What´s wrong with WTS? I´d been researching a lot about it, found a lot of "negatively neutral" comments, nothing concrete. But the atmosphere seems "bad" overall. The range of comments goes from "they are not serious" to "they are a big trading desk internalizator and frontrunner" and "if you don´t believe me, try it with your money". Is there any true about all this negative vibe?? As far as i´ve found, they are one of the biggest/oldest prop firms. Concentrate in hft and rebating strategies. Offer a lot of access to smart/dark routing. And have some branches around there. A lot of traders lost money with them, some are making it for years, mostly scalpers. What´s so different about them, comparing with other props like Bright, Echo or Chimera??. PM if you like.
I would like to know more about them too. Couldn't find anything on rip off report. I was searching under WTSPTG, LLC, nothing even the people we were dealing with and in getting everything submitted, can't find anything about them either. Now suddenly though, they want $$$ but we are very hesitant to give them anything... It just doesn't feel right. Please anybody who has dealt with them please reply. Can't afford to get scammed. Thank you kindly! Cheers!
That´s the problem, no one says nothing concrete. Even with GS there is concrete info about the "bad" and "good" things. One will just end confused being open minded to unfounded comments or without a logic argument.
This has been discussed a trillion times. Cliff notes are: People dont like the owner and the legal set up. They have been proven to scalp a bit on fees in the back office. Overall everyone gets paid and its basically the best deal out there.
Who´s the owner? Olvier Velaez?lol. Cause every broker has those "small errors" (that always are against you, strangely) with the fees. But if one is using a rebate sensitive strategy, its impossible for those "errors" to pass unnoticed .
WTS is legit. Been trading with them for 9 months now. There is a ton of positive feedback from traders who trade with them or a sub of them. Most of the negative posts are from posers who have never traded with them or traded prop in general. Or have a negative view on prop firms and take it out on one of the largest - WTS. There are no hidden fees or other BS like people are trying to say. Prop is different than retail brokers. You have risk management fees, compliance fees, Finra fees, etc. Every where you go has these fees. Some wrap them up into a 'desk fee' or like WTS lists them individually. I have trade with three different prop firms and WTS is a quality firm. Thier legal setup is industry standard and there is no back office scalping of fees. All fees are stated up front and clearing defined. They now offer an in house trading platform FREE of charge. Fusion DMA. Comparable to Sterling Trader Pro. Sterling costs $180 a month so in actuality they save you on fees.
It is important to separate out the issues endemic to prop trading, and those specific to WTS. Most who try their hand at prop trading will fail, many losing everything - that is the nature of prop trading. WTS itself is about as clean and competent as you can get in this game. Note that is not the same as endorsing the prop trading model.
Completly agree with previous posts. Just was wondering why is there such a negativevibe around WTS here. Or it´s just that Bright, Echo and the rest are doing a better job cleaning the trolls from the forum?
Completely agree. Spot on. A new trader will have a better chance of success at s true prop firm that has a training program, pairs you with a senior trader, and offers firm capital. These firms are very selective and offer 60/40 pay splits. They have high overhead and pass those costs on to traders. This is how my career began. Once you learn the ropes and have capital, you move to a prop firm like WTS or Echo. Where the emphasis is on low trading costs, leverage, access to top trading platforms. Keeping overhead costs at their lowest.