Why does T3 take 5% of profit, and SMB takes 60%?

Am I missing something? Everyone trashes on T3 on forums. Hidden fees?

 

I thought SMB was part of T3. Does SMB back traders or does the trader put up 1st loss money.

 

They may have joined somewhat, but I see differences between them. T3 told me by phone that they do almost no handholding, whereas SMB has a whole training system. And forums mention SMB starting at less than 50% profit split, and T3 said 5% by phone. But the T3 dude sounded sleazy af.

Nice to see you are still on here btw. I've been reading your replies from 2012. You were the only one telling people to go for it in a sea of negativity and doomsday predictions.

 

Thank you. On a side note, a customer account gets you 100%, requires no registration or lock up of capital, SIPC etc.

 

I like your thinking.

 

Customer account with who? Are you referring to Lightspeed?

 

Yes. We offer customer accounts.

I think the 1st loss JBO prop model had its day and is less relevant and necessary. Those that desire more leverage or can't fund with over $25K can trade futures. I would only "join" a prop firm if I wanted to be a MM or if they had technology I could not get myself. I'm not talking about traditional prop firms that hire traders.

I joined VTrader in 2010 and had a bad experiance. Those that stayed, had a worse experiance. I would only look at Reg-T, PM or futures and own my account.

 

A prop firm would let me scale up quicker, even with the profit split. Until I have $500k of my own money to trade with, it speeds things up by at least a year.. And gives me a social trading environment.

 

Would you say you are a trained, consistently profitable trader that would benefit from 20:1 leverage for DT. As these prop firms provide that to those that have experiance and don't, the path for those that are new to trading, scaling too soon, often does not end well. I do get the social trading environment. I was a floor trader and I do find a benefit to trading in an arcade with other traders from the social aspect. However, unless you live where they have an office with a desk available, you would be trading from home or your office and the social aspect would be lacking.

Just my opinion. Good luck.

 

Yes, I am 3 months green, and want to live in NYC. And some of them use Lightspeed, so I might have to learn it. Been on Das Trader.