i see tm you say you are from boca florida?do you live in ny and say you live in fla?And being you have a lic do you know what your risk is?E5?Be carefull ?We are watching you???
Oh god please tm give it a rest!Iam a multi millionaire or you couldn't figure it out from my name. EFUDD.Who cares what lic you have how much did you make today?You sound like an idiot i hope the sec sees all this to see what a whack has a license and then takes it away? Still you are taking this much too personal i wonder why?CONMAN!!Cable guy is an understatement you must be on prozac!
this is in interesting too....was this settled? http://www.thestreet.com/pf/stocks/brokerages/1104248.html call me every name in the book but you are making an ass out of your self and you don't even realize it.
Who said anything about licenses????? i scare you guys don't I??? So back to the question of why use a "middle man " instead of a self clearing firm.....you may help your cause if you answer the questions i asked....I assume you work for this so called self clearing firm, but if you don't, can you tell everyone here on ET what those answers are? You didn't just jump into a firm with your "millions" without seeing if they had sufficient capital did you??? Or maybe you are that dumb....Im affording you the opportunity to answer so let everyone on ET know those answers and you can validate your thread....i await your response.
its noble that you are trying to help some idiots who obviously know nothing about trading firms and are not real traders. but, it seems like your words are falling on deaf ears. this guy will never answer your questions, he is most likely just some poor retail schlub trading 100-lots. If I were you, I wouldn't waste any more time with him. Let him pay his marked up commissions, after all, if it wasn't for naive traders, most of these chop-shops wouldn't be in business. Meanwhile, the real professionals know whats up and won't be trading at any firm that does not meet their strict crietia.
Im not trying to be noble...i think people though need to think before they jump...saving a 1.00 a trade is great.....but what good is that if you end up losing 50k in a sipc liquidation??? These supposed middle men btw often get better clearing rates then these self clearing firms....maybe we should have Don Bright come in and tell us about hsi rate
TM__direct i have contacted the sec about this if you are with sonic you will be in big trouble for this If not then forget this post.I have a case against them they are watching.Please ADMIN of ELITE TRADER please monitor these posts i have been robbed by sonic and want them to stop trailing me! If you have nothing to do with them TM__DIRECT then iam very sorry terminator? I started this thread with a ? why would some use a middle man.Why pay more .Self clear has a better deal they clear their own ticket so cost 0..But admin of elite trader iam asking you to track this and if a employee of sonic or someone from there you must let me know.They are slime and again tm if you have nothing to do with them than very sorry but we will find out SOON! I have had enough!
And to answer you questions i trade for myself @ schunfeld so you can check them out tm they have the deepest pockets in the business...My money is at no risk.I feel safe with them not worried about any liquidation
As of Friday, I am closing my office and I am switching to a self clearing firm. Now this frim had offered me better rates for my whole group of traders months ago. In my opinion they also had better technology. I made an offer to my traders, when they were grumpy, about the market and my firm to consider the offer to switch to the cheaper firm they said no and at least they no longer bitched as much. In reality they were quite happy with firm I was with and they were happy to pay the extra money because they thought the firm was solid. They also did not think that costs were a big deal. They were either going to make good trades or not. I thought it was a bad financial move for a firm made up of mostly of scalpers. All you have to do is look at your commission ratio, if you hold the excution ability and technolgy question aside. Well it turned out a few of my bigger traders gave up trading for now, and I am switching to the less expensive firm anyway. I mean better rates and better technolgy may improve my trading and if I start making more money again the guys at the firm who are friend have no problem if I want to open an office again in the future closer to my house. I liked the guys at my previous firm and I wish them well. So to answer the question, it depends on what the traders want and what they need. Not every trader wants rock bottom rates. My thought is that in this market if you are trying to trade off teh short time frames every tenth means a lot especially if you have good technology. But some people are looking for other things. If the middle man can give the trader what the trader needs why not. It all depends on the technolgy, rates, security and services offered. There is no reason a middle man can't offer a good deal, it just depends on the margins and costs within which they want to operate.