US Trading Capital

Discussion in 'Retail Brokers' started by FaderTrader, Dec 29, 2005.

  1. I'd like to know what everyone thinks about this US Trading Capital Corp. www.ustradingcapital.com

    I work for a firm that puts up all the money. But, my split is only 75%, plus I pay all fees (.008/share). This was fine when I was fresh out of college and broke, but it's grown old.

    My tier size ranges from 1500-3000 shares. US Capital requires a min of 20k to open, with BP x8. I figure a deposit 45k would put me at where I am now in terms of BP.

    Has anyone had an experience with them? Also, any feedback in terms of BP, leverage etc, would be helpful since those decisions have always been made by the firm that employs me. So, I'm not really sure what the rules/standards are.

    Thanks in advance!
     
  2. I'm not clear on what rates of interest they would charge and whether you can keep positions overnight.
     
  3. My impression was that there are no restictions other than:

    1. Listed equities.
    2. Capital requirements (min 20k)
    3. Commish (.01 share with a 110,00 min per month).
    --This is compelling for me since I pay .008/share now, but only keep 75% of my winnings.
     
  4. There are deals out there with half a cent per share or better, virtually unlimited buying power and 100% payout.

    The only way I can see that the firms you are describing could possibly stay in business is by relying on their traders never finding out what else is out there.
     
  5. hey LES -

    Thanks for the heads up. Any resources you'd point me towards? Much appreciated.
     
  6. zdreg

    zdreg

  7. Ah - no, I haven't. I'm new to this forum. Recently have been trading FX much more, so I have a bit more time to screw around. Thanks!
     
  8. I'm still a little confused, sorry. Can someone please spell out the following for me:

    1. I'm an experience trader working for a firm that puts up all of the money for my trades. My split is 75% and I pay all fees (.008/share).

    2. I want to go out on my own and am willing to stake myself 25k. I need no less than 250k BP.

    3. I want the flexibility to use any platform that I choose. I currently use Hammer/Anvil and want to continue to do so. Ideally, I'd have the flexibility to trade both FX and equities through the account (are there restrictions on this?).

    Questions:

    1. How do I go about getting the capital?

    2. Do I need to use that firm's platform?

    3. What are the differences in BP between intra-day and overnight positions? (I'm currenly not allowed to hold overnight, so I have no basis for knowing this).

    Thanks to whomever responds - it's much appreciated.
     
  9. USTrading

    USTrading US Trading Capital

    Dear traders,

    My name is Adam Temkin. I am a manager of US Trading Capital, LLC. I can see from the discussion on this board that everybody has different ideas about what we are trying to accomplish. That’s why I would like to clarify a few points to make it clear what we are offering. Currently we are just starting our advertising on ET to test the market and see the level of interest from this board.
    First of all we are a financial company not a BD. We feel that there are a lot of retail traders who trade for a living and would welcome additional buying power in order to improve their ability to trade more effectively.
    As most of you know, in the proprietary environment, you can start trading with much less capital and get much more buying power than in the retail environment. But on the downside, your capital is not protected, they push you to trade much more then 5,000 shares a day, and you have to split the profit with the firm. So we are pretty sure that a lot of traders would prefer to trade a retail account giving that they have enough buying power, their account is protected, they do not have to split the profit, and there is no licensing requirements.
    To minimize risk to our capital, the only way to give the trader additional buying power is through the Joint account, which we have structured the agreement between us and the traders where it’s clearly stated that the traders’ capital belongs to the trader and we do not have any access to that capital. On the same note the trader does not have access to our capital. We are in business to provide a legitimate service for traders who would need it. When the JC is open the trader will be the primary account holder. At this moment we have Genesis as our independent brokerage firm but we might use other brokerage companies in the future. We understand that some people are cautious about we are offering because it is somewhat new but we can assure you that we will make our best effort to answer and address all of your concerns. For additional inquiries and/or questions please visit our site and fill out a request form.

    Sincerely,

    Adam Temkin
     
  10. alanm

    alanm

    Didn't you already post this? I sent you a PM, to which I've not received a response.

    ...and you have to split the profit with the firm...

    At $0.01/share, what's the difference between splitting your profit with the prop firm or effectively splitting it with you by paying such a high commission?
     
    #10     Jan 3, 2006