I am curious as to which firm I would be better off with, Generic or Worldco. I am a brand new trader and would like to gain as positive an experience as possible. Worldco wants 5,000 from me, which I can handle, but Generic does not require any equity. Generic seems to have better training program in place, but does not sponsor for 55. Any comments from those of you familiar with both or either firm?
Loud, Can you be very specific about your deal? There has been alot of discussion on these boards about Worldco, etc, and it would be interesting to hear it from someone with direct experience. Here are some questions: 1) Which office 2) What are your commissions 3) payouts 4) holdbacks 5) ticket charges 6) schedule for reduction in 2) and 5) 7) limit imposed on shares traded etc, etc. nitro
If you are in New York area, e-mail me exactly what Generic offered you, I am a team leader for Worldco and I do not need $5K from you to trade and I will beat anything they offer. This applies to anyone currently working for Generic as well.
Dear Nitro, Thanks for your response to my inquiry. In hindsight, I concede that my description was rather ambiguous. Both offices which I interviewed at are in New York City. I expect to have very specific information concerning deals during the middle of next week. I'll list the details upon receipt. Since my post original post, I have begun corresponding with Hitman who seems like he may be able to accomadate me. I'll check with you before making a final decision. Thanks again.
Consider all your options. Hitman is becoming a well rounded trader, you will learn quite a bit from him if you trade with him. I can't wait to hear the details. Best regards, nitro
They don't have one. However, from what I understand, Generic is associated with Carlin Equities, whose URL is www.carlingroup.com. I hope that helps you out.
Neither Worldco or Generic offers a real program to bring along a new trader. If you know someone there who is making money and is willing to spend time with you then you are lucky. Otherwise, you are on your own. It is rumored that Worldco has alot of compliance realted problems. I don't know the validity of these rumors but it has to make you wonder. It is also rumored that Generic's biggest trader and one of the core founders M. O. is ready to leave the firm. This too, if true, has to make you wonder. Schonfeld is another firm you should look at for prop trading. They are well capitalized. http://www.schonfeld.com/ Heartland is also another. http://www.hrld.com/ Not a great reputation but a chance to work with some good traders.