Which prop firms don't require a series 7 license?

Discussion in 'Prop Firms' started by ProGambler, Dec 18, 2009.

  1. NKNY

    NKNY

    Does jc payout 100 percent ?
     
    #11     Dec 19, 2009
  2. NKNY

    NKNY

    Its world strade securities. Just google wts trading and you should get their web site.

    Nick
     
    #12     Dec 19, 2009
  3. NKNY, Thank you.
     
    #13     Dec 19, 2009
  4. You are locking yourself into a world of few possibilities. Cutting corners is like not going to college when you know you should of.

    Don't be in a rush to trade. Do what you know is right and put in the time. In the long run it all pays for itself.
     
    #14     Dec 24, 2009
  5. Equity Trading Capital -
    $5,000 deposit held for a year, 90% payout, .0088/share
    Sound like a bad deal.

    Coastal Securities -
    $5,000 deposit held for a year, 95% payout, .00475/share, lightspeed $0, sterling $220/month, nasdaq + nyse data $144/month, stocks less than $3 get no margin, can't short stocks under $3, 10-1 buying power, 5-1 overnight
    Not a bad deal.

    Keystone -
    no deposit but you pay for training which is non-refundable. 2 month training means you can trade company's capital for 2 months. After 2 months you have to pay for additional training to stay with Keystone. 2 month training = $3,695, 4 month training = $4,995, 12 month training = $8,495. 60/40 profit split. 10-1 buying power, 3-1 overnight. Commission is .00125/share. Lots of rules and if you break the rules they'll kick you out. You're limited to stocks they want you to trade. Tight stop losses.
    Very bad deal b/c you don't have freedom to trade whatever stocks you like.
     
    #15     Dec 26, 2009
  6. 90%payout and 0.0088 is bad to say the least.
     
    #16     Dec 27, 2009
  7. svrtiska

    svrtiska

    Another one to consider is OceanView Capital 858 699-1024. I'm in the process of signing up. They do keep 10% of profits when you take them out of your account. They use Lightspeed platform.
     
    #17     Dec 28, 2009
  8. NKNY

    NKNY

    What are you getting per share...
     
    #18     Dec 28, 2009
  9. svrtiska

    svrtiska

    I assume you mean what do you pay per share. Lightspeed as a broker has a .006 or thereabouts but they give a discouunt to OVC to about .004, I believe. Again, give them a call as I am not the best source of info. I will be soon as I am about setup with them.

    The big drawback is them keeping 10% of withdrawn profits. But for me, I will like that problem if it starts amounting to something. I hope to gain additional insight into daytrading by working thru them.
     
    #19     Dec 28, 2009
  10. cstfx

    cstfx

    Lightspead as a broker charges .00395.
     
    #20     Dec 29, 2009