Training Programs in NYC

Discussion in 'Prop Firms' started by jwr1017, Jun 29, 2011.

  1. jwr1017


    I am interested in trading but have no experience, so I am looking to get into it through a good, solid training program. I am also looking to work in NYC since I currently reside in Northern NJ. I was just wondering what would be considered the top 10-20 (or more) Trader Training Programs in NYC? I am also looking for firms that do not require capital contributions. I have checked out tradersnarrative and went through those but was also wondering if anyone knows of other places in NYC that aren't on that list. Any help would be greatly appreciated.
  2. the best training programs are the ones offered free by the firms. Here's a few that I am familiar with that offer good training programs with a capital contribution and have their traders registered:

    CY Group - $5000 deposit for 100k bp, free preliminary training

    Capital Traders Group - $1500 minimum/ free training and on-going education/ 50k bp - 30 cents per 1k shares.

    Star Alliance Capital - 5k deposit, expensive commission rates, wall st office that offers training and mentorship

    First New York Securities - training program with a base salary (extremely competitive)

    You should also check out testimonial sites like to check out what traders have to say about the firms
  3. jwr1017


    I would preferably be looking for something more along the lines of a training program like First New York Securities. I don't have the capital for a program that requires 5000 but would look into something that might require a smaller deposit like Capital Traders. Anyone know of more programs like that of First NY Securities located in NYC?
  4. You'd be very hard-pressed to find one now and any firm that is suggesting no capital deposit. Many of the firms that are doing so are just scams trying to sell education programs.

    FINRA & SEC regulations have made it too expensive for firms to offer those type of programs anymore. The Proprietary model is now forced to be regulated as a firm/client relationship with the trader putting up a capital deposit locked up for a one-year period, much like an investment account. Much of this response was to eliminate firms passing themselves off as hiring employees, and not the truth which is they are customers of the broker-dealer, using their account to trade, while you pay strictly for your losses.

    If the program is not requiring you to submit a u4 to the sec and run an FBI fingerprint background check, it's most likely an off-shore company that won't be around long.
  5. zdreg


    7 I's in 6 sentences says a lot about you.
  6. Betapeg


    He's not interviewing for a job here, jeez, give him a break.
  7. zdreg


    based on your comment it turns out that my remark was doing the OP a favor.
  8. Surdo


  9. good luck to you OP

    i applied to Chimera and FSNY but haven't heard anything back
  10. zdreg


    "7 I's in 6 sentences says a lot about you." :zdreg

    "He's not interviewing for a job here, jeez, give him a break."

    my remark only became a reality check because of betapeg's response.

    the next time the OP goes for a job interview or tries to chat up a woman(also an interview) he will remember my comment.

    your response speaks volumes about you or was it just kill the messenger or was it just fat fingers?
    #10     Jul 4, 2011