufacturer and its up to them to decide what they want to charge to cover costs and still make a profit. IMO I think there may be a lot of branches out there for firms that have the ability to make their own deals as well. So to say that this is the only rate for Company XYZ may be a bit misleading. I know of a least 2 companies with multiple branches. If anything, it pays to check with different branches to see who can offer the best deal.
" -30-09 06:05 PM Global Market Trading offers a good deal: deposit: $7000 commission: $0.1 per 1000 shares split: 85% take home software fee: depending on your gross PnL (Sterling) remote JC Trading gives: deposit $10000 commission: $0.12 per 1000 shares split: 90% software fee: depending on shares and PnL (lightspeed or sterling) remote" Quote from BayStCapital Assuming the above is entirely correct ( some are disputing it already) you are still spliting your hard earned profits. I rather pay a little more and keep all my profits. Borker/ dealer prop firms I know of do not ask for split. Key words being broker/ dealer prop firms. You must have series 7.
I couldn't agree with you more. I've been working at a firm for many years, doesn't matter where, but i've never had an issue getting paid on time, never had an issue with support, software (they told me they have their own lines to exchanges) and i could go out and get a better deal as i certainly don't make 85 or even 80% and i make a pretty good P/L, BUT i do get access to new venues, in-office news and a few other perks that make it worth it for me to continue at my current rate (which has NEVER changed) and i wouldn't only look at how cheap i can trade or how much % i can keep but how much more a firm can help me make even more money than i was before. Just compare it to Maddoff, everyone wanted to be part of the top performer and get the highest return, what happened in the end? they all got screwed.
mtl_trader I couldnât have said it any better. I have been trading for 10 years and have been with a number of firms. If your only looking for price and payout then you will get screwed in the end. I have been offered great deals to leave my firm and get 10 percent more in some cases which for me gets me another Ferrari but i wouldnât think about it....WHY you ask because I have worked for other firms and had my screen shown to everyone ,I have been with firms who took my code and changed it slightly to screw me, I have been with firms who have owed me my monthly cut and came up short, I have been with firms who when i left OR wanted to take out money couldnât come up with it and a ton of other BS. So i prefer to work with a company who attracts a ton of guys like me and even better earners but we all would NOT leave because we are happy that we arenât getting screwed and we get paid and we have very little software problems. All it takes is ONE screwing and then you will see what you lost. IF THE WHEEL ISNT BROKEN DONT FIX IT