I'm interested to do some prop day trading in a few weeks and need some advice (info) about Vortex Capital Group. They located in downtown Toronto. What puzzles me however is the required minimum capital contribution of 2.5k USD (to cover software fee and incurred losses). For me it looks as a red flag. Any ideas? Thanks.
hey.. I'm new to the board.. looking for prop firms in Toronto as well.. from my experience so far with a few firms and contacts... most ask for a deposit to cover yourself.. what you want to look at is if they provide you substantial BP in return.. I've seen others ask for 10K and BP at 50K or 100K-if your extremely good with max loss $50.. that is a joke if you ask me... decisions, decisions .. both ways good luck with your search.
Are you suggesting that they eat your losses if you start losing ? What you are looking for does exist in Quebec, but they do withhold profits for a longer period and preform quite a due dilligence on you - are your records that immaculate? GL freerolling someone. Even JPM is going to start clawing back profits from wild, aggressive traders. Also, getting a job there is no easy task (I imagine, never tried).
I gave them a call today and it went to a magic jack vm, the about 5 min later some guy with an Indian accent called my back and he had no clue what vortex capital was. I'm interested on the deal the op got from them and if he actually went to their office.
Cancel my previous post, just noticed it was a different firm with a similar name also located in Toronto. Every firm will ask for a risk deposit especially if you are a new trader or trading remote. 2500 is ok depending on your stop loss. Ive been noticing alot of these new firms talk alot about leverage. IMO bp and leverage should not be the factor in determining deposit, it just shows that the firm/group is under capitalized. The deposit is for risk and should be based on how much the firm is willing to let you lose in a day.
I think $0.20/1000 is as low as it can get for someone just starting (from my own DD).. I called Vortex Capital Group and they informed me that I would need to go through some testing before anything despite having 3 years of trading experience.. So I asked someone who I know who has gone through it and he informed he didn't pass even though he was up like $45 for the day... he said they look at other ratios as well.... how did you manage to do on yours (I'm assuming you have done well and you got accepted)??.. any idea what it entails??