Discussion in 'Prop Firms' started by Belindaxxx, Feb 14, 2008.
Does anyone know anything aboout WTS? Are they reliable?
I know the owner...seems like a nice guy...he said they rank 9th in terms of NAZ volume.....growing like gangbusters.....but then again, On line I tell people im " 6"4 and live in Malibu. I drive a masseratti but I don't want anything serious"
( plagerized Brad Paisly)
You cant POSSIBLY support WTS at .0002/100% when you are trashing LLC's offering .003/100%.
Im not supporting nor trashing anyone....where do you come up with this crap????
I said i know the owner....I cannot disclose how or why...but he is a nice guy....and he said they are doing a lot of volume....what does one have to do with the other? seiously though....if you knew why i know the owner....You would feel like an insignificant spec on a pile of dog shit.
question for you though: if that pricing model above works so well.......can you tell me why 70% of the firms and software companies that use to be listed here on ET are now out of business even though they were charging double , even triple that????
Jesus... your like the Borg. Resistance is futile... I give up...
Come on guys, this is better than the jokes2 thread, LOL.
edit: And, TM...where the heck is Shill? LOL.
If what TM says is correct (70% of the firms previously mentioned on ET have gone out of business), how does one choose a trading firm that is stable & reliable?? These companies are not regulated, what protection is there for remote traders located outside of the US?
Sounds like there is a big risk of getting shafted unless you go with a large firm.......?
The leverage business is self regulated...
If a company of this sort were to create havoc for it's
customers....news gets around really fast...both good and bad...
Bad news means out of business....internet style...
They both lose....
Also...do not put in what you cannot afford to lose...
All in all....makes for a straight up...balancing act....
With all due respect....Smith Barney, Merrill and and the big boys are also self rgulated...Yet they spent the late 90's buying mutual funds yesterday with todays news and results...SPitzer uncovered this not the SRO...then there was issuing research to the public while sceretly dumping their stock.....once again it was the feds not the SRO who brought this down....while SRO's are better then nothing...please remember that $$ rules...an LLC has no where near as much money to lose as Smith Barney and Goldman...yet those companies blatantly broke the law...
READ your LLC agreements carefully...LLC's ARE NOT REGULATED.....if they were they could not offer 20:1 leverage and trading with less then 25k equity....do your homework.
You can use a search function on WTC there are a number of threads. They all conclude that the company is not worth the time and that you should stay away from the owner as far as possible.
To answer your other question the best bet finding a good prop is to visit their office in your city. Talk to the manager, and hopefully some traders. If they don't have an office in your city. you might as well go with Interactive Brokers.
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