Has anyone here worked with Tradevision? www.tradevisioncapital.com What have your experiences with them been like? Would you recommend them or not? Thanks.
(sorry, but directly from their website) "Trade Vision Capital is not a registered broker-dealer. Trade Vision Capital is NOT registered nor a member with any securities regulatory body. " Come on guys, you all know better than bother with this kind of stuff. They may be great guys, but why would you even think about this kind of thing.? Please, as I've asked all the other firms of this type, please have your owners call me...if I'm wrong in my immediate evaluation, I'll post it here. And if there is value to what you're offering new or established traders, then I may even writy about it in one of the magazines (can't even get that kind of promotion here on ET, right?). Don
I don't understand your objection. What does it matter if they are not a registered broker-dealer? If a firm is financially secure, reliable, and works with a very reliable broker-dealer, what is the problem? Please explain.
Don's point makes sense to me. There is a lot of fraud out there and registering is one way to walk the line.
As I understand this, a lot of these prop firms are basically big pools of capital that traders use to make money, and these prop firms make money from commissions, software fees, and a cut of the traders' profits. It could make good business sense to outsource the actual broker-dealer part of a business to an established broker-dealer, and concentrate on other aspects of the businesss. This is what Tradevision does, I believe. They let Genesis Securities handle the brokerage part of the business. Also, how would this company being a registered broker-dealer make me more sure of them? Would it be easier for me to investigate their financial status if they were registered? Would I be able to get their financials or other useful information from the NASD?
How do you know this? Yesterday, I tried searching the Web for information on prop firms to get an idea of how often they go under and couldn't find any information. Could you give me links to news stories about prop firms or a web site that has information on how legit most firms are, how financially stable most are, etc?
I'm going to be joining them soon. They were quite helpful and responsive. Whether that spells stability I'm not sure, but I've been with other firms that we're neither, and it was a shaky experience at best. Anybody else trading with them?
This is the shit I am talking about. Don is the most unprofessional operator of a business that I have come across. These guys are just trying to get their name out there for some free press and Don starts the attack on post 2. That is the main reason I despise this chump. He is not very confident in his model if he is worried about a sub LLC group just starting out. Time to go back to Business School Don and learn about perception and proper PR. How does your brother let you pull this shit?
What sort of information did you get from them? Were they willing to discuss their financials? Do they seem like the sort that would be open with that information?
Every firm starts out somewhere. How does registering make it a legit firm? I thought it just required traders to get their series 7's.