Which firm should I work with?

Discussion in 'Prop Firms' started by theguy, Apr 11, 2006.

  1. theguy


    I have been accepted to work with 2 firms in NYC. As I'm new within this industry I need some help in deciding which firm to choose. Both firms will give me capital to trade and commissions would be similar.

    First firm is well established with several offices nationally and internationally. No Series 7,55,63 are needed. The firm has a structured trading class and the split is 50 %. This short training would mean I could be trading in as little as 10-12 days.

    Second firm is with a new group of traders and they offer training in a less structured environment (I believe). They would sponsor me for Series 7,55,63 (which I must take). Split is 50%. The downfall of this firm is the time to trading could be a little as 5 or 6 weeks and That's IF I pass the series on the first try.

    Would someone please explain possible benefits or pitfalls.
    Many thanks. :)
  2. I would hold off on taking the series 7, 63, 55 until you trade professionally for 6 months or so. Make sure this business is for you before you invest your time in studying for all 3 series test's.

    The key is to obtain a quality mentorship arrangement with an experienced and proven mentor trader, this is priceless!
  3. theguy


    Thanks Hokies.
    I was thinking along those similar lines because I would be trading quicker. So I would take the path of least resistance.
  4. tbomb


    no brainer, take the gig where they are willing to sponsor you for the licenses. watch and learn, 10-12 days on a sim is a joke. the licenses will open more doors in the future if you are serious about this business.
  5. Hello theguy,

    I sent a PM, please check it.